9696 Walnut St #2013 · Dallas, TX 75243

$60,000

1 bd · 1.0 ba · 730 sqft · Condo public records · 48 Days on market

Built 1981 $82/sqft · 18% below area Est $74k · 18% under $310/mo HOA · 35% 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).

• ARV discount +15.0/15.0
• 1% rule +9.6/10.0
• Cash flow +6.5/30.0
• Livability +4.0/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Rent growth +1.2/5.0
• DSCR +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks

This charming second-floor unit features a spacious living area with a fireplace, spacious bedroom, laundry connections, and lots of closet space. The Trinity Meadows Condominiums is conveniently located near restaurants, shopping, and several major freeways.

Key facts

• Laundry connections
• Living area
• Fireplace

Tags

• LIVING AREA
• FIREPLACE
• LAUNDRY CONNECTIONS
• CLOSET SPACE
• TRINITY MEADOWS CONDOMINIUMS

Property features AI

Finance

• Other: Property treated as residential condominium; Possession negotiable at closing/funding
• Financial info: Listing terms accept cash and conventional financing
• HOA & community: Mandatory association; Association fees are $310 monthly; Association covers full use of facilities, grounds maintenance, and water; HOA managed by Butler Property Company

Exterior

• Parking: Open parking and parking lot (unassigned); No carport or covered spaces; No garage
• Security: Smoke detector(s)
• Utilities: City water; City sewer; Municipal utility district: No
• Home design: Residential condominium; Two stories total; Unit located on floor 2; Built in 1981; No accessibility features listed; Restrictions: No smoking, no sublease, no waterbeds; Complex: Trinity Meadows Condos
• Construction: Siding construction
• Exterior features: Balcony; No fencing

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: Primary bedroom (located on level 2)
• Flooring: Carpet; Luxury vinyl plank
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air (electric); Ceiling fan(s)
• Interior features: Cable TV available; High-speed internet available; One living area; One dining area; Room count: 2
• Laundry & utility: Stacked washer/dryer area

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $60k.

Deal economics

• At list price, monthly cash flow is $-100 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $42k (29.5% below list).
• Meets the 1% rule at list price ($875 rent vs $60k).
• Recommended offer: $42k (29.5% below list) — sets the bar for cash-flow.
• Cap rate 4.3% 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: Aikin El (math 25% / reading 21%, grade F, #3,277 of 4,322 statewide, top 77%, 474 students, 89% FRL); Forest Meadow J H (math 35% / reading 39%, grade F, #756 of 1,662 statewide, top 47%, 750 students, 72% FRL); Lake Highlands H S (math 38% / reading 45%, grade F, #767 of 1,632 statewide, top 47%, 2,896 students, 57% FRL) — zoned schools average 73% FRL vs 54% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents falling (-5.3%/yr); 278 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 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

• It's been on market 48 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 2.8% of price; HOA is 35% 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 $42,274 (29.5% 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 48 days. Have you received any prior offers? Is the seller open to a 30% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.46% ✓
• Cap rate: 4.29%
• Cash-on-cash: -7.17%
• DSCR: 0.68
• GRM: 5.7

CMA / ARV

• ARV (median comp): $73,500
• List price: $60,000
• Delta: -18.37%
• 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: -35.8%
• Equity multiple: -0.10×
• Total profit: $-18,434
• Equity at exit: $8,946

10-year hold

• IRR: —
• Equity multiple: -0.98×
• Total profit: $-33,200
• 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: 278
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $875 high
• Mortgage (P&I): −$315
• Tax from tax record: −$142 /mo · $1,707/yr
• Insurance: −$25
• HOA: −$310
• Vacancy / Maint / Mgmt: −$184
• Net cashflow: $-100

Break-even live

Break-even rent $1,002

Max offer price $42,274

Occupancy floor —

Sensitivity live

Price	-10% $-66	-5% $-83	+0% $-100	+5% $-117	+10% $-134
Rent	-10% $-169	-5% $-135	+0% $-100	+5% $-66	+10% $-31
Rate	-1.0pp $-70	-0.5pp $-85	base $-100	+0.5pp $-116	+1.0pp $-132

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
9696 Walnut St Dallas, TX	1.0–2.0	1.0–2.0	866	$799	$0.92	1d	4	0.06mi
9696 Walnut St Dallas, TX	1.0–2.0	1.0–2.0	866	$725	$0.84	26d	7	0.06mi
9696 Walnut St Dallas, TX	1.0–2.0	1.0–2.0	866	$750	$0.87	15d	5	0.06mi
9805 Walnut St Dallas, TX	1.0–2.0	1.0	486	$850	$1.75	1d	2	0.24mi
12920 Audelia Rd Dallas, TX	1.0–2.0	1.0–2.0	888	$974	$1.10	0d	23	0.29mi
9801 Walnut St Unit A305 Dallas, TX	1.0	1.0	486	$795	$1.64	9d	1	0.34mi
9944 Walnut St Dallas, TX	1.0–2.0	1.0–2.0	775	$885	$1.14	0d	39	0.38mi
9823 Walnut St #304 Dallas, TX	1.0	1.0	486	$1,100	$2.26	45d	1	0.44mi
9825 Walnut St Dallas, TX	1.0	1.0	551	$1,000	$1.81	45d	1	0.44mi
9825 Walnut St #306 Dallas, TX	—	1.0	486	$999	$2.06	18d	1	0.44mi
9825 Walnut St Unit 308 Dallas, TX	1.0	1.0	423	$695	$1.64	22d	1	0.44mi
9825 Walnut St Unit M103 Dallas, TX	1.0	1.0	551	$1,000	$1.81	3d	1	0.44mi
9815 Walnut St #102 Dallas, TX	1.0	1.0	662	$1,100	$1.66	3d	1	0.52mi
9835 Walnut St #102 Dallas, TX	1.0	1.0	662	$895	$1.35	45d	1	0.52mi
9855 Shadow Way Dallas, TX	2.0	1.0–2.0	760	$1,104	$1.45	5d	20	0.54mi
9839 Walnut St #306 Dallas, TX	1.0	1.0	486	$900	$1.85	3d	1	0.54mi
9839 Walnut St Dallas, TX	1.0	1.0	486	$900	$1.85	45d	1	0.54mi
9839 Walnut St #305 Dallas, TX	1.0	1.0	486	$750	$1.54	45d	1	0.54mi
9813 Walnut St #104 Dallas, TX	1.0	1.0	551	$750	$1.36	45d	1	0.55mi
9813 Walnut St Unit 303 Dallas, TX	1.0	1.0	535	$695	$1.30	26d	1	0.55mi
10000 Walnut St Dallas, TX	2.0	1.0–2.5	866	$1,206	$1.39	0d	24	0.65mi
12121 Audelia Rd Dallas, TX	1.0–2.0	1.0–2.0	862	$700	$0.81	0d	41	0.66mi
12111 Audelia Rd Dallas, TX	1.0–2.0	1.0–2.0	862	$675	$0.78	0d	42	0.67mi
540 Buckingham Rd Richardson, TX	1.0–3.0	1.0–2.0	964	$1,050	$1.09	1d	31	0.72mi
11991 Audelia Rd Dallas, TX	1.0–2.0	1.0–2.0	827	$750	$0.91	0d	36	0.72mi
12480 Abrams Rd Ste 921 Dallas, TX	1.0	1.0	700	$1,400	$2.00	26d	1	0.73mi
12480 Abrams Rd #705 Dallas, TX	1.0	1.0	729	$1,150	$1.58	12d	1	0.74mi
12480 Abrams Rd Dallas, TX	1.0	1.0	756	$1,100	$1.45	3d	3	0.74mi
12480 Abrams Rd Dallas, TX	1.0	1.0	756	$1,100	$1.46	9d	3	0.74mi
12480 Abrams Rd Dallas, TX	1.0	1.0	756	$1,100	$1.46	20d	2	0.74mi
530 Buckingham Rd Richardson, TX	1.0–3.0	1.0–2.0	995	$1,191	$1.20	0d	22	0.76mi
1111 Abrams Rd Richardson, TX	1.0–3.0	1.0–2.0	1046	$1,015	$0.97	1d	14	0.77mi
430 Buckingham Rd Richardson, TX	1.0–2.0	1.0–2.0	917	$1,149	$1.25	3d	14	0.79mi
9637 Forest Ln Dallas, TX	1.0–3.0	1.0–2.0	1006	$961	$0.95	1d	12	0.86mi
9737 Forest Ln Dallas, TX	1.0–2.0	1.0–2.0	650	$700	$1.08	18d	30	0.86mi
9669 Forest Ln Dallas, TX	1.0–2.0	1.0–2.0	827	$650	$0.79	5d	36	0.88mi
535 Buckingham Rd Richardson, TX	1.0–2.0	1.0–2.0	828	$908	$1.10	1d	18	0.89mi
951 Abrams Rd Richardson, TX	1.0–3.0	1.0–2.0	1045	$1,299	$1.24	22d	1	0.93mi
411 Buckingham Rd Richardson, TX	1.0–3.0	1.0–2.0	1002	$990	$0.99	1d	29	0.94mi
9601 Forest Ln #516 Dallas, TX	1.0	1.0	675	$800	$1.19	16d	1	0.96mi

HOA detail condo

• Monthly dues: $310 · $3,720/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-21
   days on market $60,000 Active 48 DOM
2. 2026-06-18
   days on market $60,000 Active 45 DOM
3. 2026-06-17
   days on market $60,000 Active 44 DOM
4. 2026-06-16
   days on market $60,000 Active 43 DOM
5. 2026-06-15
   days on market $60,000 Active 42 DOM
6. 2026-06-13
   days on market $60,000 Active 40 DOM
7. 2026-06-09
   days on market $60,000 Active 36 DOM
8. 2026-06-08
   days on market $60,000 Active 35 DOM
9. 2026-06-07
   days on market $60,000 Active 34 DOM
10. 2026-06-04
    days on market $60,000 Active 31 DOM
11. 2026-06-03
    days on market $60,000 Active 30 DOM
12. 2026-06-02
    days on market $60,000 Active 29 DOM
13. 2026-06-01
    days on market $60,000 Active 28 DOM
14. 2026-05-31
    days on market $60,000 Active 27 DOM
15. 2026-05-04
    listed $60,000 Active 259-char remark
16. 2026-04-23
    price $710
17. 2026-01-22
    listed $810
18. 2025-01-31
    historical $810
19. 2025-01-03
    listed $810
20. 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: $1,707 · $142/mo
• Projected year-2 tax: $1,707 · $142/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: $10,504
• − Mortgage interest: −$3,361
• − Property taxes: −$1,707
• − Insurance: −$300
• − Repairs & maintenance: −$840
• − Management: −$840
• − HOA: −$3,720
• − Depreciation: −$1,745
• Taxable loss: −$2,010
• Est. tax savings @ 24.0%: +$482
• After-tax cash flow: $-722/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

-96.0% since first listed

6 events — show timeline

• 2026-05-04 Listed $60,000 NTREIS
• 2026-04-23 Price Changed $710 NTREIS
• 2026-01-22 Listed for Rent $810 NTREIS
• 2025-01-31 Rental Removed $810 NTREIS
• 2025-01-03 Listed for Rent $810 NTREIS
• 2006-11-07 Sold (Public Records) $1,500,000 Public Records

Property tax history

+5.7%/yr

Latest (2025): $1,707 · +5.0% YoY. Source: county tax records.