9831 Walnut St #205 · Dallas, TX 75243

$85,555

2 bd · 2.0 ba · 1,031 sqft · Condo public records · 182 Days on market

Built 1983 $83/sqft · 12% below area Est $97k · 12% under $355/mo HOA · 27% of rent ↓ 39% since listing

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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).

• ARV discount +12.8/15.0
• Cash flow +11.1/30.0
• 1% rule +10.0/10.0
• Livability +4.0/5.0
• Schools +3.7/10.0
• DSCR +3.2/10.0
• Condition / age +2.5/5.0
• Rent growth +1.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

One-of-a-kind condo located in the Richland Trace community, just minutes from shopping centers and major Dallas highways, as well as Richland Community College. This beautifully remodeled 2-bedroom, 2-bathroom condo boasts stunning brand-new laminate flooring and fresh paint throughout. The modern kitchen features natural countertops and a cozy coffee bar and comes equipped with all the necessary appliances, conveniently adjacent to the living room. The oversized master bedroom includes a walk-in closet and a full bathroom. The monthly HOA fee covers the condo utilities, excluding electricity, which paid by the tenant or owner. The building is centrally located within the community, which also offers a clubhouse and swimming pools. This entire unit has been remodeled therefore can be significant investment and it's perfect for students or a family looking to save. It's also an excellent option for an investment property with a current tenant in place!

Key facts

• Cozy coffee bar
• Clubhouse
• Natural countertops

Tags

• RICHLAND TRACE COMMUNITY
• MODERN KITCHEN
• NATURAL COUNTERTOPS
• COZY COFFEE BAR
• WALK-IN CLOSET
• CLUBHOUSE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $86k.

Deal economics

• At list price, monthly cash flow is $-35 ($-420/yr) — negative.
• To cash-flow at today's rent, offer at most $79k (7.2% below list).
• Meets the 1% rule at list price ($1k rent vs $86k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.8% 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 19d 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 $591 of loan paydown is wiped out by about $3k 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 182 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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 3.4% of price; HOA is 27% 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 $75,288 (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 182 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: 1.55% ✓
• Cap rate: 5.80%
• Cash-on-cash: -1.75%
• DSCR: 0.92
• GRM: 5.4

CMA / ARV

• ARV (median comp): $97,073
• List price: $85,555
• Delta: -11.86%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -25.3%
• Equity multiple: 0.18×
• Total profit: $-19,651
• Equity at exit: $12,757

10-year hold

• IRR: -59.7%
• Equity multiple: -0.41×
• Total profit: $-33,668
• Equity at exit: $7,397

Cash invested: $23,955 (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: 5.4×

Monthly cashflow live

• Estimated rent: $1,323 high
• Mortgage (P&I): −$449
• Tax from tax record: −$241 /mo · $2,893/yr
• Insurance: −$36
• HOA: −$355
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $-35

Break-even live

Break-even rent $1,368

Max offer price $79,369

Occupancy floor 98%

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: $21,389
• Closing costs: $2,567
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9831 Walnut St #209 Dallas, TX	2.0	2.0	1031	$1,600	$1.55	44d	1	0.02mi
9831 Walnut St #206 Dallas, TX	2.0	2.0	1031	$1,500	$1.45	44d	1	0.02mi
9825 Walnut St #206 Dallas, TX	2.0	2.0	1031	$1,250	$1.21	44d	1	0.04mi
9833 Walnut St Dallas, TX	2.0	2.0	894	$1,099	$1.23	2d	1	0.06mi
9835 Walnut St #202 Dallas, TX	2.0	1.0	774	$1,150	$1.49	24d	1	0.08mi
9839 Walnut St Unit 210 Dallas, TX	2.0	2.0	1055	$1,600	$1.52	44d	1	0.09mi
9837 Walnut St Unit 103 Dallas, TX	2.0	1.0	808	$1,045	$1.29	8d	1	0.09mi
9837 Walnut St Dallas, TX	2.0	1.0–2.0	919	$1,248	$1.36	8d	2	0.10mi
9815 Walnut St #212 Dallas, TX	2.0	2.0	894	$1,450	$1.62	24d	1	0.11mi
9821 Walnut St Unit K203 Dallas, TX	2.0	2.0	894	$1,200	$1.34	44d	1	0.16mi
9801 Walnut St #214 Dallas, TX	1.0	1.0	774	$1,300	$1.68	19d	1	0.17mi
12920 Audelia Rd Dallas, TX	1.0–2.0	1.0–2.0	888	$1,680	$1.89	2d	25	0.19mi
9805 Walnut St Dallas, TX	1.0–2.0	1.0–2.0	758	$1,500	$1.98	17d	2	0.24mi
9944 Walnut St Dallas, TX	1.0–2.0	1.0–2.0	775	$1,380	$1.78	2d	40	0.24mi
10000 Walnut St Dallas, TX	2.0	1.0–2.0	717	$1,426	$1.99	2d	23	0.39mi
9601 Walnut St Dallas, TX	1.0	1.0	759	$1,075	$1.42	44d	2	0.41mi
9621 Walnut St Unit 6106 Dallas, TX	1.0	1.0	876	$1,250	$1.43	44d	1	0.44mi
9696 Walnut St Dallas, TX	1.0–2.0	1.0–2.0	866	$1,325	$1.53	24d	7	0.44mi
9696 Walnut St Dallas, TX	1.0–2.0	1.0–2.0	866	$1,150	$1.33	13d	5	0.44mi
9696 Walnut St Dallas, TX	1.0–2.0	1.0–2.0	866	$1,150	$1.33	3d	5	0.44mi
9855 Shadow Way Dallas, TX	2.0	1.0–2.0	760	$1,395	$1.83	3d	20	0.45mi
4718 Bethany Dr Garland, TX	3.0	2.0	1236	$2,100	$1.70	11d	1	0.63mi
4614 Hanover Dr Garland, TX	3.0	1.0	1062	$1,699	$1.60	14d	1	0.67mi
4614 Hanover Dr Garland, TX	3.0	1.0	1062	$1,699	$1.60	24d	1	0.67mi
540 Buckingham Rd Richardson, TX	1.0–3.0	1.0–2.0	964	$1,675	$1.74	2d	34	0.74mi
4509 Huntington Dr Garland, TX	3.0	2.0	1281	$2,300	$1.80	44d	1	0.76mi
12111 Audelia Rd Dallas, TX	1.0–2.0	1.0–2.0	862	$1,300	$1.51	2d	42	0.79mi
12027 Leisure Way Unit 12029 Dallas, TX	3.0	2.0	1492	$1,850	$1.24	24d	1	0.82mi
530 Buckingham Rd Richardson, TX	1.0–3.0	1.0–2.0	995	$1,872	$1.88	2d	24	0.87mi
12121 Audelia Rd Dallas, TX	1.0–2.0	1.0–2.0	862	$1,450	$1.68	2d	41	0.88mi
11991 Audelia Rd Dallas, TX	1.0–2.0	1.0–2.0	827	$1,315	$1.59	2d	36	0.88mi
12303 Plano Rd Dallas, TX	2.0–4.0	1.0–2.0	1070	$1,391	$1.30	44d	1	0.88mi
4417 Princeton Dr Garland, TX	3.0	2.0	1418	$2,000	$1.41	44d	1	0.90mi
11825 Garden Terrace Dr Dallas, TX	3.0	2.0	1239	$1,816	$1.47	44d	1	0.96mi
11821 Garden Terrace Dr Dallas, TX	3.0	2.0	1279	$1,875	$1.47	24d	1	0.97mi
11815 Garden Terrace Dr Dallas, TX	3.0	2.0	1279	$1,849	$1.45	8d	1	0.99mi
535 Buckingham Rd Richardson, TX	1.0–2.0	1.0–2.0	828	$1,722	$2.08	3d	18	0.99mi
11813 Leisure Dr Dallas, TX	2.0	2.0	1156	$1,850	$1.60	44d	1	1.00mi
430 Buckingham Rd Richardson, TX	1.0–2.0	1.0–2.0	917	$1,639	$1.79	2d	14	1.01mi
11805 Leisure Dr Dallas, TX	2.0	2.0	1156	$1,850	$1.60	44d	1	1.01mi

HOA detail condo

• Monthly dues: $355 · $4,260/yr
• Likely covers: electricpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   days on market $85,555 Active 182 DOM
2. 2026-06-17
   days on market $85,555 Active 181 DOM
3. 2026-06-16
   days on market $85,555 Active 180 DOM
4. 2026-06-15
   days on market $85,555 Active 179 DOM
5. 2026-06-13
   days on market $85,555 Active 177 DOM
6. 2026-06-09
   days on market $85,555 Active 173 DOM
7. 2026-06-08
   days on market $85,555 Active 172 DOM
8. 2026-06-07
   days on market $85,555 Active 171 DOM
9. 2026-06-04
   days on market $85,555 Active 168 DOM
10. 2026-06-03
    days on market $85,555 Active 167 DOM
11. 2026-06-02
    days on market $85,555 Active 166 DOM
12. 2026-06-01
    days on market $85,555 Active 165 DOM
13. 2026-05-31
    days on market $85,555 Active 164 DOM
14. 2025-12-18
    listed $85,555 Active 970-char remark

    Show marketing remark (970 chars)

    One-of-a-kind condo located in the Richland Trace community, just minutes from shopping centers and major Dallas highways, as well as Richland Community College. This beautifully remodeled 2-bedroom, 2-bathroom condo boasts stunning brand-new laminate flooring and fresh paint throughout. The modern kitchen features natural countertops and a cozy coffee bar and comes equipped with all the necessary appliances, conveniently adjacent to the living room. The oversized master bedroom includes a walk-in closet and a full bathroom. The monthly HOA fee covers the condo utilities, excluding electricity, which paid by the tenant or owner. The building is centrally located within the community, which also offers a clubhouse and swimming pools. This entire unit has been remodeled therefore can be significant investment and it's perfect for students or a family looking to save. It's also an excellent option for an investment property with a current tenant in place!

15. 2025-10-31
    historical
16. 2025-08-20
    price $100,000
17. 2025-06-27
    price $120,000
18. 2024-12-07
    historical $1,500
19. 2024-11-16
    listed $1,500
20. 2024-11-15
    listed $140,000 Active
21. 2002-04-22
    soldstatus
22. 1990-04-10
    soldstatus

ⓘ 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: $2,893 · $241/mo
• Projected year-2 tax: $2,893 · $241/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: $15,879
• − Mortgage interest: −$4,792
• − Property taxes: −$2,893
• − Insurance: −$428
• − Repairs & maintenance: −$1,270
• − Management: −$1,270
• − HOA: −$4,260
• − Depreciation: −$2,489
• Taxable loss: −$1,524
• Est. tax savings @ 24.0%: +$366
• After-tax cash flow: $-55/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

-38.9% since first listed

9 events — show timeline

• 2025-12-18 Listed $85,555 NTREIS
• 2025-10-31 Listing Removed — NTREIS
• 2025-08-20 Price Changed $100,000 NTREIS
• 2025-06-27 Price Changed $120,000 NTREIS
• 2024-12-07 Rental Removed $1,500 NTREIS
• 2024-11-16 Listed for Rent $1,500 NTREIS
• 2024-11-15 Listed $140,000 NTREIS
• 2002-04-22 Sold (Public Records) — Public Records
• 1990-04-10 Sold (Public Records) — Public Records

Property tax history

+7.6%/yr

Latest (2025): $2,893 · +28.6% YoY. Source: county tax records.