9801 Walnut St Unit A307 · Dallas, TX 75243

$35,000

1 bd · 1.0 ba · 423 sqft · Condo · 39 Days on market

Built 2023 Good condition $83/sqft · 36% below area Est $54k · 36% under $179/mo HOA · 20% of rent ↓ 49% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

This does not have a Green Tag from the City for MOVE in for homestead or lease. It will be 30-360 days before green tag is approved by City to turn on electricity. This is a buy and hold property. Calling ALL INVESTORS or home owners! 1 bedroom 1 bath condo on the 3rd floor located in the heart of Dallas, 635 and 75 and TI blvd! Newly renovated, fresh paint, and new flooring throughout the unit. 2023 rebuilt Kitchen features black and stainless-steel appliances. Perfect investment property needs green tagged from the city of Dallas, this unit is not green tagged, waiting on City of Dallas for approval. We have no timeline or date when that will be approved, seller is selling as is where i

Key facts

• 3rd floor
• Newly renovated
• $179 HOA

Tags

• 3RD FLOOR
• NEWLY RENOVATED

Property features AI

Finance

• Other: Property type: Residential condominium; Complex name: Richland Trace; Subdivision: Richland Trace Condos
• Financial info: Listing accepts cash, conventional, 1031 exchange, and may allow owner financing; Second mortgage: none indicated
• HOA & community: Mandatory association; Monthly association fee; Association covers front yard maintenance, grounds maintenance, sewer, water, insurance, management fees, security, and full use of facilities

Exterior

• Parking: Assigned parking in a parking lot; No garage or carport spaces
• Security: Security included in association services
• Utilities: City water; City sewer; Electricity connected; Cable available
• Home design: Condominium attached unit; Three-story building; unit on floor 3; New construction (2023; incomplete); Smart-home features present
• Construction: Built in 2023; Wood construction; Composition roof; Slab foundation
• Exterior features: Community outdoor in-ground pool (fenced); Community mailbox; All-weather road access

Interior

• Kitchen: Disposal; Electric oven; Electric range; Refrigerator
• Bedrooms: One bedroom (primary bedroom on first level)
• Flooring: Luxury vinyl plank flooring
• Bathrooms: One full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Cable TV available; High-speed internet available; Built-in cabinets in living room; One living area; One dining area; Room count: 2
• Laundry & utility: No laundry appliances listed

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $35k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $298 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($910 rent vs $35k).
• Recommended offer: $34k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.5% 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.

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: Richland El (math 26% / reading 27%, grade F, #2,927 of 4,322 statewide, top 68%, 644 students, 76% FRL) — zoned schools average 76% FRL vs 54% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 26% at this address vs 42% district-wide (-16 pts) — the specific schools serving this property underperform the Richardson ISD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents falling (-5.3%/yr); 271 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 $242 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $10k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($34k) 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

• 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 $33,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% 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. 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. 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.
7. 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.
8. 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: 2.60% ✓
• Cap rate: 16.52%
• Cash-on-cash: 36.52%
• DSCR: 2.62
• GRM: 3.2

CMA / ARV

• ARV (median comp): $54,296
• List price: $35,000
• Delta: -35.54%
• 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: 27.9%
• Equity multiple: 2.10×
• Total profit: $10,780
• Equity at exit: $5,219

10-year hold

• IRR: 33.0%
• Equity multiple: 3.45×
• Total profit: $24,041
• Equity at exit: $3,026

Cash invested: $9,800 (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: 3.2×

Monthly cashflow live

• Estimated rent: $910 medium
• Mortgage (P&I): −$184
• Tax est. 1.5%: −$44 /mo · $525/yr
• Insurance: −$15
• HOA: −$179
• Vacancy / Maint / Mgmt: −$191
• Net cashflow: $298

Break-even live

Break-even rent $533

Max offer price $35,000

Occupancy floor 62%

Sensitivity live

Price	-10% $322	-5% $310	+0% $298	+5% $286	+10% $274
Rent	-10% $226	-5% $262	+0% $298	+5% $334	+10% $370
Rate	-1.0pp $316	-0.5pp $307	base $298	+0.5pp $289	+1.0pp $280

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $179 · $2,148/yr
• Likely covers: electric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-02
   status $35,000 Pending 39 DOM
2. 2026-06-01
   days on market $35,000 Active 39 DOM
3. 2026-05-31
   days on market $35,000 Active 38 DOM
4. 2026-04-21
   listed $35,000 Active 951-char remark
5. 2025-03-10
   listed $66,000 Active
6. 2025-03-07
   historical
7. 2024-06-22
   price $60,000
8. 2024-06-10
   price $63,000
9. 2024-04-16
   status Active
10. 2024-03-21
    historical Active Contingent
11. 2024-03-11
    listed $68,000 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: $10,923
• − Mortgage interest: −$1,961
• − Property taxes: −$525
• − Insurance: −$175
• − Repairs & maintenance: −$874
• − Management: −$874
• − HOA: −$2,148
• − Depreciation: −$1,018
• Taxable income: $3,349
• Est. tax owed @ 24.0%: −$804
• After-tax cash flow: $2,775/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 newly renovated 1-bedroom 1-bath condo is ready for move-in and lease. It awaits Green tag approval from the City of Dallas for immediate occupancy.

Value-add opportunities

• Both Green tag approval from the City of Dallas — Needed for move-in and lease
• Both Landscaping improvements — Enhances curb appeal and property value
• Both Painting exterior and interior walls — Fresh paint improves curb appeal and interior aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both Green tag approval from the City of Dallas — Needed for move-in and lease ↑
• Both Landscaping improvements — Enhances curb appeal and property value ↑
• Both Painting exterior and interior walls — Fresh paint improves curb appeal and interior aesthetics ↑

ⓘ 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

-48.5% since first listed

9 events — show timeline

• 2026-06-01 Pending — NTREIS
• 2026-04-21 Listed $35,000 NTREIS
• 2025-03-10 Listed $66,000 NTREIS
• 2025-03-07 Listing Removed — NTREIS
• 2024-06-22 Price Changed $60,000 NTREIS
• 2024-06-10 Price Changed $63,000 NTREIS
• 2024-04-16 Relisted — NTREIS
• 2024-03-21 Contingent — NTREIS
• 2024-03-11 Listed $68,000 NTREIS