3604 Heath Ln · Mesquite, TX 75150

$179,990

3 bd · 2.0 ba · 1,428 sqft · SingleFamily public records · 67 Days on market

Built 1961 7,449 sqft lot $126/sqft · 28% below area Est $248k · 28% under

---

Why this score? — see what drove the C- 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 +15.0/15.0
• Cash flow +14.9/30.0
• 1% rule +5.8/10.0
• DSCR +4.5/10.0
• Livability +3.5/5.0
• Schools +2.9/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Calling all CASH investors! This property is the diamond in the rough you’ve been searching for. Located in an established Mesquite neighborhood, this home is a blank canvas ready for a full renovation. The bones are here; it just needs your vision and a complete overhaul to shine. If you’re looking for your next flip, this home offers equity potential. Just 15 minutes from Downtown Dallas and minutes from Town East Mall, dining, shopping, HWY635 & I-30, the location is unbeatable for future tenants or buyers.

Key facts

• Full renovation
• 7,449 sq ft lot
• 2 parking spots

Tags

• FULL RENOVATION
• MINUTES FROM TOWN EAST MALL

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $51 ($617/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $169k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.6% vs local median 4.4% in Mesquite — 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 70/100 on livability (#358 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: schools C-, crime F, commute F.
• Mesquite ISD (suburban): math 35% / reading 32% proficiency, ranked #536 of 826 in TX (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 186 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).
• This rent runs 36% of the median local income ($65k/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 $1k of loan paydown is wiped out by about $5k 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 67 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y 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.
• Current owner paid $57k; list at $180k implies a 216% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price.
• 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 $169,190 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
8. 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.
9. 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: 1.08% ✓
• Cap rate: 6.64%
• Cash-on-cash: 1.22%
• DSCR: 1.05
• GRM: 7.7

CMA / ARV

• ARV (median comp): $248,403
• List price: $179,990
• Delta: -27.54%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3605 Heath Ln	0.02mi	3/2.0	1,266 (-11%)	5mo	$130,000	$103	76
3707 Casa Ridge Dr	0.09mi	4/2.0 (+1)	1,276 (-11%)	0mo	$145,000	$114	73
2708 Driftwood Dr	0.18mi	3/2.0	1,263 (-12%)	4mo	$279,999	$222	69
2525 Belhaven Dr	0.53mi	3/2.0	1,485 (+4%)	0mo	$249,900	$168	68
2517 Belhaven Dr	0.51mi	3/2.0	1,527 (+7%)	4mo	$284,900	$187	61
2607 Eastridge Dr	0.68mi	3/2.0	1,458 (+2%)	5mo	$174,900	$120	61
4020 Oleander Trl	0.71mi	3/2.0	1,450 (+2%)	6mo	$207,500	$143	59
2602 Eastridge St	0.65mi	3/2.0	1,504 (+5%)	3mo	$245,000	$163	58
2918 Owen Ln	0.49mi	3/2.0	1,571 (+10%)	2mo	$250,000	$159	58
4013 Oleander Trl	0.71mi	3/2.0	1,585 (+11%)	1mo	$289,000	$182	48
4125 Oleander Trl	0.60mi	3/1.0	1,260 (-12%)	1mo	$190,000	$151	48
2316 Greenhill Dr	0.65mi	3/2.0	1,632 (+14%)	7mo	$300,000	$184	40

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 · 0.4% rent growth · sell at horizon

5-year hold

• IRR: -17.8%
• Equity multiple: 0.39×
• Total profit: $-30,671
• Equity at exit: $26,837

10-year hold

• IRR: -17.1%
• Equity multiple: 0.18×
• Total profit: $-41,074
• Equity at exit: $15,562

Cash invested: $50,397 (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 75150

• Home prices YoY: -33.8%
• Rents YoY: 0.4%
• Active inventory: 186
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,943 high
• Mortgage (P&I): −$944
• Tax from tax record: −$465 /mo · $5,575/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $51

Break-even live

Break-even rent $1,878

Max offer price $179,990

Occupancy floor 92%

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: $44,998
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3511 Casa Ridge Dr Mesquite, TX	4.0	1.5	1276	$1,759	$1.38	8d	1	0.09mi
3718 Gus Thomasson Rd Mesquite, TX	1.0–2.0	1.0–2.0	752	$1,515	$2.01	2d	44	0.23mi
2305 Driftwood Dr Mesquite, TX	1.0–2.0	1.0–2.0	842	$1,765	$2.10	2d	30	0.42mi
3036 Shire Dr Mesquite, TX	3.0	2.5	1691	$2,350	$1.39	13d	1	0.46mi
2969 Baneberry Ln Mesquite, TX	3.0	2.5	1716	$2,400	$1.40	8d	1	0.47mi
3021 Percheron Dr Unit NA Mesquite, TX	3.0	3.0	1754	$2,299	$1.31	8d	1	0.47mi
3021 Percheron Dr Mesquite, TX	3.0	3.0	1754	$2,299	$1.31	18d	1	0.47mi
3017 Percheron Dr Mesquite, TX	3.0	3.0	1473	$1,995	$1.35	22d	1	0.48mi
3004 Baneberry Ln Mesquite, TX	3.0	3.0	1786	$2,445	$1.37	44d	1	0.49mi
4035 Towne Crossing Blvd Mesquite, TX	1.0–2.0	1.0–2.0	747	$1,480	$1.98	2d	30	0.51mi
2941 Baneberry Ln Mesquite, TX	3.0	2.5	1810	$2,500	$1.38	44d	1	0.51mi
2948 Percheron Dr Unit NA Mesquite, TX	3.0	2.5	1691	$1,995	$1.18	24d	1	0.51mi
2944 Baneberry Ln Mesquite, TX	3.0	2.5	1772	$2,400	$1.35	44d	1	0.52mi
3110 Berkshire Dr Mesquite, TX	3.0	2.0	1755	$2,183	$1.24	8d	1	0.58mi
2820 Percheron Dr Mesquite, TX	3.0	2.5	1769	$2,400	$1.36	24d	1	0.60mi
2908 Mare Dr Mesquite, TX	3.0	2.5	1722	$2,100	$1.22	44d	1	0.61mi
2909 Bluets Dr Mesquite, TX	3.0	2.5	1728	$2,000	$1.16	15d	1	0.63mi
2920 Bluets Dr Mesquite, TX	3.0	3.0	1477	$2,250	$1.52	22d	1	0.66mi
2837 Appaloosa Ln Mesquite, TX	3.0	2.5	1837	$2,500	$1.36	44d	1	0.72mi
3315 Kensington Dr Mesquite, TX	3.0	2.0	1641	$1,900	$1.16	44d	1	0.74mi
4047 Childress Ave Mesquite, TX	1.0–2.0	1.0–2.0	999	$1,655	$1.66	44d	24	0.78mi
4047 Childress Ave Mesquite, TX	1.0–2.0	1.0–2.0	864	$1,334	$1.54	3d	5	0.78mi
3404 Gray Dr Mesquite, TX	4.0	2.0	1516	$2,150	$1.42	13d	1	0.80mi
3206 Heather Glen Dr Mesquite, TX	4.0	2.0	1708	$4,800	$2.81	1d	1	0.82mi
4345 Chestnut Dr Mesquite, TX	3.0	2.0	1100	$1,525	$1.39	2d	1	0.88mi
2502 Rosewood Dr Mesquite, TX	4.0	2.0	1665	$2,150	$1.29	44d	1	0.90mi
3500 Statler Dr Mesquite, TX	3.0	2.0	1557	$1,895	$1.22	24d	1	0.91mi
2808 Belhaven Dr Mesquite, TX	3.0	1.5	1199	$1,695	$1.41	2d	1	0.92mi
3412 Beth Dr Mesquite, TX	3.0	1.0	1148	$1,795	$1.56	44d	1	0.94mi
3532 Hilton Dr Mesquite, TX	3.0	1.5	1216	$1,690	$1.39	3d	1	0.96mi
3531 Bonita Vista Cir Mesquite, TX	4.0	2.0	1358	$1,950	$1.44	24d	1	0.98mi
3531 Bonita Vista Cir Mesquite, TX	4.0	2.0	1358	$1,950	$1.44	13d	1	0.98mi
3622 Gray Dr Mesquite, TX	3.0	2.0	1786	$2,200	$1.23	8d	1	1.07mi
3520 Sidney Dr Mesquite, TX	4.0	3.0	1400	$2,150	$1.54	44d	1	1.07mi
2310 La Costa Mesquite, TX	3.0	2.0	1479	$2,000	$1.35	8d	1	1.08mi
3512 Bahamas Dr Mesquite, TX	3.0	2.0	1455	$1,795	$1.23	24d	1	1.11mi
3512 Bahamas Dr Mesquite, TX	3.0	2.0	1455	$1,795	$1.23	12d	1	1.11mi
3512 Bahamas Dr Mesquite, TX	3.0	2.0	1455	$1,795	$1.23	21d	1	1.11mi
4008 Shackelford Dr Mesquite, TX	3.0	2.0	1451	$2,125	$1.46	15d	1	1.17mi
3703 Byrd Dr Mesquite, TX	3.0	1.5	1702	$2,150	$1.26	3d	1	1.19mi

Listing history 25 events

1. 2026-06-09
   days on market $179,990 Active 67 DOM
2. 2026-06-08
   days on market $179,990 Active 66 DOM
3. 2026-06-07
   days on market $179,990 Active 65 DOM
4. 2026-06-04
   days on market $179,990 Active 62 DOM
5. 2026-06-03
   days on market $179,990 Active 61 DOM
6. 2026-06-02
   days on market $179,990 Active 60 DOM
7. 2026-06-01
   days on market $179,990 Active 59 DOM
8. 2026-05-31
   days on market $179,990 Active 58 DOM
9. 2026-04-19
   status Active 531-char remark

   Show marketing remark (531 chars)

   Calling all CASH investors! This property is the diamond in the rough you’ve been searching for. Located in an established Mesquite neighborhood, this home is a blank canvas ready for a full renovation. The bones are here; it just needs your vision and a complete overhaul to shine. If you’re looking for your next flip, this home offers equity potential. Just 15 minutes from Downtown Dallas and minutes from Town East Mall, dining, shopping, HWY635 & I-30, the location is unbeatable for future tenants or buyers.

10. 2026-04-08
    historical Active Option Contract 531-char remark

    Show marketing remark (531 chars)

    Calling all CASH investors! This property is the diamond in the rough you’ve been searching for. Located in an established Mesquite neighborhood, this home is a blank canvas ready for a full renovation. The bones are here; it just needs your vision and a complete overhaul to shine. If you’re looking for your next flip, this home offers equity potential. Just 15 minutes from Downtown Dallas and minutes from Town East Mall, dining, shopping, HWY635 & I-30, the location is unbeatable for future tenants or buyers.

11. 2026-04-03
    listed $179,990 Active 531-char remark

    Show marketing remark (531 chars)

    Calling all CASH investors! This property is the diamond in the rough you’ve been searching for. Located in an established Mesquite neighborhood, this home is a blank canvas ready for a full renovation. The bones are here; it just needs your vision and a complete overhaul to shine. If you’re looking for your next flip, this home offers equity potential. Just 15 minutes from Downtown Dallas and minutes from Town East Mall, dining, shopping, HWY635 & I-30, the location is unbeatable for future tenants or buyers.

12. 2020-04-02
    soldstatus
13. 2020-04-01
    soldstatus Sold 476-char remark

    Show marketing remark (476 chars)

    Great home in North Mesquite! Lots of updates on this one. . fresh paint inside and out, ceramic tile and wood laminate floors through out, spacious living area and formal dining with lots of natural lighting. Kitchen updated with granite counter tops and stainless steel appliances, including gas stove. Three bedrooms and two full baths, extended and remodeled for extra space. Large backyard perfect for entertaining! Cute and cozy with neutral colors, ready for new owner.

14. 2020-03-02
    status Pending 476-char remark

    Show marketing remark (476 chars)

    Great home in North Mesquite! Lots of updates on this one. . fresh paint inside and out, ceramic tile and wood laminate floors through out, spacious living area and formal dining with lots of natural lighting. Kitchen updated with granite counter tops and stainless steel appliances, including gas stove. Three bedrooms and two full baths, extended and remodeled for extra space. Large backyard perfect for entertaining! Cute and cozy with neutral colors, ready for new owner.

15. 2020-02-17
    historical Active Option Contract 476-char remark

    Show marketing remark (476 chars)

    Great home in North Mesquite! Lots of updates on this one. . fresh paint inside and out, ceramic tile and wood laminate floors through out, spacious living area and formal dining with lots of natural lighting. Kitchen updated with granite counter tops and stainless steel appliances, including gas stove. Three bedrooms and two full baths, extended and remodeled for extra space. Large backyard perfect for entertaining! Cute and cozy with neutral colors, ready for new owner.

16. 2020-02-08
    price $169,900 476-char remark

    Show marketing remark (476 chars)

    Great home in North Mesquite! Lots of updates on this one. . fresh paint inside and out, ceramic tile and wood laminate floors through out, spacious living area and formal dining with lots of natural lighting. Kitchen updated with granite counter tops and stainless steel appliances, including gas stove. Three bedrooms and two full baths, extended and remodeled for extra space. Large backyard perfect for entertaining! Cute and cozy with neutral colors, ready for new owner.

17. 2020-01-02
    price $174,900 476-char remark

    Show marketing remark (476 chars)

    Great home in North Mesquite! Lots of updates on this one. . fresh paint inside and out, ceramic tile and wood laminate floors through out, spacious living area and formal dining with lots of natural lighting. Kitchen updated with granite counter tops and stainless steel appliances, including gas stove. Three bedrooms and two full baths, extended and remodeled for extra space. Large backyard perfect for entertaining! Cute and cozy with neutral colors, ready for new owner.

18. 2019-12-28
    listed $169,900 Active 476-char remark

    Show marketing remark (476 chars)

    Great home in North Mesquite! Lots of updates on this one. . fresh paint inside and out, ceramic tile and wood laminate floors through out, spacious living area and formal dining with lots of natural lighting. Kitchen updated with granite counter tops and stainless steel appliances, including gas stove. Three bedrooms and two full baths, extended and remodeled for extra space. Large backyard perfect for entertaining! Cute and cozy with neutral colors, ready for new owner.

19. 2017-06-22
    historical
20. 2017-06-21
    status Active
21. 2017-06-03
    historical
22. 2017-05-05
    listed $140,000 Active
23. 1999-12-20
    soldstatus
24. 1996-08-13
    soldstatus $57,006
25. 1996-02-19
    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: $5,575 · $465/mo
• Projected year-2 tax: $5,575 · $465/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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,314
• − Mortgage interest: −$10,082
• − Property taxes: −$5,575
• − Insurance: −$900
• − Repairs & maintenance: −$1,865
• − Management: −$1,865
• − Depreciation: −$5,236
• Taxable loss: −$2,209
• Est. tax savings @ 24.0%: +$530
• After-tax cash flow: $1,147/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: Mesquite ISD
• NCES district ID: 4830390
• Math proficiency: 35% ▼ -11.00%
• Reading proficiency: 32% ▼ -7.00%
• Median HH income: $49,372
• Composite: 29.06/100
• National rank: #6606
• State rank: #536 of 826 in TX

Livability — Mesquite

• Score: 70/100
• State rank: #358
• US rank: #7743

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mesquite, TX
• County: Dallas County · 2,612,404 people
• City population: 150,788
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 62,738
• Household income: $65,440
• Rent vs Own: 48.6% rent · 51.4% own
• Severe rent burden: 3609.0

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 0.66)
• Race & ethnicity: Hispanic / Latino 47% White 27% Two or more races 21% Black 21% Asian 3%
• Hispanic origin (detail): Mexican 42%
• Common ancestry: Slovak 1% Lithuanian 1% Serbian 1%
• Foreign-born: 20% · Canada, Vietnam, China
• Languages at home: 56% English-only · Spanish 40% Other Asian/Pacific 1% Arabic 1%

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: ▼ -172.95%
• Current HPI: 338.3934
• Rent YoY: ▲ 0.40%
• 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

+215.7% since first listed

17 events — show timeline

• 2026-04-19 Relisted — NTREIS
• 2026-04-08 Contingent — NTREIS
• 2026-04-03 Listed $179,990 NTREIS
• 2020-04-02 Sold (Public Records) — Public Records
• 2020-04-01 Sold (MLS) — NTREIS
• 2020-03-02 Pending — NTREIS
• 2020-02-17 Contingent — NTREIS
• 2020-02-08 Price Changed $169,900 NTREIS
• 2020-01-02 Price Changed $174,900 NTREIS
• 2019-12-28 Listed $169,900 NTREIS
• 2017-06-22 Listing Removed — NTREIS
• 2017-06-21 Relisted — NTREIS
• 2017-06-03 Listing Removed — NTREIS
• 2017-05-05 Listed $140,000 NTREIS
• 1999-12-20 Sold (Public Records) — Public Records
• 1996-08-13 Sold (Public Records) $57,006 Public Records
• 1996-02-19 Sold (Public Records) — Public Records

Property tax history

+6.4%/yr

Latest (2025): $5,575 · +1.1% YoY. Source: county tax records.