9831 Walnut St Unit P208 · Dallas, TX 75243

$75,000

2 bd · 1.0 ba · 931 sqft · Condo · 99 Days on market

Built 1983 Good condition $81/sqft · 22% below area Est $96k · 22% under $291/mo HOA · 24% of rent ↓ 36% since listing

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Why this score? — see what drove the B- 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 +24.1/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +7.8/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Schools +3.7/10.0
• Rent growth +1.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming condo, a true gem nestled in the heart of comfort and convenience. As you step inside, you'll be greeted by the wood flooring that spans throughout the main living areas, creating an inviting and warm ambiance. This 1.5 story includes not one, but two private balconies, providing a perfect blend of indoor-outdoor living. The thoughtfully designed layout places both bedrooms conveniently downstairs, ensuring optimal ease. The large living space on the main level offers versatile options for relaxation and entertainment. Ascend the stairs to discover the upper level that can effortlessly transform into your office, game, media room. You'll appreciate the practicality of this modern kitchen comes fully equipped with a refrigerator, while the convenience of a washer and dryer already included ensures that everyday tasks are a breeze. Experience the joys of comfort and convenience in this well maintained condo, Don't miss out on making this unique property your own!

Key facts

• Washer and dryer
• Modern kitchen
• $291 HOA

Tags

• TWO PRIVATE BALCONIES
• MODERN KITCHEN
• WASHER AND DRYER

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $75k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $148 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $68k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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 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 $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 99 days — a 9% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 3y ago; this cycle's ask has dropped $35k (32%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 24% 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 $68,250 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.62% ✓
• Cap rate: 8.67%
• Cash-on-cash: 8.48%
• DSCR: 1.38
• GRM: 5.2

CMA / ARV

• ARV (median comp): $95,558
• List price: $75,000
• Delta: -21.51%
• 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: -8.2%
• Equity multiple: 0.71×
• Total profit: $-6,056
• Equity at exit: $11,183

10-year hold

• IRR: -5.5%
• Equity multiple: 0.71×
• Total profit: $-6,031
• 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: 5.2×

Monthly cashflow live

• Estimated rent: $1,212 high
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$291
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $148

Break-even live

Break-even rent $1,024

Max offer price $75,000

Occupancy floor 83%

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
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 Unit M103 Dallas, TX	1.0	1.0	551	$1,000	$1.81	1d	1	0.04mi
9825 Walnut St #206 Dallas, TX	2.0	2.0	1031	$1,250	$1.21	44d	1	0.04mi
9825 Walnut St Dallas, TX	1.0	1.0	551	$1,000	$1.81	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 #102 Dallas, TX	1.0	1.0	662	$895	$1.35	44d	1	0.08mi
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
9815 Walnut St #102 Dallas, TX	1.0	1.0	662	$1,100	$1.66	2d	1	0.11mi
9813 Walnut St #104 Dallas, TX	1.0	1.0	551	$750	$1.36	44d	1	0.13mi
9813 Walnut St Unit 303 Dallas, TX	1.0	1.0	535	$695	$1.30	24d	1	0.13mi
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	3d	5	0.44mi
9696 Walnut St Dallas, TX	1.0–2.0	1.0–2.0	866	$1,150	$1.33	13d	5	0.44mi
9855 Shadow Way Dallas, TX	2.0	1.0–2.0	760	$1,395	$1.83	3d	20	0.45mi
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
12111 Audelia Rd Dallas, TX	1.0–2.0	1.0–2.0	862	$1,300	$1.51	2d	42	0.79mi
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	1d	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
535 Buckingham Rd Richardson, TX	1.0–2.0	1.0–2.0	828	$1,722	$2.08	3d	18	0.99mi
430 Buckingham Rd Richardson, TX	1.0–2.0	1.0–2.0	917	$1,639	$1.79	2d	14	1.01mi
9737 Forest Ln Dallas, TX	1.0–2.0	1.0–2.0	650	$1,100	$1.69	17d	30	1.02mi
9669 Forest Ln Dallas, TX	1.0–2.0	1.0–2.0	827	$1,380	$1.67	3d	36	1.07mi
9920 Forest Ln Dallas, TX	1.0	1.0	777	$1,145	$1.47	15d	1	1.07mi

HOA detail condo

• Monthly dues: $291 · $3,492/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 35 events

1. 2026-06-18
   days on market $75,000 Active 99 DOM
2. 2026-06-17
   days on market $75,000 Active 98 DOM
3. 2026-06-16
   days on market $75,000 Active 97 DOM
4. 2026-06-15
   pricedays on market $75,000 Active 96 DOM
5. 2026-06-13
   days on market $90,000 Active 94 DOM
6. 2026-06-09
   days on market $90,000 Active 90 DOM
7. 2026-06-08
   days on market $90,000 Active 89 DOM
8. 2026-06-07
   days on market $90,000 Active 88 DOM
9. 2026-06-04
   days on market $90,000 Active 85 DOM
10. 2026-06-03
    days on market $90,000 Active 84 DOM
11. 2026-06-02
    days on market $90,000 Active 83 DOM
12. 2026-06-01
    days on market $90,000 Active 82 DOM
13. 2026-05-31
    days on market $90,000 Active 81 DOM
14. 2026-03-12
    price $90,000 1000-char remark

    Show marketing remark (1000 chars)

    Welcome to this charming condo, a true gem nestled in the heart of comfort and convenience. As you step inside, you'll be greeted by the wood flooring that spans throughout the main living areas, creating an inviting and warm ambiance. This 1.5 story includes not one, but two private balconies, providing a perfect blend of indoor-outdoor living. The thoughtfully designed layout places both bedrooms conveniently downstairs, ensuring optimal ease. The large living space on the main level offers versatile options for relaxation and entertainment. Ascend the stairs to discover the upper level that can effortlessly transform into your office, game, media room. You'll appreciate the practicality of this modern kitchen comes fully equipped with a refrigerator, while the convenience of a washer and dryer already included ensures that everyday tasks are a breeze. Experience the joys of comfort and convenience in this well maintained condo, Don't miss out on making this unique property your own!

15. 2026-03-11
    listed $110,000 Active 1000-char remark

    Show marketing remark (1000 chars)

    Welcome to this charming condo, a true gem nestled in the heart of comfort and convenience. As you step inside, you'll be greeted by the wood flooring that spans throughout the main living areas, creating an inviting and warm ambiance. This 1.5 story includes not one, but two private balconies, providing a perfect blend of indoor-outdoor living. The thoughtfully designed layout places both bedrooms conveniently downstairs, ensuring optimal ease. The large living space on the main level offers versatile options for relaxation and entertainment. Ascend the stairs to discover the upper level that can effortlessly transform into your office, game, media room. You'll appreciate the practicality of this modern kitchen comes fully equipped with a refrigerator, while the convenience of a washer and dryer already included ensures that everyday tasks are a breeze. Experience the joys of comfort and convenience in this well maintained condo, Don't miss out on making this unique property your own!

16. 2025-12-31
    historical
17. 2025-11-19
    price $90,000
18. 2025-09-02
    status Active
19. 2025-08-31
    historical
20. 2025-08-25
    price $100,000
21. 2025-07-10
    price $110,000
22. 2025-06-16
    price $115,000
23. 2024-07-18
    status Active
24. 2024-07-11
    status Pending
25. 2024-07-09
    historical Active Option Contract
26. 2024-07-05
    status Active
27. 2024-07-03
    historical Active Option Contract
28. 2024-05-26
    listed $120,000 Active
29. 2024-04-23
    historical
30. 2024-01-12
    status Active
31. 2024-01-09
    historical Active Option Contract
32. 2023-11-02
    listed $120,000 Active
33. 2023-11-01
    historical
34. 2023-10-22
    price $120,000
35. 2023-08-16
    listed $140,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $14,548
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$1,164
• − Management: −$1,164
• − HOA: −$3,492
• − Depreciation: −$2,182
• Taxable income: $845
• Est. tax owed @ 24.0%: −$203
• After-tax cash flow: $1,578/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This 1.5-story condo is in good condition with neutral finishes and a fenced yard. It offers a good balance of updates and maintenance needs to maximize its value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Replace carpet in bedrooms — Improves comfort and rental appeal
• Both Replace countertops in kitchen — Modernizes kitchen and enhances resale value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Replace carpet in bedrooms — Improves comfort and rental appeal ↑
• Both Replace countertops in kitchen — Modernizes kitchen and enhances resale value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-35.7% since first listed

22 events — show timeline

• 2026-03-12 Price Changed $90,000 NTREIS
• 2026-03-11 Listed $110,000 NTREIS
• 2025-12-31 Listing Removed — NTREIS
• 2025-11-19 Price Changed $90,000 NTREIS
• 2025-09-02 Relisted — NTREIS
• 2025-08-31 Listing Removed — NTREIS
• 2025-08-25 Price Changed $100,000 NTREIS
• 2025-07-10 Price Changed $110,000 NTREIS
• 2025-06-16 Price Changed $115,000 NTREIS
• 2024-07-18 Relisted — NTREIS
• 2024-07-11 Pending — NTREIS
• 2024-07-09 Contingent — NTREIS
• 2024-07-05 Relisted — NTREIS
• 2024-07-03 Contingent — NTREIS
• 2024-05-26 Listed $120,000 NTREIS
• 2024-04-23 Listing Removed — NTREIS
• 2024-01-12 Relisted — NTREIS
• 2024-01-09 Contingent — NTREIS
• 2023-11-02 Listed $120,000 NTREIS
• 2023-11-01 Listing Removed — NTREIS
• 2023-10-22 Price Changed $120,000 NTREIS
• 2023-08-16 Listed $140,000 NTREIS