9696 Walnut St #1201 · Dallas, TX 75243

$81,000

2 bd · 1.5 ba · 903 sqft · Condo public records · 13 Days on market

Built 1981 $384/mo HOA · 31% of rent

---

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 +11.0/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• 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

Welcome to 9696 Walnut St #1201 in Dallas, TX! This 1-bed, 1.5-bath condo spans 903 sqft across two levels, with the bedroom conveniently upstairs. Inside, a spacious living area with a cozy fireplace opens to a patio, ideal for outdoor relaxation. The bedroom offers ample storage. Note: Complex is non-warrantable; cash sale preferred. Tenant lease in place until Jan 2025. Some photos are virtually staged due to tenant's privacy. Schedule a viewing to envision the potential of this charming unit! Also #305 (Tenant Occupied) is available for sale to purchase together or separately.

Key facts

• $384 HOA
• Garage
• Built 1981

Property features AI

Finance

• HOA & community: Mandatory association managed by Butler Property Company; Monthly association fee covers grounds and structure maintenance, water and sewer

Exterior

• Parking: Assigned covered parking; One carport space
• Utilities: City water; City sewer; Asphalt access
• Home design: Condominium (residential); Two levels; Slab foundation
• Construction: Built in 1981; Siding and stucco exterior; Composition roof
• Exterior features: Patio; Wood and wrought iron fencing; Community mailbox

Interior

• Kitchen: Dishwasher; Disposal; Electric cooktop; Electric oven; Pantry
• Bedrooms: Primary bedroom upstairs with walk-in closet; One additional bedroom on the main level
• Flooring: Carpet; Ceramic tile; Laminate
• Bathrooms: One full bathroom upstairs; One half bathroom on the main level
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Loft; Window coverings; Fireplace in living room (wood-burning)
• Laundry & utility: Washer hookup; Laundry in kitchen and utility room

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $81k.

Deal economics

• At list price, monthly cash flow is $-34 ($-408/yr) — negative.
• To cash-flow at today's rent, offer at most $75k (7.4% below list).
• Meets the 1% rule at list price ($1k rent vs $81k).
• Recommended offer: $75k (7.4% below list) — sets the bar for cash-flow.
• 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: 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 at typical pace (median 16d 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 $560 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 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 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: HOA is 31% 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 $74,990 (7.4% 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. 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: 1.51% ✓
• Cap rate: 5.79%
• Cash-on-cash: -1.80%
• DSCR: 0.92
• GRM: 5.5

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: -25.3%
• Equity multiple: 0.18×
• Total profit: $-18,589
• Equity at exit: $12,077

10-year hold

• IRR: -57.9%
• Equity multiple: -0.40×
• Total profit: $-31,662
• Equity at exit: $7,003

Cash invested: $22,680 (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: 5.5×

Monthly cashflow live

• Estimated rent: $1,224 high
• Mortgage (P&I): −$425
• Tax from tax record: −$158 /mo · $1,900/yr
• Insurance: −$34
• HOA: −$384
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $-34

Break-even live

Break-even rent $1,267

Max offer price $74,990

Occupancy floor 98%

Sensitivity live

Price	-10% $12	-5% $-11	+0% $-34	+5% $-57	+10% $-80
Rent	-10% $-131	-5% $-82	+0% $-34	+5% $14	+10% $63
Rate	-1.0pp $7	-0.5pp $-13	base $-34	+0.5pp $-55	+1.0pp $-76

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: $20,250
• Closing costs: $2,430
• 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	$1,300	$1.50	1d	4	0.06mi
9696 Walnut St Dallas, TX	1.0–2.0	1.0–2.0	866	$1,325	$1.53	26d	7	0.06mi
9696 Walnut St Dallas, TX	1.0–2.0	1.0–2.0	866	$1,150	$1.33	15d	5	0.06mi
9621 Walnut St Unit 6106 Dallas, TX	1.0	1.0	876	$1,250	$1.43	45d	1	0.13mi
9601 Walnut St Dallas, TX	1.0	1.0	759	$1,075	$1.42	45d	2	0.15mi
12920 Audelia Rd Dallas, TX	1.0–2.0	1.0–2.0	888	$1,705	$1.92	0d	23	0.29mi
9801 Walnut St #214 Dallas, TX	1.0	1.0	774	$1,300	$1.68	20d	1	0.34mi
9944 Walnut St Dallas, TX	1.0–2.0	1.0–2.0	775	$1,350	$1.74	0d	39	0.38mi
9825 Walnut St #206 Dallas, TX	2.0	2.0	1031	$1,250	$1.21	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 Unit M103 Dallas, TX	1.0	1.0	551	$1,000	$1.81	3d	1	0.44mi
9831 Walnut St #206 Dallas, TX	2.0	2.0	1031	$1,500	$1.45	45d	1	0.47mi
9831 Walnut St #209 Dallas, TX	2.0	2.0	1031	$1,600	$1.55	45d	1	0.47mi
9833 Walnut St Dallas, TX	2.0	2.0	894	$1,099	$1.23	4d	1	0.50mi
9815 Walnut St #102 Dallas, TX	1.0	1.0	662	$1,100	$1.66	3d	1	0.52mi
9815 Walnut St #212 Dallas, TX	2.0	2.0	894	$1,450	$1.62	26d	1	0.52mi
9835 Walnut St #102 Dallas, TX	1.0	1.0	662	$895	$1.35	45d	1	0.52mi
9835 Walnut St #202 Dallas, TX	2.0	1.0	774	$1,150	$1.49	26d	1	0.52mi
9855 Shadow Way Dallas, TX	2.0	1.0–2.0	760	$1,395	$1.83	5d	20	0.54mi
9839 Walnut St Unit 210 Dallas, TX	2.0	2.0	1055	$1,600	$1.52	45d	1	0.54mi
9837 Walnut St Dallas, TX	2.0	1.0–2.0	919	$1,248	$1.36	9d	2	0.55mi
9837 Walnut St Unit 103 Dallas, TX	2.0	1.0	808	$1,020	$1.26	1d	1	0.55mi
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
9821 Walnut St Unit K203 Dallas, TX	2.0	2.0	894	$1,200	$1.34	45d	1	0.56mi
10000 Walnut St Dallas, TX	2.0	1.0–2.5	866	$1,601	$1.85	1d	24	0.65mi
12121 Audelia Rd Dallas, TX	1.0–2.0	1.0–2.0	862	$1,450	$1.68	0d	41	0.66mi
12111 Audelia Rd Dallas, TX	1.0–2.0	1.0–2.0	862	$1,300	$1.51	0d	42	0.67mi
12484 Abrams Rd #1724 Dallas, TX	2.0	2.0	1006	$1,500	$1.49	45d	1	0.67mi
12482 Abrams Rd #1327 Dallas, TX	2.0	2.0	959	$1,655	$1.73	5d	1	0.70mi
540 Buckingham Rd Richardson, TX	1.0–3.0	1.0–2.0	964	$1,650	$1.71	1d	31	0.72mi
11991 Audelia Rd Dallas, TX	1.0–2.0	1.0–2.0	827	$1,315	$1.59	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 #124 Dallas, TX	1.0	1.0	775	$1,150	$1.48	45d	1	0.74mi
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	$1.46	9d	3	0.74mi
12480 Abrams Rd Dallas, TX	1.0	1.0	756	$1,100	$1.46	20d	2	0.74mi
12480 Abrams Rd Dallas, TX	1.0	1.0	756	$1,100	$1.45	4d	3	0.74mi
530 Buckingham Rd Richardson, TX	1.0–3.0	1.0–2.0	995	$1,847	$1.86	0d	22	0.76mi
1111 Abrams Rd Richardson, TX	1.0–3.0	1.0–2.0	1046	$1,322	$1.26	1d	14	0.77mi

HOA detail condo

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

Listing history 8 events

1. 2026-06-21
   days on market $81,000 Active 13 DOM
2. 2026-06-18
   days on market $81,000 Active 10 DOM
3. 2026-06-17
   days on market $81,000 Active 9 DOM
4. 2026-06-16
   days on market $81,000 Active 8 DOM
5. 2026-06-15
   days on market $81,000 Active 7 DOM
6. 2026-06-13
   days on market $81,000 Active 5 DOM
7. 2026-06-08
   remarks 652-char remark
8. 2026-06-08
   listed $81,000 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: $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: $14,686
• − Mortgage interest: −$4,537
• − Property taxes: −$1,900
• − Insurance: −$405
• − Repairs & maintenance: −$1,175
• − Management: −$1,175
• − HOA: −$4,608
• − Depreciation: −$2,356
• Taxable loss: −$1,470
• Est. tax savings @ 24.0%: +$353
• 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

-94.6% since first listed

12 events — show timeline

• 2026-06-08 Listed $81,000 NTREIS
• 2024-08-05 Sold (Public Records) — Public Records
• 2024-08-02 Sold (MLS) — NTREIS
• 2024-07-30 Pending — NTREIS
• 2024-07-23 Contingent — NTREIS
• 2024-06-21 Price Changed $84,800 NTREIS
• 2024-04-23 Price Changed $89,000 NTREIS
• 2024-03-26 Price Changed $95,000 NTREIS
• 2024-02-21 Listed $99,000 NTREIS
• 2024-01-19 Rental Removed $900 NTREIS
• 2024-01-09 Listed for Rent $900 NTREIS
• 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.