607 Neches St · Dallas, TX 75208

$290,000

2 bd · 2.0 ba · 1,332 sqft · MultiFamily public records · 125 Days on market

Built 1930 2,178 sqft lot $218/sqft · 31% below area Est $420k · 31% under ↓ 11% since listing

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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).

• Cash flow +22.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +5.8/10.0
• Livability +4.0/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• 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 MLS

Prime location duplex in North Oak Cliff just minutes from Bishop Arts, Kessler Park and walking distance to Kidd Springs Park. Convenient access to Methodist Dallas Medical Center makes this property attractive for medical and professional tenants. Total of 1332 sq ft across two units, each offering 2 bedrooms. Small lot with strong investment potential thanks to location, walkability and rental demand. Ideal for investors exploring long-term or short-term rental opportunities. This would be a full rehab project.

Key facts

• 2,178 sq ft lot
• Built 1930
• Listed 124 days

Tags

• PRIME LOCATION DUPLEX
• STRONG INVESTMENT POTENTIAL

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $290k.

Deal economics

• At list price, monthly cash flow is $493 ($6k/yr) — positive. Per door: $247/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $290k).
• Recommended offer: $255k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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: schools C-, 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.
• Market conditions: Rents soft (-1.8%/yr); 244 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).
• At $3,118/mo this rent would consume 46% of the median local household income ($82k/yr) (locally 1005% 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 $9k 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 125 days — a 12% lower offer ($255k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• 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.

Recommended offer $255,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 125 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.08% ✓
• Cap rate: 8.33%
• Cash-on-cash: 7.29%
• DSCR: 1.32
• GRM: 7.8

CMA / ARV

• ARV (median comp): $419,888
• List price: $290,000
• Delta: -30.93%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
621 W Neely St	0.41mi	2/2.0	1,332 (0%)	15mo	$425,000	$319	68
112 W 8th St	0.71mi	2/2.0	1,296 (-3%)	3mo	$380,000	$293	60

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -8.5%
• Equity multiple: 0.70×
• Total profit: $-24,691
• Equity at exit: $43,240

10-year hold

• IRR: -3.5%
• Equity multiple: 0.80×
• Total profit: $-16,259
• Equity at exit: $25,074

Cash invested: $81,200 (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 75208

• Rents YoY: -1.8%
• Active inventory: 244
• Price-to-rent: 15.5×

Monthly cashflow live

• Estimated rent: $3,118 high
• Mortgage (P&I): −$1,521
• Tax from tax record: −$328 /mo · $3,941/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$655
• Net cashflow: $493

Break-even live

Break-even rent $2,494

Max offer price $290,000

Occupancy floor 79%

Sensitivity live

Price	-10% $657	-5% $575	+0% $493	+5% $411	+10% $329
Rent	-10% $247	-5% $370	+0% $493	+5% $616	+10% $740
Rate	-1.0pp $639	-0.5pp $567	base $493	+0.5pp $418	+1.0pp $342

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,118
Total (2 units)			$3,118

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
612 W 5th St Dallas, TX	2.0	1.0	992	$2,150	$2.17	25d	1	0.14mi
1008 Haines Ave Dallas, TX	2.0	2.0	1200	$2,400	$2.00	45d	1	0.15mi
738 Woodlawn Ave Unit 446 Dallas, TX	2.0	2.0	1100	$1,495	$1.36	22d	1	0.27mi
738 Woodlawn Ave Unit 450 Dallas, TX	2.0	2.0	1100	$1,900	$1.73	22d	1	0.27mi
826 N Bishop Ave Dallas, TX	1.0	1.0	879	$1,395	$1.59	45d	1	0.28mi
801 N Bishop Ave Unit 1-205 Dallas, TX	2.0	2.0	1185	$2,099	$1.77	5d	1	0.28mi
909 Elsbeth St Unit 1019507P Dallas, TX	3.0	3.0	1786	$9,981	$5.59	23d	1	0.33mi
1022 Eldorado Ave #101 Dallas, TX	1.0	2.5	1208	$2,100	$1.74	45d	1	0.37mi
635 Haines Ave Dallas, TX	2.0	2.5	1520	$2,300	$1.51	45d	1	0.38mi
612 Haines Ave Dallas, TX	2.0	1.0	1200	$2,866	$2.39	45d	1	0.44mi
645 N Tyler St Dallas, TX	2.0	2.5	1646	$2,850	$1.73	4d	2	0.52mi
645 N Tyler St Dallas, TX	2.0–3.0	2.5	1672	$2,950	$1.76	45d	2	0.52mi
505 W 8th St Dallas, TX	1.0–2.0	1.0–2.0	925	$3,079	$3.33	0d	26	0.53mi
629 N Tyler St #102 Dallas, TX	2.0	2.5	1380	$2,539	$1.84	45d	1	0.55mi
629 N Tyler St Unit 107 Dallas, TX	2.0	2.5	1380	$2,539	$1.84	23d	1	0.55mi
631 N Tyler St #202 Dallas, TX	2.0	2.5	1780	$2,900	$1.63	25d	1	0.55mi
631 N Tyler St #304 Dallas, TX	2.0	2.5	1780	$2,850	$1.60	45d	1	0.55mi
631 N Tyler St #401 Dallas, TX	2.0	2.5	1780	$3,000	$1.69	6d	1	0.56mi
631 N Tyler St #204 Dallas, TX	2.0	2.5	1780	$3,000	$1.69	9d	1	0.56mi
728 N Beckley Ave Dallas, TX	3.0	2.0	1320	$2,800	$2.12	9d	1	0.57mi
1207 N Zang Blvd Dallas, TX	3.0	1.0–2.0	1009	$2,486	$2.46	3d	29	0.57mi
524 W 8th St Dallas, TX	1.0	1.0	896	$1,120	$1.25	45d	1	0.57mi
111 W Davis St Dallas, TX	1.0–2.0	1.0–2.0	999	$2,961	$2.96	0d	28	0.59mi
114 E Chester Ct Dallas, TX	3.0	3.0	1834	$3,000	$1.64	25d	1	0.61mi
632 Melba St Dallas, TX	3.0	2.5	1765	$2,900	$1.64	45d	1	0.64mi
435 W 9th St Unit E, F, G Dallas, TX	3.0	3.0	1120	$2,800	$2.50	25d	1	0.65mi
200 N Bishop Ave Unit 223 Dallas, TX	2.0	2.0	1209	$2,873	$2.38	0d	1	0.68mi
410 W 9th St Unit 104 Dallas, TX	2.0	2.5	1566	$2,699	$1.72	45d	1	0.68mi
1520 N Beckley Ave Dallas, TX	1.0–2.0	1.0–2.0	935	$2,088	$2.23	0d	19	0.69mi
422 W 9th St Unit 1042 Dallas, TX	2.0	2.0	1301	$2,085	$1.60	45d	1	0.69mi
422 W 9th St Unit 321 Dallas, TX	1.0	1.0	904	$1,454	$1.61	45d	1	0.69mi
422 W 9th St Unit 328 Dallas, TX	2.0	2.0	1369	$2,031	$1.48	45d	1	0.69mi
239 W 9th St Unit 6-226 Dallas, TX	2.0	2.0	1398	$2,098	$1.50	45d	1	0.70mi
239 W 9th St Unit 1148 Dallas, TX	2.0	2.0	1144	$2,002	$1.75	45d	1	0.70mi
1216 Kings Hwy Dallas, TX	2.0	1.0	1130	$1,900	$1.68	45d	1	0.70mi
211 E Davis St Dallas, TX	1.0–2.0	1.0–2.0	707	$1,550	$2.19	4d	8	0.72mi
401 N Polk St Dallas, TX	2.0	1.0	1200	$2,100	$1.75	45d	1	0.73mi
329 E Colorado Blvd Dallas, TX	1.0–2.0	1.0–2.0	1086	$2,070	$1.91	25d	2	0.74mi
329 E Colorado Blvd Unit 1852 Dallas, TX	2.0	2.0	1352	$2,070	$1.53	45d	1	0.74mi
928 N Windomere Ave Unit D Dallas, TX	2.0	1.0	875	$1,200	$1.37	9d	1	0.75mi

Listing history 19 events

1. 2026-06-21
   days on market $290,000 Active 125 DOM
2. 2026-06-18
   days on market $290,000 Active 122 DOM
3. 2026-06-17
   days on market $290,000 Active 121 DOM
4. 2026-06-16
   days on market $290,000 Active 120 DOM
5. 2026-06-15
   days on market $290,000 Active 119 DOM
6. 2026-06-13
   days on market $290,000 Active 117 DOM
7. 2026-06-09
   days on market $290,000 Active 113 DOM
8. 2026-06-08
   days on market $290,000 Active 112 DOM
9. 2026-06-07
   days on market $290,000 Active 111 DOM
10. 2026-06-04
    days on market $290,000 Active 108 DOM
11. 2026-06-03
    days on market $290,000 Active 107 DOM
12. 2026-06-02
    days on market $290,000 Active 106 DOM
13. 2026-06-02
    days on market $290,000 Active 105 DOM
14. 2026-05-31
    days on market $290,000 Active 104 DOM
15. 2026-05-06
    price $290,000 519-char remark

    Show marketing remark (519 chars)

    Prime location duplex in North Oak Cliff just minutes from Bishop Arts, Kessler Park and walking distance to Kidd Springs Park. Convenient access to Methodist Dallas Medical Center makes this property attractive for medical and professional tenants. Total of 1332 sq ft across two units, each offering 2 bedrooms. Small lot with strong investment potential thanks to location, walkability and rental demand. Ideal for investors exploring long-term or short-term rental opportunities. This would be a full rehab project.

16. 2026-03-13
    price $310,000 519-char remark

    Show marketing remark (519 chars)

    Prime location duplex in North Oak Cliff just minutes from Bishop Arts, Kessler Park and walking distance to Kidd Springs Park. Convenient access to Methodist Dallas Medical Center makes this property attractive for medical and professional tenants. Total of 1332 sq ft across two units, each offering 2 bedrooms. Small lot with strong investment potential thanks to location, walkability and rental demand. Ideal for investors exploring long-term or short-term rental opportunities. This would be a full rehab project.

17. 2026-02-16
    listed $325,000 Active 519-char remark

    Show marketing remark (519 chars)

    Prime location duplex in North Oak Cliff just minutes from Bishop Arts, Kessler Park and walking distance to Kidd Springs Park. Convenient access to Methodist Dallas Medical Center makes this property attractive for medical and professional tenants. Total of 1332 sq ft across two units, each offering 2 bedrooms. Small lot with strong investment potential thanks to location, walkability and rental demand. Ideal for investors exploring long-term or short-term rental opportunities. This would be a full rehab project.

18. 2012-08-02
    soldstatus
19. 1982-12-29
    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: $3,941 · $328/mo
• Projected year-2 tax: $5,307 · $442/mo
• Expected delta: +$1,366/yr (+$114/mo · 34.7%)

ⓘ 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 ≥109°F today · 22 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: $37,416
• − Mortgage interest: −$16,245
• − Property taxes: −$3,941
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,993
• − Management: −$2,993
• − Depreciation: −$8,436
• Taxable income: $1,358
• Est. tax owed @ 24.0%: −$326
• After-tax cash flow: $5,593/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): 29,367
• Household income: $81,950
• Rent vs Own: 45.8% rent · 54.2% own
• Severe rent burden: 1005.0

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 0.57)
• Race & ethnicity: Hispanic / Latino 55% White 34% Two or more races 21% Black 7% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 48%
• Common ancestry: Romanian 2% Italian 2% Slovak 2%
• Foreign-born: 22% · Canada
• Languages at home: 56% English-only · Spanish 42% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -410.06%
• Current HPI: 393.6928
• Rent YoY: ▼ -1.83%
• 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

-10.8% since first listed

5 events — show timeline

• 2026-05-06 Price Changed $290,000 NTREIS
• 2026-03-13 Price Changed $310,000 NTREIS
• 2026-02-16 Listed $325,000 NTREIS
• 2012-08-02 Sold (Public Records) — Public Records
• 1982-12-29 Sold (Public Records) — Public Records

Property tax history

+3.5%/yr

Latest (2025): $3,941 · -0.4% YoY. Source: county tax records.