9839 Walnut St · Dallas, TX 75243

$66,500

2 bd · 2.0 ba · 1,031 sqft · Condo public records · 40 Days on market

Built 1984 ↓ 42% since listing

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Why this score? — see what drove the C- 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 +16.2/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Rent growth +1.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Asset Division-Quick Sale: Two Apartments at Richland Condominium. 2 beds and 2 baths. Off-market value $81,900. Currently generating $1,400 in rental income. Sold & quot; as-is& quot; Serious buyer only.

Key facts

• Listed 39 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $66k.

Deal economics

• At list price, monthly cash flow is $35 ($423/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $66k).
• Recommended offer: $65k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.9% 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.

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); 279 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $460 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 40 days — a 3% lower offer ($65k) is reasonable based on typical stale-listing flexibility.
• 4 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 4.3% of price; HOA is 30% 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 $64,505 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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: 1.98% ✓
• Cap rate: 6.93%
• Cash-on-cash: 2.27%
• DSCR: 1.10
• GRM: 4.2

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: -19.6%
• Equity multiple: 0.35×
• Total profit: $-12,042
• Equity at exit: $9,915

10-year hold

• IRR: -45.9%
• Equity multiple: -0.13×
• Total profit: $-21,094
• Equity at exit: $5,750

Cash invested: $18,620 (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: 279
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,320 high
• Mortgage (P&I): −$349
• Tax from tax record: −$241 /mo · $2,893/yr
• Insurance: −$28
• HOA est. from 6 same-building comps: −$390
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $35

Break-even live

Break-even rent $1,275

Max offer price $66,500

Occupancy floor 92%

Sensitivity live

Price	-10% $73	-5% $54	+0% $35	+5% $16	+10% $-2
Rent	-10% $-69	-5% $-17	+0% $35	+5% $87	+10% $140
Rate	-1.0pp $69	-0.5pp $52	base $35	+0.5pp $18	+1.0pp $1

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: $16,625
• Closing costs: $1,995
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9835 Walnut St #202 Dallas, TX	2.0	1.0	774	$1,150	$1.49	25d	1	0.02mi
9815 Walnut St #212 Dallas, TX	2.0	2.0	894	$1,450	$1.62	25d	1	0.03mi
9837 Walnut St Dallas, TX	2.0	1.0–2.0	919	$1,248	$1.36	9d	2	0.03mi
9833 Walnut St Dallas, TX	2.0	2.0	894	$1,099	$1.23	3d	1	0.03mi
9839 Walnut St Unit 210 Dallas, TX	2.0	2.0	1055	$1,600	$1.52	45d	1	0.03mi
9837 Walnut St Unit 103 Dallas, TX	2.0	1.0	808	$1,020	$1.26	0d	1	0.04mi
9821 Walnut St Unit K203 Dallas, TX	2.0	2.0	894	$1,200	$1.34	45d	1	0.07mi
9831 Walnut St #206 Dallas, TX	2.0	2.0	1031	$1,500	$1.45	45d	1	0.07mi
9831 Walnut St #209 Dallas, TX	2.0	2.0	1031	$1,600	$1.55	45d	1	0.07mi
9825 Walnut St #206 Dallas, TX	2.0	2.0	1031	$1,250	$1.21	45d	1	0.10mi
9801 Walnut St #214 Dallas, TX	1.0	1.0	774	$1,300	$1.68	20d	1	0.19mi
9944 Walnut St Dallas, TX	1.0–2.0	1.0–2.0	775	$1,380	$1.78	3d	40	0.22mi
12920 Audelia Rd Dallas, TX	1.0–2.0	1.0–2.0	888	$1,705	$1.92	0d	23	0.24mi
10000 Walnut St Dallas, TX	2.0	1.0–2.5	866	$1,601	$1.85	0d	24	0.32mi
9855 Shadow Way Dallas, TX	2.0	1.0–2.0	760	$1,395	$1.83	4d	20	0.40mi
9696 Walnut St Dallas, TX	1.0–2.0	1.0–2.0	866	$1,150	$1.33	14d	5	0.49mi
9696 Walnut St Dallas, TX	1.0–2.0	1.0–2.0	866	$1,300	$1.50	0d	4	0.49mi
9696 Walnut St Dallas, TX	1.0–2.0	1.0–2.0	866	$1,325	$1.53	25d	7	0.49mi
9601 Walnut St Dallas, TX	1.0	1.0	759	$1,075	$1.42	45d	2	0.49mi
9621 Walnut St Unit 6106 Dallas, TX	1.0	1.0	876	$1,250	$1.43	45d	1	0.51mi
4614 Hanover Dr Garland, TX	3.0	1.0	1062	$1,699	$1.60	15d	1	0.60mi
4614 Hanover Dr Garland, TX	3.0	1.0	1062	$1,699	$1.60	25d	1	0.60mi
4718 Bethany Dr Garland, TX	3.0	2.0	1236	$2,100	$1.70	12d	1	0.62mi
4509 Huntington Dr Garland, TX	3.0	2.0	1281	$2,300	$1.80	45d	1	0.72mi
12027 Leisure Way Unit 12029 Dallas, TX	3.0	2.0	1492	$1,850	$1.24	25d	1	0.74mi
12111 Audelia Rd Dallas, TX	1.0–2.0	1.0–2.0	862	$1,285	$1.49	0d	42	0.75mi
12303 Plano Rd Dallas, TX	2.0–4.0	1.0–2.0	1070	$1,391	$1.30	45d	1	0.79mi
4417 Princeton Dr Garland, TX	3.0	2.0	1418	$2,000	$1.41	45d	1	0.82mi
540 Buckingham Rd Richardson, TX	1.0–3.0	1.0–2.0	964	$1,650	$1.71	0d	31	0.83mi
11991 Audelia Rd Dallas, TX	1.0–2.0	1.0–2.0	827	$1,315	$1.59	0d	36	0.85mi
12121 Audelia Rd Dallas, TX	1.0–2.0	1.0–2.0	862	$1,450	$1.68	0d	41	0.85mi
11825 Garden Terrace Dr Dallas, TX	3.0	2.0	1239	$1,816	$1.47	45d	1	0.88mi
11821 Garden Terrace Dr Dallas, TX	3.0	2.0	1279	$1,875	$1.47	25d	1	0.89mi
11815 Garden Terrace Dr Dallas, TX	3.0	2.0	1279	$1,849	$1.45	9d	1	0.91mi
11813 Leisure Dr Dallas, TX	2.0	2.0	1156	$1,850	$1.60	45d	1	0.92mi
11805 Leisure Dr Dallas, TX	2.0	2.0	1156	$1,850	$1.60	45d	1	0.94mi
530 Buckingham Rd Richardson, TX	1.0–3.0	1.0–2.0	995	$1,847	$1.86	0d	23	0.96mi
9737 Forest Ln Dallas, TX	1.0–2.0	1.0–2.0	650	$1,100	$1.69	18d	30	0.98mi
4202 Windsor Dr Garland, TX	3.0	2.0	1283	$1,800	$1.40	45d	1	1.00mi
9920 Forest Ln Dallas, TX	1.0	1.0	777	$1,145	$1.47	16d	1	1.00mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-21
   days on market $66,500 Active 40 DOM
2. 2026-06-18
   days on market $66,500 Active 37 DOM
3. 2026-06-17
   days on market $66,500 Active 36 DOM
4. 2026-06-16
   days on market $66,500 Active 35 DOM
5. 2026-06-16
   price $66,500 Active 34 DOM
6. 2026-06-15
   days on market $64,500 Active 34 DOM
7. 2026-06-13
   days on market $64,500 Active 32 DOM
8. 2026-06-09
   days on market $64,500 Active 28 DOM
9. 2026-06-08
   days on market $64,500 Active 27 DOM
10. 2026-06-07
    days on market $64,500 Active 26 DOM
11. 2026-06-04
    days on market $64,500 Active 23 DOM
12. 2026-06-03
    days on market $64,500 Active 22 DOM
13. 2026-06-02
    days on market $64,500 Active 21 DOM
14. 2026-06-01
    days on market $64,500 Active 20 DOM
15. 2026-05-31
    days on market $64,500 Active 19 DOM
16. 2026-05-13
    price $64,500 202-char remark
17. 2026-05-12
    listed $65,000 Active 202-char remark
18. 2026-03-14
    listed $900
19. 2026-01-01
    historical $900
20. 2025-12-21
    listed $900
21. 2024-12-23
    historical
22. 2024-11-22
    listed $115,000
23. 2011-01-05
    soldstatus
24. 2002-06-28
    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: $15,839
• − Mortgage interest: −$3,725
• − Property taxes: −$2,893
• − Insurance: −$332
• − Repairs & maintenance: −$1,267
• − Management: −$1,267
• − HOA: −$4,680
• − Depreciation: −$1,935
• Taxable loss: −$260
• Est. tax savings @ 24.0%: +$62
• After-tax cash flow: $485/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

-42.2% since first listed

11 events — show timeline

• 2026-06-16 Price Changed $66,500 FSBO.com
• 2026-05-25 Rental Removed $900 SHOWMOJO
• 2026-05-13 Price Changed $64,500 FSBO.com
• 2026-05-12 Listed $65,000 FSBO.com
• 2026-03-14 Listed for Rent $900 SHOWMOJO
• 2026-01-01 Rental Removed $900 SHOWMOJO
• 2025-12-21 Listed for Rent $900 SHOWMOJO
• 2024-12-23 Listing Removed — NTREIS
• 2024-11-22 Listed $115,000 NTREIS
• 2011-01-05 Sold (Public Records) — Public Records
• 2002-06-28 Sold (Public Records) — Public Records

Property tax history

+9.7%/yr

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