330 Las Colinas Blvd E #348

Irving, TX 75039

$1,900D+

1 bd · 1.0 ba · 813 sqft · Built 2001 · Condo · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,624/mo
• Mortgage (P&I): −$10
• Tax + insurance: −$3
• HOA: −$652
• Vac / Maint / Mgmt: −$341
• Net cashflow: $617/mo
• Annual: $7,410/yr
• Cap rate: 396.27%
• Cash-on-cash: 1392.78%
• DSCR: 62.97
• 1% rule: 85.45%
• Cash to close: $532

Investor read

• This is a 1-bed/1.0-bath condo listed at $2k.
• At list price, monthly cash flow is $617 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $2k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $2 of equity ($13 loan paydown + $-11 appreciation (-0.6% local appreciation)).
• Location reads 80/100 on livability (#45 in TX, #1,913 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities C-.
• Irving ISD (urban): math 19% / reading 25% proficiency, ranked #751 of 826 in TX (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Farine El (math 19% / reading 31%, grade F, #3,013 of 4,322 statewide, top 70%, 879 students, 80% FRL).
• Watch-outs: HOA is 40% of rent.
• Market conditions: Rents flat; 100 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).
• Dallas County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 sale attempts since 16y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (-0.6% appreciation + 0.4% rent growth), your $532 cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 396.3% vs local median 2.6% in Irving — 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.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.