Rental Investment Property in Dallas, Texas

4310 Utah Avenue Dallas, TX 75216

$230,000 | 3 Bedrooms | 2 Bathrooms | 5.0% Cap Rate

‍I'm Interested in this Property

Listing Description

Listing: Awning - Redfin - Zillow

Get ready to seize an incredible chance to become a rental property investor with this captivating 3-bedroom home in Dallas, Texas. Nestled at 4310 Utah Avenue, this gem is priced attractively at $230,000, promising outstanding returns. Boasting 1,759 square feet of living space, this property is perfect for tenants seeking comfort and style.

Step inside to discover a delightful interior filled with an abundance of natural sunlight that bathes the rooms, highlighting the original hardwood floors. The updated kitchen cabinets and fresh paint throughout lend a contemporary touch to this charming abode.

As you venture outside, be greeted by a generously-sized backyard adorned with majestic mature trees, beckoning you to transform it into your own personal oasis. Picture yourself hosting gatherings or simply unwinding in this tranquil and private setting.

One of the most enticing features of this investment opportunity is its location in an up-and-coming neighborhood. With an overall niche grade of C, this area shows immense promise for growth and increasing property values. Rest assured, the Awning team has meticulously reviewed the numbers associated with this home, ensuring accurate estimates and projections.

Investment Financials

How much does the home cost?

$230,000  

How much will it earn in rent?

$1,950 per month

How much will it cost to renovate?

According to the listing information, this home is move-in ready and requires no renovations. However, the seller has budgeted $1,500 for small touch-ups if needed.

How much cash can you take home in the first year?

In the first year, you can expect to generate a cash flow of -$625 from this rental property. While there might be a small negative cash flow initially, it's important to consider the long-term potential and benefits of this investment. As the property appreciates over time and rental rates increase, your cash flow is likely to improve. Additionally, there are tax benefits and deductions associated with owning a rental property that can positively impact your overall financial situation. With careful management and market conditions, this investment has the potential to provide significant returns and long-term financial stability.

What is the cap rate for this property?

The estimated cap rate for this property is 5.0%.

All of the cap rates and returns for this property are estimates and are not intended as a guarantee of income or returns. Every investment has risks. It's important to discuss any investment, returns, regulations, laws and projections with a financial advisor, attorney or another fiduciary.

Why People Rent In Dallas, Texas

Where is Dallas Texas?

Dallas is located in the state of Texas, which is in the southern part of the United States. It is situated in North Texas, specifically in the northeastern region of the state. Dallas is known for being a major city and economic hub, offering a vibrant metropolitan lifestyle with a mix of cultural attractions, thriving business sectors, and a diverse community.

What companies are the major employers in and around Dallas Texas?

• AT&T Inc.: As a multinational telecommunications conglomerate, AT&T is a powerhouse in the industry, providing a wide range of communication services to millions of customers worldwide. With its headquarters in Dallas, AT&T contributes to the city's thriving technological advancements and connectivity.
• Texas Instruments: Recognized globally, Texas Instruments is a leading semiconductor design and manufacturing company. Their cutting-edge technology and innovative solutions span various industries, including automotive, industrial, and consumer electronics. Dallas proudly hosts their headquarters, fostering a hub of technological innovation.
• Southwest Airlines: Embodied by their slogan "Luv," Southwest Airlines has become one of the largest low-cost carriers globally. With a commitment to exceptional customer service and affordable travel options, this Dallas-based airline has revolutionized the industry and continues to connect people across the nation.
• ExxonMobil: As an international energy company, ExxonMobil plays a vital role in the oil and gas sector. With operations spanning exploration, production, refining, and marketing, ExxonMobil's presence in Dallas signifies its contribution to the region's energy industry and economic growth.
• American Airlines: Recognized as one of the world's largest airlines, American Airlines has its headquarters in Dallas. With an extensive network of domestic and international flights, the company plays a pivotal role in facilitating air travel, connecting people, and driving tourism and business in the region.
• JPMorgan Chase & Co.: As a global financial services firm, JPMorgan Chase & Co. has a significant presence in Dallas. Its operations encompass investment banking, asset management, consumer banking, and more, contributing to the city's thriving financial sector and serving as a catalyst for economic development.
• Baylor Scott & White Health: This leading healthcare system and hospital network in Texas provides top-quality medical services, research, and education. With a strong presence in Dallas, Baylor Scott & White Health contributes to the region's healthcare industry, ensuring the well-being of its residents.
• Lockheed Martin: Known for its expertise in defense, aerospace, and technology, Lockheed Martin is a major employer in the Dallas area. Its advanced solutions and technological innovations support national security and drive advancements in various sectors, positioning Dallas as a hub for cutting-edge aerospace technology.
• Toyota: While located in nearby Plano, Texas, Toyota's large manufacturing facility has a significant impact on the Dallas area. As a renowned automotive manufacturer, Toyota's presence contributes to the region's manufacturing sector and represents a commitment to innovation and sustainability.
• The University of Texas Southwestern Medical Center: Esteemed for its medical education, research, and patient care, The University of Texas Southwestern Medical Center is a leading institution in Dallas. It attracts top talent, fosters medical advancements, and contributes to the city's reputation as a center for medical excellence.

What are the demographics of Dallas Texas?

As of 2023, the demographics of Dallas, Texas paint a diverse and dynamic picture of the city. With a population of approximately 1,259,404​1​ residents, Dallas is a vibrant melting pot of cultures and backgrounds. The racial composition reflects this diversity, with the largest group being White individuals, accounting for 57.75% of the population. Black or African American residents make up 24.3%, while individuals of other races constitute 7.6%. The city also has a significant population of individuals with mixed racial backgrounds, comprising 6.37% of the population. Asian residents account for 3.61%, and Native American, Native Hawaiian, or Pacific Islander individuals make up smaller proportions at 0.33% and 0.04% respectively​2​.

In terms of gender distribution, Dallas is relatively balanced, with approximately 50.41% female and 49.59% male residents​3​. The average family size in Dallas is 2.52, and the average household size is 4.1​4​. Language diversity is also prevalent in the city, with 42.63% of residents speaking languages other than English. Spanish is the most widely spoken non-English language, with 36.65% of the population using it for communication​5​.

Socioeconomic factors play a role in the demographics of Dallas. The overall poverty rate in the city is 16.3%, with the male poverty rate slightly higher at 19.8%. Among racial groups, Black residents have the highest poverty rate, with 30.95% falling below the poverty level​6​​7​. On a more positive note, the marriage rate in Dallas stands at 42.2%​8​.

The city also honors and supports its veterans, with a population of 38,537 individuals who have served in the armed forces​9​. Dallas exhibits a strong labor force, with a participation rate of 65.3%, and the unemployment rate stands at 4.9%​10​. These statistics demonstrate the diverse and vibrant population of Dallas, showcasing the city's commitment to inclusivity and opportunities for its residents.

What is the Niche neighborhood grade and school grade in Dallas Texas?

Dallas, Texas receives an impressive overall Niche grade of "A-" as of 2023, reflecting its strong appeal across various categories. When it comes to public schools, Dallas has been given a solid grade of "B," indicating the availability of quality education options. In terms of crime and safety, the grade is "C-," suggesting room for improvement in this area. The housing market receives a grade of "C+," indicating moderate affordability and availability. However, Dallas shines in terms of nightlife, earning an "A" grade, which highlights the vibrant entertainment and social scene the city offers. It also receives a positive grade of "B+" for being a good place for families. Furthermore, Dallas demonstrates a strong commitment to diversity, earning an "A" in this category​1​.

Niche has identified some exceptional schools in Dallas. St. Mark's School of Texas, a private school, garners an outstanding overall Niche grade of "A+" and boasts a student-teacher ratio of 9:1​2​. Another top-performing school is the School for the Talented & Gifted, a public institution with an exceptional overall Niche grade of "A+" and a student-teacher ratio of 18:1​3​. Greenhill School, a private educational institution, also receives an impressive overall Niche grade of "A+" and maintains a student-teacher ratio of 10:1​4​. These schools exemplify the educational excellence available in Dallas, providing students with enriching and supportive learning environments.

What is the property tax rate in Dallas Texas?

The property tax rate in Dallas, Texas, as of 2023, is $0.7458 per $100 in valuation.

How many rental listings and vacancies are in Dallas Texas?

As of 2023, there are 2,194 rental listings in Dallas, Texas​. The most recent data available for the rental vacancy rate is for the state of Texas in 2022, which was 7.9%​. Please note that this vacancy rate is for the entire state, not just Dallas. It's also from the previous year, and the current rate may be different.

What's the average rent in Dallas Texas?

As of May 2023, the average rent for a 1-bedroom apartment in Dallas, Texas is $1,408.

From Listing to Rental

1. Place an offer on this property: If you want help finding the best representation, simply submit your information by pressing "I'm Interested in this Property"
2. Close on the property: Closing on this property should be simple. An agent will help you review the contract and confirm that everything in the inspection report makes this a good deal.
3. Hire a property manager to manage your property: If you choose to use Property Management we can help you select the best service and get you a deal on management in the area.