2404-2406 Colony Ct · Dallas, TX 75235

$340,000

2 bd · 1.0 ba · 776 sqft · MultiFamily public records · 21 Days on market

Built 1947 6,074 sqft lot $438/sqft · 112% above area Est $320k · 6% over

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Why this score? — see what drove the F 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).

• Cash flow +10.5/30.0
• ARV discount +4.7/15.0
• Livability +4.0/5.0
• DSCR +3.0/10.0
• Schools +2.8/10.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

OPEN HOUSE SATURDAY JUNE 13TH 12-2PM. Charming income-producing duplex in a prime Dallas location near Dallas Love Field and the Dallas Medical District. This versatile property features two spacious 2-bedroom, 1-bath units, making it ideal for owner-occupants, investors, or house hackers seeking strong rental potential. Each unit offers functional layouts, updated appliances, beautiful hardwood floors, and separate entrances for added privacy. Central air was installed in all units in 2025, adding modern comfort and efficiency. One unit is currently vacant and the other is tenant occupied. Both floorplans are the exact same. Positioned in a high-demand rental corridor with convenient acces

Key facts

• Updated appliances
• Separate entrances
• Central air

Tags

• INCOME PRODUCING DUPLEX
• PRIME DALLAS LOCATION
• UPDATED APPLIANCES
• HARDWOOD FLOORS
• SEPARATE ENTRANCES
• CENTRAL AIR

Property features AI

Finance

• Other: Two buildings, two total units
• Financial info: Treated as clear loan type; No second mortgage; Capitalization rate: 12.36; Gross annual income: 40,800; Gross annual expenses: 5,000; Insurance expense: 14,000; Net operating income: 40,800
• HOA & community: No association

Exterior

• Parking: 2 parking spaces; Additional parking; Attached carport; On-street parking
• Utilities: City sewer; Electricity available; Individual gas meter; No municipal utility district
• Home design: Duplex (residential income); One level; Built in 1947; Smart home features
• Construction: Vinyl siding; Siding exterior; Shingle roof; Slab foundation
• Exterior features: Private yard; Back yard fencing

Interior

• Kitchen: Gas oven; Microwave; Refrigerator
• Bedrooms: 4 bedrooms
• Flooring: Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Eat-in kitchen; Granite counters; Open floorplan; Walk-in closet(s)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $340k.

Deal economics

• At list price, monthly cash flow is $-175 ($-2k/yr) — negative. Per door: $-88/mo.
• To cash-flow at today's rent, offer at most $309k (9.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $258k (24.2% below list).
• Recommended offer: $258k (24.2% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 2.3% in Dallas — 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 81/100 on livability (#24 in TX, #1,380 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F.
• Dallas ISD (urban): math 31% / reading 36% proficiency, ranked #559 of 826 in TX (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 83% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Obadiah Knight El (math 42% / reading 37%, grade F, #1,545 of 4,322 statewide, top 38%, 317 students, 94% FRL).
• Market conditions: Rents soft (-0.7%/yr); 85 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).
• At $2,576/mo this rent would consume 49% of the median local household income ($63k/yr) (locally 1427% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Dallas County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($335k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 3% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $257,600 (24.2% 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. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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?
8. 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.
9. 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.
10. 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.

Investment metrics

• 1% rule: 0.76% ✗
• Cap rate: 5.67%
• Cash-on-cash: -2.21%
• DSCR: 0.90
• GRM: 11.0

CMA / ARV

• ARV (median comp): $320,137
• List price: $340,000
• Delta: 6.20%
• Verdict: FAIR
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -23.2%
• Equity multiple: 0.22×
• Total profit: $-73,852
• Equity at exit: $50,695

10-year hold

• IRR: -27.6%
• Equity multiple: -0.13×
• Total profit: $-108,045
• Equity at exit: $29,397

Cash invested: $95,200 (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 75235

• Home prices YoY: -25.5%
• Rents YoY: -0.7%
• Active inventory: 85
• Price-to-rent: 22.0×

Monthly cashflow live

• Estimated rent: $2,576 medium
• Mortgage (P&I): −$1,783
• Tax from tax record: −$286 /mo · $3,427/yr
• Insurance: −$142
• HOA: −$0
• Vacancy / Maint / Mgmt: −$541
• Net cashflow: $-175

Break-even live

Break-even rent $2,798

Max offer price $309,044

Occupancy floor —

Sensitivity live

Price	-10% $17	-5% $-79	+0% $-175	+5% $-271	+10% $-368
Rent	-10% $-379	-5% $-277	+0% $-175	+5% $-73	+10% $28
Rate	-1.0pp $-4	-0.5pp $-89	base $-175	+0.5pp $-263	+1.0pp $-353

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,576
Total (2 units)			$2,576

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: $85,000
• Closing costs: $10,200
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7911 Wanebe Dr Dallas, TX	1.0	1.0	612	$1,400	$2.29	44d	1	0.08mi
2317 Gilford St Unit B Dallas, TX	3.0	2.0	1025	$1,849	$1.80	24d	1	0.13mi
2315 Gilford St Unit B Dallas, TX	2.0	1.5	1050	$1,625	$1.55	3d	1	0.13mi
2515 Roanoke Ave Dallas, TX	3.0	2.0	1123	$2,800	$2.49	24d	1	0.16mi
2205 Empire Central Dr Dallas, TX	2.0	1.0	536	$1,500	$2.80	14d	27	0.51mi
2232 Empire Central Dallas, TX	2.0	1.0–2.0	914	$2,425	$2.65	11d	14	0.55mi
2025 Empire Central Dr Unit 101 Dallas, TX	2.0	2.5	1068	$2,250	$2.11	44d	1	0.61mi
2275 Hawes Ave Dallas, TX	2.0	1.0–2.0	941	$2,978	$3.16	1d	35	0.64mi
2275 Hawes Ave Dallas, TX	3.0	1.0–2.0	1079	$2,620	$2.43	17d	37	0.64mi
2293 Hawes Ave Dallas, TX	2.0	1.0–2.5	1008	$2,584	$2.56	2d	46	0.65mi
2223 Hawes Ave Dallas, TX	3.0	1.0–2.0	1055	$2,333	$2.21	2d	35	0.67mi
9777 Cedar Springs Rd Unit 9777A Dallas, TX	1.0	1.0	1055	$2,938	$2.78	44d	1	0.72mi
2229 Hawes Ave Dallas, TX	1.0	1.0	649	$1,445	$2.23	44d	1	0.74mi
2229 Hawes Ave Dallas, TX	1.0	1.0	649	$1,445	$2.23	22d	1	0.74mi
2345 W Mockingbird Ln Dallas, TX	1.0	1.0	649	$1,157	$1.78	44d	1	0.74mi
6418 Maple Ave Dallas, TX	2.0	2.0	1108	$1,992	$1.80	1d	4	0.91mi
1853 W Mockingbird Ln Dallas, TX	2.0	1.0	999	$1,404	$1.41	3d	1	0.92mi
6162 Maple Ave Dallas, TX	1.0–2.0	1.0–2.0	838	$1,799	$2.15	2d	19	1.15mi
6014 Maple Ave Dallas, TX	1.0	1.0	825	$1,576	$1.91	44d	1	1.19mi
6003 Maple Ave Dallas, TX	1.0	1.0	711	$1,048	$1.47	44d	1	1.20mi
6008 Maple Ave Dallas, TX	2.0	1.0–2.0	976	$2,220	$2.27	2d	21	1.22mi
5946 Forest Park Rd Dallas, TX	2.0	2.0	1110	$2,355	$2.12	44d	1	1.26mi
5940 Forest Park Rd Dallas, TX	2.0	1.0–2.0	837	$2,720	$3.25	5d	29	1.27mi
5959 Maple Ave Dallas, TX	2.0	1.0–2.0	841	$2,275	$2.71	2d	21	1.27mi
8180 Lemmon Ave #102 Dallas, TX	1.0	1.0	600	$1,075	$1.79	44d	1	1.36mi
8001 N Stemmons Fwy Unit 4231 Dallas, TX	1.0	1.0	675	$1,580	$2.34	44d	1	1.37mi
5726 Forest Park Rd Dallas, TX	2.0	2.0	944	$1,760	$1.86	44d	1	1.37mi
5706 Pickfair Cir Dallas, TX	2.0	1.0	643	$1,650	$2.57	44d	1	1.38mi
8001 N Stemmons Fwy Dallas, TX	2.0	1.0–2.0	945	$2,995	$3.17	3d	31	1.38mi
5720 Forest Park Rd Dallas, TX	2.0	1.0–2.0	878	$1,905	$2.17	4d	16	1.40mi
5753 Sadler Cir Dallas, TX	1.0	1.0	687	$1,500	$2.18	20d	1	1.41mi
2929 Inwood Rd Dallas, TX	1.0	1.0	648	$1,039	$1.60	44d	1	1.44mi
2727 Inwood Rd Dallas, TX	2.0	1.0–2.0	894	$2,075	$2.32	1d	39	1.49mi

Listing history 12 events

1. 2026-06-18
   days on market $340,000 Active 21 DOM
2. 2026-06-17
   days on market $340,000 Active 20 DOM
3. 2026-06-16
   days on market $340,000 Active 19 DOM
4. 2026-06-15
   days on market $340,000 Active 18 DOM
5. 2026-06-13
   pricedays on market $340,000 Active 16 DOM
6. 2026-06-09
   days on market $330,000 Active 12 DOM
7. 2026-06-08
   days on market $330,000 Active 11 DOM
8. 2026-06-07
   days on market $330,000 Active 10 DOM
9. 2026-06-04
   remarks 699-char remark
10. 2026-06-04
    statusdays on market $330,000 Active 7 DOM
11. 2026-04-27
    listed $330,000 Active
12. 2012-12-03
    soldstatus

ⓘ 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: $3,427 · $286/mo
• Projected year-2 tax: $6,222 · $518/mo
• Expected delta: +$2,795/yr (+$233/mo · 81.5%)

ⓘ 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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,912
• − Mortgage interest: −$19,045
• − Property taxes: −$3,427
• − Insurance: −$1,700
• − Repairs & maintenance: −$2,473
• − Management: −$2,473
• − Depreciation: −$9,891
• Taxable loss: −$8,097
• Est. tax savings @ 24.0%: +$1,943
• After-tax cash flow: $-159/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: Dallas ISD
• NCES district ID: 4816230
• Math proficiency: 31% ▼ -16.00%
• Reading proficiency: 36% ▼ -4.00%
• Median HH income: $42,881
• Composite: 28.41/100
• National rank: #6763
• State rank: #559 of 826 in TX

Livability — Dallas

• Score: 81/100
• State rank: #24
• US rank: #1380

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dallas, TX
• County: Dallas County · 2,612,404 people
• City population: 1,168,437
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 19,637
• Household income: $63,393
• Rent vs Own: 75.5% rent · 24.5% own
• Severe rent burden: 1427.0

Population outlook (Dallas County) Hauer SSP2

• Today (2025): 2,979,839 people
• By 2030: 3,191,823 · +7.1%
• By 2040: 3,619,611 · +21.5%
• By 2050: 4,026,915 · +35.1%
• By 2075: 4,957,073 · +66.4%
• By 2100: 5,508,725 · +84.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Hispanic / Latino 48% White 24% Black 15% Two or more races 13% Asian 10% Native American 2%
• Hispanic origin (detail): Mexican 41% Puerto Rican 1%
• Common ancestry: Italian 1% Slovak 1% Iranian 1%
• Foreign-born: 28% · Canada, China, South Korea
• Languages at home: 52% English-only · Spanish 39% Chinese 3% Tagalog/Filipino 2%

Political lean MEDSL · Dallas

• 2024 margin: Strong D (+22.2) · D 60.2% · R 38.0% · Other 1.8%
• 2008→2024 swing: +6.9pp toward D · 2008: 15.3pp · 2024: 22.2pp
• All cycles: 2024: D+22.2 2020: D+31.6 2016: D+26.2 2012: D+15.4 2008: D+15.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -106.47%
• Current HPI: 310.5719
• Rent YoY: ▼ -0.73%
• 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

+3.0% since first listed

4 events — show timeline

• 2026-06-11 Price Changed $340,000 NTREIS
• 2026-06-04 Relisted — NTREIS
• 2026-04-27 Listed $330,000 NTREIS
• 2012-12-03 Sold (Public Records) — Public Records

Property tax history

+7.1%/yr

Latest (2025): $3,427 · +0.6% YoY. Source: county tax records.