9805 Walnut St #204 · Dallas, TX 75243

$60,000

2 bd · 2.0 ba · 894 sqft · Condo public records · 1 Days on market

Built 1981 $400/mo HOA · 33% of rent

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Why this score? — see what drove the D+ 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 +14.3/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• Livability +4.0/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Rent growth +1.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice 2 story condo, 2 bedrooms, 2 full baths. Separate 2nd story entry, appliances stay. Pools, tennis court, near Richland College and shoopping centers. 3 swimming pools, tennnis courts, on site HOA. Newer carpet.

Key facts

• 2 balconies
• Near front entrance
• $400 HOA

Tags

• 2 BALCONIES
• NEAR FRONT ENTRANCE

Property features AI

Finance

• Other: Community pool
• Financial info: Accepts Cash, Conventional financing, and 1031 Exchange
• HOA & community: Mandatory association; Monthly association fee of $400; HOA covers insurance, grounds and structure maintenance, sewer, water, and full use of facilities; HOA managed by Contemporary Properties

Exterior

• Parking: Assigned parking
• Security: Smoke detectors
• Utilities: City water; City sewer; Community mailbox (postal)
• Home design: Condominium (attached); Two levels; Built in 1981
• Construction: Brick and siding exterior; Composition roof; Slab foundation
• Exterior features: Patio; Condominium lot setting; Community mailbox

Interior

• Kitchen: Electric range; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms (Primary bedroom on level 2; second bedroom listed on level 3)
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air (electric); Electric heating
• Interior features: Eat-in kitchen; Window coverings; One living area; One dining area; Room count: 4; Wood-burning fireplace
• Laundry & utility: Washer hookup; Electric dryer hookup; Stacked washer/dryer area

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $60k.

Deal economics

• At list price, monthly cash flow is $11 ($133/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Cap rate 6.5% 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: crime F.
• Richardson ISD (urban): math 40% / reading 44% proficiency, ranked #316 of 826 in TX (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Audelia Creek El (math 15% / reading 18%, grade F, #3,946 of 4,322 statewide, top 92%, 553 students, 88% FRL) — zoned schools average 88% FRL vs 54% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 16% at this address vs 42% district-wide (-26 pts) — the specific schools serving this property underperform the Richardson ISD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents falling (-5.3%/yr); 271 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 20y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: property tax is 4.2% of price; HOA is 33% of rent.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $60,000

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 2.02% ✓
• Cap rate: 6.51%
• Cash-on-cash: 0.79%
• DSCR: 1.04
• GRM: 4.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -22.4%
• Equity multiple: 0.27×
• Total profit: $-12,231
• Equity at exit: $8,946

10-year hold

• IRR: -64.6%
• Equity multiple: -0.32×
• Total profit: $-22,094
• Equity at exit: $5,188

Cash invested: $16,800 (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 75243

• Rents YoY: -5.3%
• Active inventory: 271
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,215 high
• Mortgage (P&I): −$315
• Tax from tax record: −$209 /mo · $2,508/yr
• Insurance: −$25
• HOA: −$400
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $11

Break-even live

Break-even rent $1,201

Max offer price $60,000

Occupancy floor 94%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9801 Walnut St #214 Dallas, TX	1.0	1.0	774	$1,300	$1.68	18d	1	0.08mi
9944 Walnut St Dallas, TX	1.0–2.0	1.0–2.0	775	$1,380	$1.78	1d	40	0.09mi
9825 Walnut St #206 Dallas, TX	2.0	2.0	1031	$1,250	$1.21	43d	1	0.11mi
9825 Walnut St Dallas, TX	1.0	1.0	551	$1,000	$1.81	43d	1	0.11mi
9825 Walnut St Unit M103 Dallas, TX	1.0	1.0	551	$1,000	$1.81	1d	1	0.11mi
9815 Walnut St #102 Dallas, TX	1.0	1.0	662	$1,100	$1.66	1d	1	0.12mi
9815 Walnut St #212 Dallas, TX	2.0	2.0	894	$1,450	$1.62	24d	1	0.12mi
9833 Walnut St Dallas, TX	2.0	2.0	894	$1,099	$1.23	1d	1	0.13mi
9831 Walnut St #209 Dallas, TX	2.0	2.0	1031	$1,600	$1.55	43d	1	0.14mi
9831 Walnut St #206 Dallas, TX	2.0	2.0	1031	$1,500	$1.45	43d	1	0.14mi
12920 Audelia Rd Dallas, TX	1.0–2.0	1.0–2.0	888	$1,680	$1.89	1d	25	0.15mi
9821 Walnut St Unit K203 Dallas, TX	2.0	2.0	894	$1,200	$1.34	43d	1	0.15mi
9835 Walnut St #202 Dallas, TX	2.0	1.0	774	$1,150	$1.49	24d	1	0.15mi
9835 Walnut St #102 Dallas, TX	1.0	1.0	662	$895	$1.35	43d	1	0.15mi
9813 Walnut St #104 Dallas, TX	1.0	1.0	551	$750	$1.36	43d	1	0.15mi
9813 Walnut St Unit 303 Dallas, TX	1.0	1.0	535	$695	$1.30	24d	1	0.15mi
9837 Walnut St Dallas, TX	2.0	1.0–2.0	919	$1,248	$1.36	7d	2	0.16mi
9839 Walnut St Unit 210 Dallas, TX	2.0	2.0	1055	$1,600	$1.52	43d	1	0.17mi
9837 Walnut St Unit 103 Dallas, TX	2.0	1.0	808	$1,045	$1.29	7d	1	0.17mi
9805 Walnut St Dallas, TX	1.0–2.0	1.0–2.0	758	$1,500	$1.98	17d	2	0.18mi
10000 Walnut St Dallas, TX	2.0	1.0–2.0	717	$1,426	$1.99	1d	23	0.29mi
9855 Shadow Way Dallas, TX	2.0	1.0–2.0	760	$1,395	$1.83	3d	20	0.31mi
9696 Walnut St Dallas, TX	1.0–2.0	1.0–2.0	866	$1,325	$1.53	24d	7	0.37mi
9696 Walnut St Dallas, TX	1.0–2.0	1.0–2.0	866	$1,150	$1.33	2d	5	0.37mi
9696 Walnut St Dallas, TX	1.0–2.0	1.0–2.0	866	$1,150	$1.33	13d	5	0.37mi
9601 Walnut St Dallas, TX	1.0	1.0	759	$1,075	$1.42	43d	2	0.41mi
9621 Walnut St Unit 6106 Dallas, TX	1.0	1.0	876	$1,250	$1.43	43d	1	0.42mi
12111 Audelia Rd Dallas, TX	1.0–2.0	1.0–2.0	862	$1,300	$1.51	1d	42	0.64mi
4614 Hanover Dr Garland, TX	3.0	1.0	1062	$1,699	$1.60	24d	1	0.72mi
4614 Hanover Dr Garland, TX	3.0	1.0	1062	$1,699	$1.60	13d	1	0.72mi
12121 Audelia Rd Dallas, TX	1.0–2.0	1.0–2.0	862	$1,450	$1.68	1d	41	0.73mi
11991 Audelia Rd Dallas, TX	1.0–2.0	1.0–2.0	827	$1,315	$1.59	1d	36	0.73mi
12303 Plano Rd Dallas, TX	2.0–4.0	1.0–2.0	1070	$1,391	$1.30	43d	1	0.83mi
540 Buckingham Rd Richardson, TX	1.0–3.0	1.0–2.0	964	$1,675	$1.74	1d	34	0.84mi
9737 Forest Ln Dallas, TX	1.0–2.0	1.0–2.0	650	$1,100	$1.69	16d	30	0.87mi
9669 Forest Ln Dallas, TX	1.0–2.0	1.0–2.0	827	$1,380	$1.67	3d	36	0.92mi
9920 Forest Ln Dallas, TX	1.0	1.0	739	$1,048	$1.42	7d	2	0.93mi
9920 Forest Ln Dallas, TX	1.0–2.0	1.0–2.0	882	$1,295	$1.47	22d	3	0.93mi
9920 Forest Ln Dallas, TX	1.0	1.0	777	$1,145	$1.47	15d	1	0.93mi
11700 Audelia Rd Dallas, TX	1.0–2.0	1.0–2.0	830	$1,485	$1.79	7d	15	0.94mi

HOA detail condo

• Monthly dues: $400 · $4,800/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-18
   remarks 237-char remark
2. 2026-06-18
   listed $60,000 Active 1 DOM

ⓘ 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: $2,508 · $209/mo
• Projected year-2 tax: $2,508 · $209/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 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 · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,578
• − Mortgage interest: −$3,361
• − Property taxes: −$2,508
• − Insurance: −$300
• − Repairs & maintenance: −$1,166
• − Management: −$1,166
• − HOA: −$4,800
• − Depreciation: −$1,745
• Taxable loss: −$469
• Est. tax savings @ 24.0%: +$113
• After-tax cash flow: $245/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: Richardson ISD
• NCES district ID: 4837020
• Math proficiency: 40% ▼ -14.00%
• Reading proficiency: 44% ▼ -6.00%
• Median HH income: $54,609
• Composite: 36.58/100
• National rank: #4633
• State rank: #316 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): 63,481
• Household income: $53,618
• Rent vs Own: 73.4% rent · 26.6% own
• Severe rent burden: 5970.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Black 43% Hispanic / Latino 23% White 22% Two or more races 10% Asian 7%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Swiss 1% Slovak 1% Lithuanian 1%
• Foreign-born: 34% · Canada, Vietnam, South Korea
• Languages at home: 56% English-only · Spanish 21% Other Indo-European 3% French/Haitian/Cajun 2%

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: ▼ -203.08%
• Current HPI: 317.5287
• Rent YoY: ▼ -5.31%
• 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

+42.9% since first listed

10 events — show timeline

• 2026-06-18 Listed $60,000 NTREIS
• 2011-03-09 Sold (Public Records) — Public Records
• 2007-06-13 Sold (Public Records) — Public Records
• 2007-06-11 Sold (MLS) — NTREIS
• 2007-05-21 Listing Removed — NTREIS
• 2006-12-01 Listed $41,990 NTREIS
• 2001-08-13 Sold (Public Records) — Public Records
• 1997-10-28 Sold (Public Records) — Public Records
• 1997-10-28 Sold (Public Records) — Public Records
• 1993-03-31 Sold (Public Records) — Public Records

Property tax history

+5.4%/yr

Latest (2025): $2,508 · -0.2% YoY. Source: county tax records.