Turnkey 2-Condo Package, NE Dallas | $169,900, Open to Offers | Sold Separately | Cash
Windtree Condominiums, 8110 Skillman St, Dallas 75231. Both units vacant, rent-ready, no major repairs needed. Sold as-is.
UNIT #2062 – 2 bed / 2 bath, ~900 sq ft, updated
- Price: $94,900
- Last lease: $1,500/mo
- HOA: $483.75/mo
- Taxes (est.): ~$2,300–2,700/yr
- Insurance: $950–1,050/yr
UNIT #2020 – 1 bed / 1 bath, ~680 sq ft
- Price: $74,900
- Last lease: $1,150/mo
- HOA: $336.12/mo
- Taxes (est.): ~$1,800–2,100/yr
- Insurance: $850–950/yr
BOTH UNITS: $169,900 – open to offers. Combined last leases: $2,650/mo.
HOA dues include: water, trash collection, grounds maintenance, gated entry, building exterior and roof, and pool.
Special assessments: None in the last ___ years, none planned
Rentals: allowed. [No rental cap, waitlist, or owner-occupancy requirement.]
Why cash: the complex is non-warrantable, so cash or DSCR loans only. The sale is subject to court approval, and the HOA balance will be paid at closing, so you get clean title.
Monte — the gross numbers will get clicks: $2,550/mo on $169,900 for both units is a strong gross yield. But nobody who buys condos underwrites gross. The whole deal lives or dies on the HOA, and that is the info missing from the post.
Post these and you will get real offers instead of twenty 'send me info' messages: monthly HOA dues per unit, any special assessments in the last few years or planned, Windtree's rental policy — specifically any rental cap, waitlist, or owner-occupancy requirement — taxes and insurance per unit, and what each unit actually leased for last time vs. the $2,550 combined potential. Also post the individual unit prices in the thread. Plenty of buyers can only take one unit, and making them message you for the split price filters out people who were ready to write.
One more thing buyers will ask anyway: why cash only if they are turnkey? If it is HOA litigation, warrantability, or just speed, say it up front. Answering it before they ask protects your price.
Putting the HOA, tax and lease numbers up front and saying plainly that the complex is non-warrantable will save you a lot of back and forth. For a buyer going the DSCR route, most DSCR lenders count the HOA dues against the rent. On #2062 that's $483.75 coming out of a $1,500 lease before taxes, insurance or the mortgage are even counted. Fewer lenders do non-warrantable condos, and the ones that do commonly send the HOA their own condo questionnaire, so having that ready early keeps a financed buyer moving. The court approval matters too, since a financed buyer's appraisal and rate lock both run on a clock. Roughly how long is the court step expected to take?