9696 Walnut St #608 · Dallas, TX 75243

$75,000

2 bd · 1.5 ba · 903 sqft · Condo public records · 457 Days on market

Built 1981 $83/sqft · at area comps Est $74k · at est. $384/mo HOA · 32% 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 +12.9/30.0
• 1% rule +10.0/10.0
• ARV discount +7.1/15.0
• Livability +4.0/5.0
• DSCR +3.8/10.0
• 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

Discover this delightful two-story unit ideally situated near I-635 in Dallas. With its own private stairway entrance, this condo offers a spacious living area adorned with a cozy fireplace and access to a private balcony—perfect for relaxing or entertaining. The oversized bedroom boasts soaring vaulted ceilings and ample closet space, providing both comfort and functionality. Currently tenant-occupied through June 30, 2026, at a rental rate of $950 per month, this property offers immediate income potential. The HOA is actively enhancing the community with major renovations to building exteriors and common areas already underway. Important Buyer Note: This complex is fully tenant-occupied and non-warrantable. Buyers using financing must confirm lender approval under these conditions. Cash offers are strongly preferred. Don't miss this fantastic investment opportunity in a growing area!

Key facts

• Oversized bedroom
• Spacious living area
• Balcony

Tags

• DIRECT STAIRWAY ACCESS
• SPACIOUS LIVING AREA
• FIREPLACE
• BALCONY
• OVERSIZED BEDROOM
• VAULTED CEILINGS

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $75k.

Deal economics

• At list price, monthly cash flow is $-6 ($-72/yr) — negative.
• To cash-flow at today's rent, offer at most $74k (1.4% below list).
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.2% 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.
• 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.
• 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 18d 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 $519 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

• It's been on market 457 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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 2.5% of price; HOA is 32% 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 $66,000 (12.0% 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 457 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.62% ✓
• Cap rate: 6.20%
• Cash-on-cash: -0.34%
• DSCR: 0.98
• GRM: 5.1

CMA / ARV

• ARV (median comp): $74,285
• List price: $75,000
• Delta: 0.96%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -23.0%
• Equity multiple: 0.25×
• Total profit: $-15,804
• Equity at exit: $11,183

10-year hold

• IRR: -50.3%
• Equity multiple: -0.28×
• Total profit: $-26,832
• Equity at exit: $6,485

Cash invested: $21,000 (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: 5.1×

Monthly cashflow live

• Estimated rent: $1,216 high
• Mortgage (P&I): −$393
• Tax from tax record: −$158 /mo · $1,900/yr
• Insurance: −$31
• HOA: −$384
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $-6

Break-even live

Break-even rent $1,224

Max offer price $73,946

Occupancy floor 95%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9696 Walnut St Dallas, TX	1.0–2.0	1.0–2.0	866	$1,150	$1.33	13d	5	0.06mi
9696 Walnut St Dallas, TX	1.0–2.0	1.0–2.0	866	$1,150	$1.33	3d	5	0.06mi
9696 Walnut St Dallas, TX	1.0–2.0	1.0–2.0	866	$1,325	$1.53	24d	7	0.06mi
9621 Walnut St Unit 6106 Dallas, TX	1.0	1.0	876	$1,250	$1.43	43d	1	0.13mi
9601 Walnut St Dallas, TX	1.0	1.0	759	$1,075	$1.42	43d	2	0.15mi
9805 Walnut St Dallas, TX	1.0–2.0	1.0–2.0	758	$1,500	$1.98	17d	2	0.24mi
12920 Audelia Rd Dallas, TX	1.0–2.0	1.0–2.0	888	$1,680	$1.89	2d	25	0.29mi
9801 Walnut St #214 Dallas, TX	1.0	1.0	774	$1,300	$1.68	18d	1	0.34mi
9944 Walnut St Dallas, TX	1.0–2.0	1.0–2.0	775	$1,380	$1.78	2d	40	0.38mi
9825 Walnut St Dallas, TX	1.0	1.0	551	$1,000	$1.81	43d	1	0.44mi
9825 Walnut St #206 Dallas, TX	2.0	2.0	1031	$1,250	$1.21	43d	1	0.44mi
9825 Walnut St Unit M103 Dallas, TX	1.0	1.0	551	$1,000	$1.81	1d	1	0.44mi
9831 Walnut St #206 Dallas, TX	2.0	2.0	1031	$1,500	$1.45	43d	1	0.47mi
9831 Walnut St #209 Dallas, TX	2.0	2.0	1031	$1,600	$1.55	43d	1	0.47mi
9833 Walnut St Dallas, TX	2.0	2.0	894	$1,099	$1.23	2d	1	0.50mi
9815 Walnut St #212 Dallas, TX	2.0	2.0	894	$1,450	$1.62	24d	1	0.52mi
9815 Walnut St #102 Dallas, TX	1.0	1.0	662	$1,100	$1.66	1d	1	0.52mi
9835 Walnut St #102 Dallas, TX	1.0	1.0	662	$895	$1.35	43d	1	0.52mi
9835 Walnut St #202 Dallas, TX	2.0	1.0	774	$1,150	$1.49	24d	1	0.52mi
9855 Shadow Way Dallas, TX	2.0	1.0–2.0	760	$1,395	$1.83	3d	20	0.54mi
9839 Walnut St Unit 210 Dallas, TX	2.0	2.0	1055	$1,600	$1.52	43d	1	0.54mi
9837 Walnut St Dallas, TX	2.0	1.0–2.0	919	$1,248	$1.36	7d	2	0.55mi
9837 Walnut St Unit 103 Dallas, TX	2.0	1.0	808	$1,045	$1.29	7d	1	0.55mi
9813 Walnut St #104 Dallas, TX	1.0	1.0	551	$750	$1.36	43d	1	0.55mi
9813 Walnut St Unit 303 Dallas, TX	1.0	1.0	535	$695	$1.30	24d	1	0.55mi
9821 Walnut St Unit K203 Dallas, TX	2.0	2.0	894	$1,200	$1.34	43d	1	0.56mi
10000 Walnut St Dallas, TX	2.0	1.0–2.0	717	$1,426	$1.99	2d	23	0.65mi
12121 Audelia Rd Dallas, TX	1.0–2.0	1.0–2.0	862	$1,450	$1.68	1d	41	0.66mi
12111 Audelia Rd Dallas, TX	1.0–2.0	1.0–2.0	862	$1,300	$1.51	1d	42	0.67mi
12484 Abrams Rd #1724 Dallas, TX	2.0	2.0	1006	$1,500	$1.49	43d	1	0.67mi
12482 Abrams Rd #1327 Dallas, TX	2.0	2.0	959	$1,655	$1.73	3d	1	0.70mi
540 Buckingham Rd Richardson, TX	1.0–3.0	1.0–2.0	964	$1,675	$1.74	2d	34	0.72mi
11991 Audelia Rd Dallas, TX	1.0–2.0	1.0–2.0	827	$1,315	$1.59	1d	36	0.72mi
12480 Abrams Rd Ste 921 Dallas, TX	1.0	1.0	700	$1,400	$2.00	24d	1	0.73mi
12480 Abrams Rd #705 Dallas, TX	1.0	1.0	729	$1,150	$1.58	10d	1	0.74mi
12480 Abrams Rd #124 Dallas, TX	1.0	1.0	775	$1,150	$1.48	43d	1	0.74mi
12480 Abrams Rd Dallas, TX	1.0	1.0	756	$1,100	$1.45	2d	3	0.74mi
12480 Abrams Rd Dallas, TX	1.0	1.0	756	$1,100	$1.46	18d	2	0.74mi
12480 Abrams Rd Dallas, TX	1.0	1.0	756	$1,100	$1.46	7d	3	0.74mi
530 Buckingham Rd Richardson, TX	1.0–3.0	1.0–2.0	995	$1,872	$1.88	2d	24	0.76mi

HOA detail condo

• Monthly dues: $384 · $4,608/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-18
   days on market $75,000 Active 457 DOM
2. 2026-06-17
   days on market $75,000 Active 456 DOM
3. 2026-06-16
   days on market $75,000 Active 455 DOM
4. 2026-06-15
   days on market $75,000 Active 454 DOM
5. 2026-06-13
   days on market $75,000 Active 452 DOM
6. 2026-06-09
   days on market $75,000 Active 448 DOM
7. 2026-06-08
   days on market $75,000 Active 447 DOM
8. 2026-06-07
   days on market $75,000 Active 446 DOM
9. 2026-06-04
   days on market $75,000 Active 443 DOM
10. 2026-06-03
    days on market $75,000 Active 442 DOM
11. 2026-06-02
    days on market $75,000 Active 441 DOM
12. 2026-06-01
    days on market $75,000 Active 440 DOM
13. 2026-05-31
    days on market $75,000 Active 439 DOM
14. 2025-03-18
    listed $75,000 Active 907-char remark

    Show marketing remark (907 chars)

    Discover this delightful two-story unit ideally situated near I-635 in Dallas. With its own private stairway entrance, this condo offers a spacious living area adorned with a cozy fireplace and access to a private balcony—perfect for relaxing or entertaining. The oversized bedroom boasts soaring vaulted ceilings and ample closet space, providing both comfort and functionality. Currently tenant-occupied through June 30, 2026, at a rental rate of $950 per month, this property offers immediate income potential. The HOA is actively enhancing the community with major renovations to building exteriors and common areas already underway. Important Buyer Note: This complex is fully tenant-occupied and non-warrantable. Buyers using financing must confirm lender approval under these conditions. Cash offers are strongly preferred. Don't miss this fantastic investment opportunity in a growing area!

15. 2024-09-19
    historical
16. 2024-07-10
    listed $84,700 Active
17. 2024-05-29
    soldstatus
18. 2024-05-28
    soldstatus Closed
19. 2024-05-14
    status Pending
20. 2024-05-02
    price $65,000
21. 2024-01-12
    price $75,000
22. 2023-11-17
    price $79,000
23. 2023-11-16
    listed $89,000 Active
24. 2023-11-04
    historical
25. 2022-11-04
    listed $89,000 Active
26. 2018-08-30
    soldstatus
27. 2006-11-07
    soldstatus $1,500,000

ⓘ 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: $1,900 · $158/mo
• Projected year-2 tax: $1,900 · $158/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: $14,597
• − Mortgage interest: −$4,201
• − Property taxes: −$1,900
• − Insurance: −$375
• − Repairs & maintenance: −$1,168
• − Management: −$1,168
• − HOA: −$4,608
• − Depreciation: −$2,182
• Taxable loss: −$1,005
• Est. tax savings @ 24.0%: +$241
• After-tax cash flow: $170/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

-95.0% since first listed

14 events — show timeline

• 2025-03-18 Listed $75,000 NTREIS
• 2024-09-19 Listing Removed — NTREIS
• 2024-07-10 Listed $84,700 NTREIS
• 2024-05-29 Sold (Public Records) — Public Records
• 2024-05-28 Sold (MLS) — NTREIS
• 2024-05-14 Pending — NTREIS
• 2024-05-02 Price Changed $65,000 NTREIS
• 2024-01-12 Price Changed $75,000 NTREIS
• 2023-11-17 Price Changed $79,000 NTREIS
• 2023-11-16 Listed $89,000 NTREIS
• 2023-11-04 Listing Removed — NTREIS
• 2022-11-04 Listed $89,000 NTREIS
• 2018-08-30 Sold (Public Records) — Public Records
• 2006-11-07 Sold (Public Records) $1,500,000 Public Records

Property tax history

+4.8%/yr

Latest (2025): $1,900 · -10.2% YoY. Source: county tax records.