6108 Abrams Rd #128

Dallas, TX 75231

$67,500C-

1 bd · 1.0 ba · 500 sqft · Built 2005 · Condo · Active · 25 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,000/mo
• Mortgage (P&I): −$354
• Tax + insurance: −$186
• HOA: −$274
• Vac / Maint / Mgmt: −$210
• Net cashflow: $-25/mo
• Annual: $-294/yr
• Cap rate: 5.86%
• Cash-on-cash: -1.56%
• DSCR: 0.93
• 1% rule: 1.48%
• Cash to close: $18,900

Investor read

• This is a 1-bed/1.0-bath condo listed at $68k. Condition is rated fair.
• At list price, monthly cash flow is $-25 ($-294/yr) — negative.
• To cash-flow at today's rent, offer at most $63k (6.4% below list).
• Meets the 1% rule at list price ($1k rent vs $68k).
• It's been on market 25 days — a 2% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $63k (6.4% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $467 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• 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.
• Dallas ISD (urban): math 31% / reading 36% proficiency, ranked #559 of 826 in TX (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 83% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: L L Hotchkiss El (math 28% / reading 30%, grade F, #2,668 of 4,322 statewide, top 63%, 495 students, 96% FRL); Sam Tasby Middle (math 27% / reading 21%, grade F, #1,301 of 1,662 statewide, top 79%, 709 students, 97% FRL); Emmett J Conrad H S (math 42% / reading 27%, grade F, #963 of 1,632 statewide, top 61%, 1,280 students, 98% FRL).
• Watch-outs: property tax is 2.8% of price; HOA is 27% of rent.
• Market conditions: Rents rising (+2.0%/yr); 317 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 64d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).
• Dallas County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 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.
• Cap rate 5.9% 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.

Questions for listing agent

• 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?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Paint — Paint appears faded and could benefit from touch-up
• Minor: Ceiling fan — Ceiling fan is functional but could be replaced for a more modern look