1228 Valley St · Dallas, TX 75203

$184,900

3 bd · 1.0 ba · 1,173 sqft · SingleFamily public records · 62 Days on market

Built 1930 3,659 sqft lot $158/sqft · 20% below area Est $231k · 20% under

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Why this score? — see what drove the B- 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 +19.6/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +6.2/10.0
• 1% rule +5.8/10.0
• Livability +4.0/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0

Listing remarks MLS

Charming and full of character, this updated 2-bedroom, 1-bathroom home blends timeless architectural details with some upgrades. The inviting front porch and distinctive arched design elements set the tone for what’s inside. Step into a light-filled interior featuring fresh paint throughout and stylish, updated flooring that flows from room to room. The spacious living and dining areas are highlighted by elegant archways, adding warmth and architectural interest while maintaining an open, airy feel. Don’t miss the opportunity to make this unique property your own!

Key facts

• Elegant archways
• Front porch
• Updated flooring

Tags

• FRONT PORCH
• ARCHED DESIGN ELEMENTS
• LIGHT FILLED INTERIOR
• UPDATED FLOORING
• ELEGANT ARCHWAYS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $-214 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $147k (20.5% below list).
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $147k (20.5% below list) — sets the bar for cash-flow.
• Cap rate 7.7% 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: 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 (-2.7%/yr); 142 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).
• At $1,993/mo this rent would consume 51% of the median local household income ($47k/yr) (locally 948% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Dallas County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $47k; list at $185k implies a 297% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $147,042 (20.5% 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. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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: 7.67%
• Cash-on-cash: 4.92%
• DSCR: 1.22
• GRM: 7.7

CMA / ARV

• ARV (median comp): $231,328
• List price: $184,900
• Delta: -20.07%
• 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
311 Leads St	0.26mi	3/1.0	1,176 (+0%)	9mo	$250,000	$213	80
1120 Betterton Cir	0.31mi	3/2.0	1,178 (+0%)	7mo	$220,000	$187	75
1207 Morrell Ave	0.29mi	3/2.0	1,258 (+7%)	0mo	$249,999	$199	70
1211 Strickland St	0.41mi	3/1.0	1,164 (-1%)	16mo	$121,000	$104	66
327 Pecan Dr	0.60mi	3/2.0	1,196 (+2%)	10mo	$198,500	$166	56
1327 Valley St	0.09mi	3/2.0	1,050 (-10%)	22mo	$240,000	$229	56
1023 Fernwood	0.53mi	3/2.0	1,101 (-6%)	14mo	$294,999	$268	49
1218 E Waco Ave	0.57mi	2/1.0 (-1)	1,224 (+4%)	14mo	$189,000	$154	49
1411 E Waco Ave	0.57mi	3/2.0	1,300 (+11%)	6mo	$263,800	$203	47
1255 Harlandale Ave	0.73mi	3/2.0	1,074 (-8%)	19mo	$269,000	$250	32
422 Cleaves St	0.66mi	3/2.0	1,313 (+12%)	22mo	$250,000	$190	27
1263 Harlandale Ave	0.74mi	3/2.0	1,335 (+14%)	21mo	$190,000	$142	21

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

Projected returns pro-forma

10.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 19.6%
• Equity multiple: 2.58×
• Total profit: $81,554
• Equity at exit: $166,573

10-year hold

• IRR: 17.2%
• Equity multiple: 5.66×
• Total profit: $241,122
• Equity at exit: $359,220

Cash invested: $51,772 (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 75203

• Home prices YoY: 31.8%
• Rents YoY: -2.7%
• Active inventory: 142
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,993 high
• Mortgage (P&I): −$970
• Tax from tax record: −$316 /mo · $3,791/yr
• Insurance: −$77
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $-214

Break-even live

Break-even rent $2,265

Max offer price $147,042

Occupancy floor —

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1210 Grant St Dallas, TX	4.0	1.0	1370	$2,050	$1.50	7d	1	0.15mi
1028 Claude St Dallas, TX	2.0	1.0	988	$1,800	$1.82	24d	1	0.25mi
1027 Morrell Ave Dallas, TX	2.0	1.0	1140	$1,800	$1.58	44d	1	0.28mi
607 Woodbine Ave Dallas, TX	2.0	1.0	782	$1,350	$1.73	7d	1	0.29mi
1511 Doyle Ave Dallas, TX	3.0	2.0	1262	$1,900	$1.51	7d	1	0.31mi
850 S Ewing Ave Dallas, TX	1.0–2.0	1.0–2.5	1086	$2,450	$2.25	3d	2	0.41mi
405 S Ewing Ave Unit 309 Dallas, TX	3.0	2.0	1343	$2,875	$2.14	24d	1	0.42mi
405 S Ewing Ave Unit 406 Dallas, TX	2.0	2.0	1102	$2,550	$2.31	44d	1	0.42mi
948 S Corinth Street Rd #1 Dallas, TX	2.0	2.0	1013	$1,650	$1.63	44d	1	0.52mi
948 S Corinth Street Rd #1 Dallas, TX	2.0	2.0	1013	$1,650	$1.63	24d	1	0.52mi
948 S Corinth Street Rd #5 Dallas, TX	2.0	2.0	920	$1,550	$1.68	44d	1	0.52mi
1018 E Waco Ave Dallas, TX	3.0	1.0	1112	$1,395	$1.25	44d	1	0.55mi
1710 Morrell Ave Dallas, TX	2.0	1.0–2.0	654	$2,069	$3.16	3d	40	0.57mi
948 S Corinth Street Rd Unit 6 Dallas, TX	2.0	2.0	1013	$1,625	$1.60	14d	1	0.59mi
432 Hart St Dallas, TX	4.0	2.0	1303	$2,300	$1.77	7d	1	0.68mi
1825 Dudley Ave Dallas, TX	4.0	2.0	1228	$2,400	$1.95	2d	1	0.77mi
521 N Denley Dr Dallas, TX	3.0	2.5	1387	$2,500	$1.80	44d	1	0.79mi
405 N Ewing Ave Dallas, TX	3.0	1.0–2.0	941	$2,875	$3.05	2d	48	0.82mi
2002 Dudley Ave Dallas, TX	2.0	1.0	750	$1,375	$1.83	7d	1	0.82mi
212 Stellariga Pl Dallas, TX	2.0	2.5	1342	$2,345	$1.75	44d	1	0.83mi
335 N Marsalis Ave Dallas, TX	3.0	2.0	1260	$2,100	$1.67	44d	1	0.88mi
406 Lansing St Dallas, TX	2.0	2.0	1014	$2,145	$2.12	6d	1	0.88mi
801 Avenue I Unit 1-205 Dallas, TX	2.0	2.0	1185	$2,099	$1.77	3d	1	0.90mi
2254 Areba St Dallas, TX	2.0	1.0	1120	$1,425	$1.27	7d	1	0.93mi
2254 Areba St Unit A Dallas, TX	2.0	1.0	1120	$1,450	$1.29	44d	1	0.93mi
2250 Areba St Unit A Dallas, TX	2.0	1.0	779	$1,850	$2.37	44d	1	0.93mi
1310 Michigan Ave Dallas, TX	3.0	2.0	972	$1,900	$1.95	24d	1	0.94mi
715 Dover St Dallas, TX	3.0	2.0	1180	$1,995	$1.69	7d	1	0.94mi
609 N Lancaster Ave Dallas, TX	1.0–2.0	1.0	725	$1,149	$1.58	2d	2	0.98mi
2118 Berwick Ave Dallas, TX	3.0	2.0	1286	$2,188	$1.70	7d	1	1.00mi
211 E Davis St Dallas, TX	1.0–2.0	1.0–2.0	707	$1,550	$2.19	3d	8	1.00mi
606 N Marsalis Ave Dallas, TX	2.0	1.0	800	$1,475	$1.84	11d	2	1.00mi
624 N Lancaster Ave Dallas, TX	2.0	1.0–2.0	800	$2,365	$2.96	7d	4	1.01mi
627 N Lancaster Ave Dallas, TX	2.0	1.0–2.0	800	$1,950	$2.44	3d	7	1.02mi
900 E Colorado Blvd Dallas, TX	3.0	1.0–2.0	914	$2,743	$3.00	2d	31	1.08mi
111 W Davis St Dallas, TX	1.0–2.0	1.0–2.0	999	$3,011	$3.01	2d	33	1.13mi
728 N Beckley Ave Dallas, TX	3.0	2.0	1320	$2,800	$2.12	7d	1	1.14mi
239 W 9th St Unit 1148 Dallas, TX	2.0	2.0	1144	$2,002	$1.75	44d	1	1.21mi
239 W 9th St Unit 6-226 Dallas, TX	2.0	2.0	1398	$2,098	$1.50	44d	1	1.21mi
615 Elsbeth St Dallas, TX	1.0–2.0	1.0	760	$1,599	$2.10	6d	2	1.24mi

Listing history 17 events

1. 2026-06-18
   status $184,900 Pending 62 DOM
2. 2026-06-17
   days on market $184,900 Active Contingent 62 DOM
3. 2026-06-16
   days on market $184,900 Active Contingent 61 DOM
4. 2026-06-15
   days on market $184,900 Active Contingent 60 DOM
5. 2026-06-13
   days on market $184,900 Active Contingent 58 DOM
6. 2026-06-09
   days on market $184,900 Active Contingent 54 DOM
7. 2026-06-08
   days on market $184,900 Active Contingent 53 DOM
8. 2026-06-07
   days on market $184,900 Active Contingent 52 DOM
9. 2026-06-04
   days on market $184,900 Active Contingent 49 DOM
10. 2026-06-03
    days on market $184,900 Active Contingent 48 DOM
11. 2026-06-02
    days on market $184,900 Active Contingent 47 DOM
12. 2026-06-02
    status $184,900 Active Contingent 46 DOM
13. 2026-06-01
    days on market $184,900 Active Option Contract 46 DOM
14. 2026-05-31
    days on market $184,900 Active Option Contract 45 DOM
15. 2026-05-15
    price $184,900 583-char remark

    Show marketing remark (583 chars)

    Charming and full of character, this updated 2-bedroom, 1-bathroom home blends timeless architectural details with some upgrades. The inviting front porch and distinctive arched design elements set the tone for what’s inside. Step into a light-filled interior featuring fresh paint throughout and stylish, updated flooring that flows from room to room. The spacious living and dining areas are highlighted by elegant archways, adding warmth and architectural interest while maintaining an open, airy feel. Don’t miss the opportunity to make this unique property your own!

16. 2026-04-16
    listed $194,900 Active 583-char remark

    Show marketing remark (583 chars)

    Charming and full of character, this updated 2-bedroom, 1-bathroom home blends timeless architectural details with some upgrades. The inviting front porch and distinctive arched design elements set the tone for what’s inside. Step into a light-filled interior featuring fresh paint throughout and stylish, updated flooring that flows from room to room. The spacious living and dining areas are highlighted by elegant archways, adding warmth and architectural interest while maintaining an open, airy feel. Don’t miss the opportunity to make this unique property your own!

17. 2025-11-07
    soldstatus $46,600

ⓘ 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: $3,791 · $316/mo
• Projected year-2 tax: $3,791 · $316/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 6/10 Major FEMA zone AE · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,921
• − Mortgage interest: −$10,357
• − Property taxes: −$3,791
• − Insurance: −$6,043
• − Repairs & maintenance: −$1,914
• − Management: −$1,914
• − Depreciation: −$5,379
• Taxable loss: −$5,476
• Est. tax savings @ 24.0%: +$1,314
• After-tax cash flow: $-1,257/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): 15,775
• Household income: $46,989
• Rent vs Own: 62.1% rent · 37.9% own
• Severe rent burden: 948.0

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 0.55)
• Race & ethnicity: Hispanic / Latino 59% Black 31% Two or more races 17% White 7% Native American 2%
• Hispanic origin (detail): Mexican 53%
• Common ancestry: Lithuanian 1% Swiss 1%
• Foreign-born: 29% · Canada, China, Jamaica
• Languages at home: 47% English-only · Spanish 51% 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: ▲ 86.64%
• Current HPI: 358.9507
• Rent YoY: ▼ -2.72%
• 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

+296.8% since first listed

3 events — show timeline

• 2026-05-15 Price Changed $184,900 NTREIS
• 2026-04-16 Listed $194,900 NTREIS
• 2025-11-07 Sold (Public Records) $46,600 Public Records

Property tax history

+8.1%/yr

Latest (2025): $3,791 · -0.0% YoY. Source: county tax records.