9803 Walnut St #302 · Dallas, TX 75243

$51,500

1 bd · 1.0 ba · 423 sqft · Condo · 71 Days on market

Built 1981 Good condition $122/sqft · 5% below area Est $54k · 5% under $176/mo HOA · 19% of rent

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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 +29.7/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.8/15.0
• 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

ALL WOOD FLOOR, NO CARPET! PRICE TO SELL! Well maintained 1-Bedroom Condo in Dallas perfect for first time buyers or investors! Spacious living room with open kitchen. Bedroom with walk-in closet and a balcony. Full size bath with a walk-in shower. Central AC and heating. Ceiling fans in the living and bedroom. Water is included in the HOA fee. Minutes from Richland College and HWY 635 and HWY 75. Great locations!

Key facts

• Central ac
• Walk-in closet
• Balcony

Tags

• WOOD FLOOR
• WALK-IN CLOSET
• BALCONY
• WALK-IN SHOWER
• CENTRAL AC
• HEATING

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $52k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $187 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($910 rent vs $52k).
• Recommended offer: $48k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.7% 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); 279 active listings in the ZIP; 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 $356 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 71 days — a 6% lower offer ($48k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $48,410 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.77% ✓
• Cap rate: 10.66%
• Cash-on-cash: 15.58%
• DSCR: 1.69
• GRM: 4.7

CMA / ARV

• ARV (median comp): $54,302
• List price: $51,500
• Delta: -5.16%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 2.0%
• Equity multiple: 1.07×
• Total profit: $1,033
• Equity at exit: $7,679

10-year hold

• IRR: 7.2%
• Equity multiple: 1.45×
• Total profit: $6,440
• Equity at exit: $4,453

Cash invested: $14,420 (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: 4.7×

Monthly cashflow live

• Estimated rent: $910 medium
• Mortgage (P&I): −$270
• Tax est. 1.5%: −$64 /mo · $772/yr
• Insurance: −$21
• HOA: −$176
• Vacancy / Maint / Mgmt: −$191
• Net cashflow: $187

Break-even live

Break-even rent $673

Max offer price $51,500

Occupancy floor 74%

Sensitivity live

Price	-10% $223	-5% $205	+0% $187	+5% $169	+10% $152
Rent	-10% $115	-5% $151	+0% $187	+5% $223	+10% $259
Rate	-1.0pp $213	-0.5pp $200	base $187	+0.5pp $174	+1.0pp $160

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: $12,875
• Closing costs: $1,545
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $176 · $2,112/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-17
   days on market $51,500 Active 71 DOM
2. 2026-06-16
   days on market $51,500 Active 70 DOM
3. 2026-06-15
   days on market $51,500 Active 69 DOM
4. 2026-06-13
   days on market $51,500 Active 67 DOM
5. 2026-06-09
   days on market $51,500 Active 63 DOM
6. 2026-06-08
   days on market $51,500 Active 62 DOM
7. 2026-06-07
   days on market $51,500 Active 61 DOM
8. 2026-06-04
   days on market $51,500 Active 58 DOM
9. 2026-06-03
   days on market $51,500 Active 57 DOM
10. 2026-06-02
    days on market $51,500 Active 56 DOM
11. 2026-06-01
    days on market $51,500 Active 55 DOM
12. 2026-05-31
    days on market $51,500 Active 54 DOM
13. 2026-04-08
    price $51,500 417-char remark

    Show marketing remark (417 chars)

    ALL WOOD FLOOR, NO CARPET! PRICE TO SELL! Well maintained 1-Bedroom Condo in Dallas perfect for first time buyers or investors! Spacious living room with open kitchen. Bedroom with walk-in closet and a balcony. Full size bath with a walk-in shower. Central AC and heating. Ceiling fans in the living and bedroom. Water is included in the HOA fee. Minutes from Richland College and HWY 635 and HWY 75. Great locations!

14. 2026-04-07
    listed $515,000 Active 417-char remark

    Show marketing remark (417 chars)

    ALL WOOD FLOOR, NO CARPET! PRICE TO SELL! Well maintained 1-Bedroom Condo in Dallas perfect for first time buyers or investors! Spacious living room with open kitchen. Bedroom with walk-in closet and a balcony. Full size bath with a walk-in shower. Central AC and heating. Ceiling fans in the living and bedroom. Water is included in the HOA fee. Minutes from Richland College and HWY 635 and HWY 75. Great locations!

ⓘ 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: $10,923
• − Mortgage interest: −$2,885
• − Property taxes: −$772
• − Insurance: −$258
• − Repairs & maintenance: −$874
• − Management: −$874
• − HOA: −$2,112
• − Depreciation: −$1,498
• Taxable income: $1,651
• Est. tax owed @ 24.0%: −$396
• After-tax cash flow: $1,851/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 · 10 photos

Good 75/100 Cosmetic rehab

This well-maintained 1-bedroom condo is move-in ready with good condition and minimal repairs needed. It offers a spacious living room, open kitchen, and a full bath with a walk-in shower. The location is convenient to Richland College and major highways.

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and resale value
• Both Landscaping improvements — Enhances curb appeal and resale value
• Both New blinds — Enhances curb appeal and resale value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Enhances curb appeal and resale value ↑
• Both Landscaping improvements — Enhances curb appeal and resale value ↑
• Both New blinds — Enhances curb appeal and 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

-90.0% since first listed

2 events — show timeline

• 2026-04-08 Price Changed $51,500 NTREIS
• 2026-04-07 Listed $515,000 NTREIS