608 Cardinal Dr · Ovilla, TX 75154

$299,000

4 bd · 2.0 ba · 1,560 sqft · SingleFamily public records · 11 Days on market

Built 1973 0.57 ac lot $192/sqft · 11% below area Est $337k · 11% under

---

Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +12.6/15.0
• Cash flow +11.4/30.0
• 1% rule +3.9/10.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• DSCR +3.3/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

CHARMING COUNTRY HOME W/ LOADS OF UPDATES * TILE FLRS/INT PAINT/TILE BKSPLSH IN KIT * TILE ENTRY & WALKWAY * ROCK FP W/ BI'S * CORIAN CNTRTOPS * FRML DINING CUD BE 2ND LIV OR 4TH BR * VANITY AREAS IN BATHS * SKYLITE IN MSTR * STG BLDG & DET GAR/WKSHOP * SECURITY * NICELY LANDSCAPED *

Key facts

• Country living
• Oversized backyard
• Half an acre

Tags

• HALF AN ACRE
• OVERSIZED BACKYARD
• TWO SEPARATE WORKSHOPS
• OUTDOOR LIVING SPACE
• EASY ACCESS TO SHOPPING
• COUNTRY LIVING

Property features AI

Finance

• Other: Lot approximately 0.57 acres (subdivision: Westmoreland Ac)
• Financial info: Listing accepts Cash, Conventional, FHA, and VA financing; Special listing condition: Probate listing
• HOA & community: No HOA / association

Exterior

• Parking: Driveway; Attached garage with 2 covered spaces
• Utilities: City water; Aerobic septic; Not in a municipal utility district
• Home design: Single-family residence; One-story; Residential property
• Construction: Brick construction; Composition roof; Slab foundation; Built in 1973
• Exterior features: Covered porch; Covered patio; Chain link fencing; Grassed and landscaped yard; Few trees; Interior lot; Workshop/other structure on property

Interior

• Kitchen: Built-in cabinets; Dishwasher; Electric range
• Bedrooms: Three bedrooms (all on main level); Primary bedroom includes built-in cabinets
• Flooring: Carpet; Ceramic tile
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Cable TV available; Seven total rooms; One living area; One dining area; Built-in cabinets in primary bedroom and kitchen
• Laundry & utility: Full-size washer/dryer area

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $299k.

Deal economics

• At list price, monthly cash flow is $-103 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $281k (6.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $265k (11.4% below list).
• Recommended offer: $265k (11.4% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 1.8% in Ovilla — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 69/100 on livability (#396 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Red Oak ISD (suburban): math 40% / reading 36% proficiency, ranked #384 of 826 in TX (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Shields El (math 34% / reading 36%, grade F, #1,965 of 4,322 statewide, top 46%, 563 students, 60% FRL); Red Oak Middle (math 38% / reading 32%, grade F, #842 of 1,662 statewide, top 51%, 1,546 students, 63% FRL); Red Oak H S (math 50% / reading 50%, grade D+, #495 of 1,632 statewide, top 30%, 2,160 students, 54% FRL) — zoned schools average 59% FRL vs 42% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.0%/yr); 575 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 3,016 units permitted in Ellis County in 2024 (20 in 5+ unit buildings).
• This rent runs 32% of the median local income ($100k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Ellis County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 22y ago; this cycle's ask is 900% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $264,912 (11.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.89% ✗
• Cap rate: 5.88%
• Cash-on-cash: -1.48%
• DSCR: 0.93
• GRM: 9.4

CMA / ARV

• ARV (median comp): $337,137
• List price: $299,000
• Delta: -11.31%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
610 Meadow Lark Dr	0.10mi	3/2.0 (-1)	1,783 (+14%)	15mo	$355,000	$199	54
111 Oak Creek Ln	0.38mi	3/2.0 (-1)	1,754 (+12%)	4mo	$599,000	$342	53
101 Holly Ln	0.74mi	3/2.5 (-1)	1,533 (-2%)	15mo	$365,000	$238	43
2633 Salado Creek Ln	0.74mi	3/2.0 (-1)	1,589 (+2%)	18mo	$310,000	$195	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.99% rent growth · sell at horizon

5-year hold

• IRR: -18.7%
• Equity multiple: 0.34×
• Total profit: $-54,917
• Equity at exit: $44,582

10-year hold

• IRR: -11.1%
• Equity multiple: 0.33×
• Total profit: $-55,891
• Equity at exit: $25,852

Cash invested: $83,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 75154

• Home prices YoY: -18.5%
• Rents YoY: 3.0%
• Active inventory: 575
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,649 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$503 /mo · $6,039/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$556
• Net cashflow: $-103

Break-even live

Break-even rent $2,779

Max offer price $280,807

Occupancy floor 99%

Sensitivity live

Price	-10% $66	-5% $-18	+0% $-103	+5% $-188	+10% $-272
Rent	-10% $-312	-5% $-208	+0% $-103	+5% $2	+10% $106
Rate	-1.0pp $48	-0.5pp $-27	base $-103	+0.5pp $-180	+1.0pp $-259

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2636 Sagebrush Dr Glenn Heights, TX	4.0	2.5	2136	$2,995	$1.40	0d	1	0.71mi
2609 Sanders Creek Dr Glenn Heights, TX	4.0	2.5	2095	$2,329	$1.11	45d	1	0.85mi
2556 Sanders Creek Dr Glenn Heights, TX	4.0	2.0	2095	$2,545	$1.21	45d	1	0.89mi
2421 Frio River Rd Glenn Heights, TX	4.0	2.0	1816	$2,585	$1.42	18d	1	1.08mi
2709 Star Ave Red Oak, TX	3.0	2.0	1156	$1,869	$1.62	45d	1	1.15mi
209 Wilshire Dr Glenn Heights, TX	3.0	2.0	1433	$2,355	$1.64	7d	1	1.17mi
229 W Willow Creek Dr Glenn Heights, TX	3.0	2.0	1396	$2,129	$1.53	45d	1	1.32mi
317 W Glen Meadow Dr Glenn Heights, TX	3.0	2.0	1433	$2,070	$1.44	26d	1	1.36mi

Listing history 6 events

1. 2026-05-15
   price $299,000 655-char remark
2. 2026-05-14
   listed $29,900 Active 655-char remark
3. 2004-12-10
   soldstatus
4. 2004-11-05
   soldstatus 296-char remark

   Show marketing remark (296 chars)

   CHARMING COUNTRY HOME W/ LOADS OF UPDATES * TILE FLRS/INT PAINT/TILE BKSPLSH IN KIT * TILE ENTRY & WALKWAY * ROCK FP W/ BI'S * CORIAN CNTRTOPS * FRML DINING CUD BE 2ND LIV OR 4TH BR * VANITY AREAS IN BATHS * SKYLITE IN MSTR * STG BLDG & DET GAR/WKSHOP * SECURITY * NICELY LANDSCAPED *

5. 2004-10-06
   historical 296-char remark

   Show marketing remark (296 chars)

   CHARMING COUNTRY HOME W/ LOADS OF UPDATES * TILE FLRS/INT PAINT/TILE BKSPLSH IN KIT * TILE ENTRY & WALKWAY * ROCK FP W/ BI'S * CORIAN CNTRTOPS * FRML DINING CUD BE 2ND LIV OR 4TH BR * VANITY AREAS IN BATHS * SKYLITE IN MSTR * STG BLDG & DET GAR/WKSHOP * SECURITY * NICELY LANDSCAPED *

6. 2004-09-09
   listed $124,900 296-char remark

   Show marketing remark (296 chars)

   CHARMING COUNTRY HOME W/ LOADS OF UPDATES * TILE FLRS/INT PAINT/TILE BKSPLSH IN KIT * TILE ENTRY & WALKWAY * ROCK FP W/ BI'S * CORIAN CNTRTOPS * FRML DINING CUD BE 2ND LIV OR 4TH BR * VANITY AREAS IN BATHS * SKYLITE IN MSTR * STG BLDG & DET GAR/WKSHOP * SECURITY * NICELY LANDSCAPED *

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $6,039 · $503/mo
• Projected year-2 tax: $6,039 · $503/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,789
• − Mortgage interest: −$16,749
• − Property taxes: −$6,039
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,543
• − Management: −$2,543
• − Depreciation: −$8,698
• Taxable loss: −$6,277
• Est. tax savings @ 24.0%: +$1,507
• After-tax cash flow: $271/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Red Oak ISD
• NCES district ID: 4836660
• Math proficiency: 40% ▼ -12.00%
• Reading proficiency: 36% ▼ -9.00%
• Median HH income: $71,110
• Composite: 34.88/100
• National rank: #5084
• State rank: #384 of 826 in TX

Livability — Ovilla

• Score: 69/100
• State rank: #396
• US rank: #8259

Category grades

Amenities F Commute F Cost of living B- Crime A+ Employment A+ Housing A+ Health & safety F User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ovilla, TX
• County: Ellis County · 199,237 people
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 52,516
• Household income: $100,388
• Rent vs Own: 17.8% rent · 82.2% own
• Severe rent burden: 1081.0

Population outlook (Ellis County) Hauer SSP2

• Today (2025): 194,556 people
• By 2030: 209,679 · +7.8%
• By 2040: 238,837 · +22.8%
• By 2050: 265,451 · +36.4%
• By 2075: 326,571 · +67.9%
• By 2100: 362,156 · +86.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 39% Black 30% Hispanic / Latino 27% Two or more races 12% Asian 1% Native American 1%
• Hispanic origin (detail): Mexican 25%
• Common ancestry: Italian 2% Slovak 1%
• Foreign-born: 9% · Canada, Jamaica
• Languages at home: 80% English-only · Spanish 18%

Political lean MEDSL · Ellis

• 2024 margin: Solid R (+31.1) · D 34.0% · R 65.1%
• 2008→2024 swing: +11.2pp toward D · 2008: -42.2pp · 2024: -31.1pp
• All cycles: 2024: R+31.1 2020: R+34.1 2016: R+45.4 2012: R+47.5 2008: R+42.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -67.06%
• Current HPI: 294.5836
• Rent YoY: ▲ 2.99%
• Metro: Dallas-Fort Worth-Arlington, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

+139.4% since first listed

8 events — show timeline

• 2026-05-25 Pending — NTREIS
• 2026-05-19 Contingent — NTREIS
• 2026-05-15 Price Changed $299,000 NTREIS
• 2026-05-14 Listed $29,900 NTREIS
• 2004-12-10 Sold (Public Records) — Public Records
• 2004-11-05 Sold (MLS) — NTREIS
• 2004-10-06 Listing Removed — NTREIS
• 2004-09-09 Listed $124,900 NTREIS

Property tax history

+3.6%/yr

Latest (2025): $6,039 · +6.5% YoY. Source: county tax records.