Dallas-Fort Worth, Oak Cliff Zip Codes Are Tops in Nation for Home Flipping

Home flipping may be cooling in several areas across the U.S., but Dallas-Fort Worth and one of its Oak Cliff zip codes are still among the hottest markets for buying, fixing up, and flipping houses, according to a new report by Attom Data Solutions.

The 10th Busiest Home Flip Market

Downtown Dallas skyline framed in gazebo with bench.

For the second consecutive year, North Texas held on to its spot as the 10th busiest home flip market in the U.S. although the top markets in Phoenix, New York City, and Miami had more than twice as many flips. 

Based on third quarter flips each year, the Attom report revealed that home flips on the national level are at a three-year low and profits are the least they’ve been in six-and-a-half-years. But profits for Dallas-Fort Worth flippers often hover below the national average. 

Despite 2017 being a record-breaking year in North Texas real estate, the average gross profit on each flipped property was $46,218, compared to the median gross return of $68,143 nationally. Last year, average D-FW gross profits dropped to $41,250, and the mean national gross return dipped to about $63,000. 

Home flipping, which is characterized by properties that sell twice within a 12-month period, is often a gauge that signals impending market changes.

"Flippers are a lot of times on the forefront of recognizing when the market is slowing down, and they will be some of the first to pull back,” Daren Blomquist, Attom Data’s senior vice president and top economist, told the Dallas Morning News. "It started in the first quarter of [2018], and [that was] the third consecutive quarter we [saw] a year-over-year decrease in the number of home flips. They recognize that it is a more risky market to flip in."

In the Dallas-Fort Worth market, flippers have ramped up marketing from direct mail and telecommunications to taking to the streets and knocking on doors. Consequently, they’re still significantly impacting pre-owned home sales in the local market.

The Top Zip Codes for Home Flipping in Dallas-Fort Worth

Aerial of residential neighborhood and rows of homes in Texas.

An abundance of older neighborhoods scattered throughout Dallas-Fort Worth are havens for home flippers. A prime example is the 75224 zip code in Oak Cliff, which was listed by Attom Data Solutions as one of the hottest areas for home flipping in the country.

75224

Out of the 916 homes sold there over the past 12 months, flips accounted for 26.8 percent of the sales, according to the Dallas News. Though sales range from $24,900 to $585,000, the median sale was $203,625. The average stay on the market was 28 days, and houses typically sold for 100.01 percent of the asking price.

Neighborhoods in the Area:

75232

In the 75232 zip code in Oak Cliff, 20.8 percent of the homes sold over the last year were flips. Most sold within 17 days for 100 percent of the asking price.

Neighborhoods in the Area:

75243

The Dallas 75243 zip code, between Richardson and Lake Highlands, includes a broad mix of housing. Of the 2,543 homes sold there over the past year, 11.6 percent were flips. Though sale prices varied from $22,500 to $1,050,000, the average price was $193,500, and most houses sold for 100 percent of their estimated value.

Neighborhoods in the Area:

75149

In Mesquite’s 75149 zip code, flips accounted for 11.2 percent of the 2,994 homes sold over the past 12 months. While sale prices ran the gamut from $19,900 to $399,999, the median price was $159,250, and homes usually sold for 100 percent of the estimated value.

Neighborhoods in the Area:

75150

On the north side of the city, 2,598 homes sold in Mesquite’s 75150 zip code in the past year, and 10.6 percent were flips. Despite sales ranging from $39,900 to $384,000, the average price was $175,000.

Neighborhoods in an Area:

Other Zip Codes

Other top Dallas-Fort Worth zip codes for home flips include 75216 in southern Dallas with 19.1 percent, 76117 in Haltom City in Tarrant County with 18.4 percent, 76112 in Fort Worth with 11.1 percent of home flips, 75227 in Southeast Dallas with 10.5 percent, and 75228 in the Casa View and Casa Linda areas of Dallas with 9.6 percent of home flips.

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