6108 Abrams Rd #330

Dallas, TX 75231

$94,900D

2 bd · 2.0 ba · 743 sqft · Built 1984 · Condo · Active · 56 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,497/mo
• Mortgage (P&I): −$498
• Tax + insurance: −$271
• HOA: −$475
• Vac / Maint / Mgmt: −$314
• Net cashflow: $-61/mo
• Annual: $-730/yr
• Cap rate: 5.52%
• Cash-on-cash: -2.75%
• DSCR: 0.88
• 1% rule: 1.58%
• Cash to close: $26,572

Investor read

• This is a 2-bed/2.0-bath condo listed at $95k.
• At list price, monthly cash flow is $-61 ($-730/yr) — negative.
• To cash-flow at today's rent, offer at most $84k (11.3% below list).
• Meets the 1% rule at list price ($1k rent vs $95k).
• It's been on market 56 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $84k (11.3% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $656 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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.
• Dallas ISD (urban): math 31% / reading 36% proficiency, ranked #559 of 826 in TX (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 83% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Solar Preparatory School For Girls At Bonham (math 59% / reading 65%, grade B, #321 of 4,322 statewide, top 8%, 743 students, 49% FRL) — zoned schools average 49% FRL vs 83% district-wide (34 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 62% at this address vs 34% district-wide (+28 pts) — the actual schools serving this property are materially stronger than the Dallas ISD average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: property tax is 2.9% of price; HOA is 32% of rent.
• Market conditions: Rents rising (+2.0%/yr); 214 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).
• Dallas County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 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.
• 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.
• Cap rate 5.5% 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.
• This rent runs 31% of the median local income ($59k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• It's been on market 56 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?