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3650 Miles St
Dallas, TX

3650 Miles St

$885,300
3 bd • 2 ba • 2,981 sf

This analysis was generated by artificial intelligence on 1/26/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

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AI Property Analysis

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List Price

$885,300

Price/Sq.Ft

$297

Year Built

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• Sizeable living space: The 2,981 sqft provides ample space for a family or those who prefer larger homes. This is above the average sqft for many homes. • Three bedrooms and two bathrooms: This setup is ideal for families or those who need extra space for guests or a home office. This is a common and desirable layout for many buyers. • Location in Dallas: Dallas is a major metropolitan area with diverse neighborhoods, employment opportunities, and amenities. The property’s location in Dallas is a positive aspect of this property. • Potential for modern design: The image suggests the property has a modern interior design. This is attractive to buyers looking for contemporary homes. The image shows that the property is likely well maintained. • Median income in the area: The median income of $103,130 suggests the property is located in an area with a strong economy and affluent residents. This may indicate a stable market.

The Bad

• Lack of property details: The absence of a property description and room details makes it difficult to assess the property's layout, condition, and specific features. This lack of transparency is a major drawback. • Unknown year built: The missing year built information makes it hard to determine the property's age, which is crucial for assessing maintenance needs, potential upgrades, and depreciation risks. Older properties typically require more maintenance and have higher insurance premiums. • No listed features: The absence of listed features prevents buyers from understanding the property’s unique characteristics, amenities, and upgrades. This lack of information makes it difficult to compare to other properties. • No utility information: Without utility information, potential buyers cannot estimate monthly costs. This makes it difficult to assess the total cost of ownership. • High price point: The property is priced at $885,300, which is higher than the median home price in many areas. This limits the pool of potential buyers and requires a higher down payment and mortgage.

The Ugly

• High price relative to missing information: The high asking price of $885,300, coupled with the lack of property details, raises concerns about overvaluation. It's difficult to justify the price without knowing key details about the property's condition and features. Without knowing the details, it is hard to know if the price is fair. • Potential for hidden issues: Without a property description, room details, or utility information, there is a high risk of hidden issues, such as structural problems, outdated systems, or pest infestations. Addressing these issues can be costly. • High property taxes: Texas has high property taxes, which can significantly increase the total cost of ownership. Buyers should expect to pay a considerable amount in property taxes annually (1.8-2.5% of the property value). • Risk of climate-related damage: Dallas experiences extreme heat, drought, and severe weather, which can lead to costly repairs (e.g., foundation issues, roof damage, and AC repairs). The lack of information regarding the house’s age makes it difficult to assess the risk of such issues. • Competitive market risks: The competitive Dallas market could lead to overpaying for the property. Buyers may feel pressured to waive contingencies, increasing their risk. There is a risk that the property's value may not match the price paid in the long term.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

• Families seeking a larger home with 3 bedrooms and 2 bathrooms in Dallas. The 2,981 sqft size is suitable for families needing more space than smaller starter homes. • Buyers comfortable with a higher price point in a competitive market. The property’s price at $885,300 reflects the current Dallas market conditions. • Individuals who appreciate modern design elements. The visible interior design suggests a more contemporary style. • Buyers who prioritize location and are willing to navigate the urban sprawl of Dallas. The address indicates a specific location that should be evaluated based on individual needs (commute, schools, etc.). • Buyers with a stable income that can manage the mortgage, higher property taxes, and potential upkeep costs associated with a larger home in Dallas.

Not For

• Budget-conscious buyers seeking a lower priced home. The $885,300 price tag is above the average for many buyers. • Buyers looking for a low-maintenance property. The lack of detailed information suggests potential maintenance and repair needs. • Buyers who prefer established neighborhoods with older homes. The modern design elements seen in the image indicate this is likely a newer build or a recently renovated home. • Buyers who are not prepared for the fast-paced Dallas real estate market. This property requires quick decision-making and the possibility of offering above asking price. • Buyers who are not comfortable with potential risks associated with the Dallas climate, such as extreme heat, severe weather, and foundation issues.
Demographics
Area Median Income

$103,130

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Risk Assessment

Risk Analysis

• Foundation issues: Dallas's expansive clay soil can cause foundation problems. A thorough inspection is crucial, and repairs can be costly, ranging from $5,000 to $20,000. • Age and condition: Without knowing the year built or the condition, there's a risk of hidden issues that could require costly repairs or renovations. The property could have outdated systems (HVAC, plumbing, electrical) that may need replacement. • High property taxes: Texas has high property taxes and this can impact the total cost of ownership. The current property tax rate in Dallas is between 1.8% and 2.5% of the property value annually. This translates to $1,300 - $1,850 per month. • Climate risks: Extreme heat and severe weather (tornadoes, hailstorms) pose ongoing risks. Insurance premiums are higher, and there are potential costs to maintain the property (e.g., landscaping, roof repairs). • Market competition: The competitive Dallas market could lead to overpaying. There is a risk that the property could be overvalued in a competitive environment.

Financials

Monthly Costs

Location & Comparables

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