4032 Delta Dr · Royse City, TX 75189

$269,000

3 bd · 2.0 ba · 1,438 sqft · SingleFamily public records · 111 Days on market

Built 2020 Good condition 7,492 sqft lot $187/sqft · 17% below area Est $325k · 17% under $59/mo HOA · 3% of rent ↓ 4% since listing

---

Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +8.0/30.0
• Condition / age +4.0/5.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• 1% rule +3.6/10.0
• Rent growth +2.2/5.0
• DSCR +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming single story HistoryMaker home built in 2021. Be immediately drawn to the cozy front porch where you will imagine a summer evening enjoying a glass of iced tea on the front porch swing. The open concept living area is filled with natural light and provides lots of room to relax and enjoy family time together. The kitchen features a large center island with white quartz countertops, designer backsplash, grey cabinetry, stainless steel appliances, and a gas burner stove. The primary suite offers a walk-in closet and an ensuite bath with walk-in shower, roomy linen closet, and dual vanities. Enjoy outdoor living in the oversized backyard or enjoy the many amenities that the Waterscape neighborhood has to offer. The much sought after Paula Walker Elementary is new to the neighborhood and within walking distance from the home.

Key facts

• Large center island
• Front porch
• Designer backsplash

Tags

• FRONT PORCH
• OPEN CONCEPT LIVING AREA
• LARGE CENTER ISLAND
• WHITE QUARTZ COUNTERTOPS
• DESIGNER BACKSPLASH
• STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $269k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-273 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $221k (17.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $231k (14.2% below list).
• Recommended offer: $221k (17.9% below list) — sets the bar for cash-flow.
• Cap rate 5.1% vs local median 4.2% in Royse City — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 75/100 on livability (#158 in TX, #4,292 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F.
• Royse City ISD (rural): math 42% / reading 42% proficiency, ranked #266 of 826 in TX (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Anita Scott El (math 53% / reading 40%, grade D-, #1,080 of 4,322 statewide, top 25%, 712 students, 47% FRL); Ouida Baley Middle (math 32% / reading 35%, grade F, #911 of 1,662 statewide, top 56%, 934 students, 43% FRL); Royse City H S (math 38% / reading 55%, grade D-, #621 of 1,632 statewide, top 38%, 2,526 students, 37% FRL).
• Market conditions: Rents soft (-1.1%/yr); 1301 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,810 units permitted in Rockwall County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Rockwall County population projected at +56% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($245k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $220,765 (17.9% below list)

Questions for the listing agent

1. 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?
2. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.86% ✗
• Cap rate: 5.07%
• Cash-on-cash: -4.35%
• DSCR: 0.81
• GRM: 9.7

CMA / ARV

• ARV (median comp): $324,937
• List price: $269,000
• Delta: -17.21%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3078 Aqueduct Ave	0.07mi	3/2.0	1,459 (+2%)	18mo	$278,000	$191	79
2021 Bayfront Dr	0.36mi	3/2.0	1,458 (+1%)	7mo	$297,990	$204	75
2029 Bayfront Dr	0.36mi	3/2.0	1,480 (+3%)	6mo	$283,680	$192	73
1218 Falls Rush Way	0.30mi	3/2.0	1,480 (+3%)	10mo	$299,900	$203	73
2001 Bayfront Dr	0.36mi	3/2.0	1,605 (+12%)	1mo	$309,990	$193	63
2017 Bayfront Dr	0.36mi	3/2.0	1,605 (+12%)	3mo	$299,990	$187	62
1234 Falls Rush Way	0.30mi	3/2.0	1,582 (+10%)	9mo	$299,900	$190	61
2057 Bayfront Dr	0.35mi	3/2.0	1,582 (+10%)	14mo	$324,999	$205	56
1226 Falls Rush Way	0.31mi	3/2.0	1,605 (+12%)	14mo	$299,990	$187	55
1206 Falls Rush Way	0.31mi	3/2.0	1,605 (+12%)	16mo	$316,994	$198	53
2081 Bayfront Dr	0.35mi	3/2.0	1,605 (+12%)	15mo	$299,990	$187	52
2115 Slow Stream Dr	0.31mi	3/2.0	1,637 (+14%)	19mo	$278,000	$170	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -27.5%
• Equity multiple: 0.10×
• Total profit: $-67,563
• Equity at exit: $40,109

10-year hold

• IRR: -45.0%
• Equity multiple: -0.42×
• Total profit: $-106,630
• Equity at exit: $23,258

Cash invested: $75,320 (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 75189

• Home prices YoY: -25.0%
• Rents YoY: -1.1%
• Active inventory: 1301
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,308 medium
• Mortgage (P&I): −$1,411
• Tax from tax record: −$515 /mo · $6,174/yr
• Insurance: −$112
• HOA: −$59
• Vacancy / Maint / Mgmt: −$485
• Net cashflow: $-273

Break-even live

Break-even rent $2,654

Max offer price $220,765

Occupancy floor —

Sensitivity live

Price	-10% $-121	-5% $-197	+0% $-273	+5% $-349	+10% $-425
Rent	-10% $-455	-5% $-364	+0% $-273	+5% $-182	+10% $-91
Rate	-1.0pp $-138	-0.5pp $-205	base $-273	+0.5pp $-343	+1.0pp $-414

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: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3762 S FM 548 Royse City, TX	3.0	2.0	1568	$1,899	$1.21	7d	1	0.80mi
107 Dustin Dr Fate, TX	3.0	2.0	1659	$2,600	$1.57	24d	1	1.40mi
7307 Village Falls Ln Royse City, TX	4.0	2.0	1731	$2,110	$1.22	1d	1	1.48mi

HOA detail

• Monthly dues: $59 · $708/yr
• Likely covers: watergas

Listing history 20 events

1. 2026-06-21
   days on market $269,000 Active 111 DOM
2. 2026-06-18
   days on market $269,000 Active 108 DOM
3. 2026-06-17
   days on market $269,000 Active 107 DOM
4. 2026-06-16
   days on market $269,000 Active 106 DOM
5. 2026-06-16
   price $269,000 Active 105 DOM
6. 2026-06-15
   days on market $270,000 Active 105 DOM
7. 2026-06-13
   days on market $270,000 Active 103 DOM
8. 2026-06-09
   days on market $270,000 Active 99 DOM
9. 2026-06-08
   days on market $270,000 Active 98 DOM
10. 2026-06-07
    days on market $270,000 Active 97 DOM
11. 2026-06-04
    days on market $270,000 Active 94 DOM
12. 2026-06-03
    days on market $270,000 Active 93 DOM
13. 2026-06-02
    pricedays on market $270,000 Active 92 DOM
14. 2026-06-01
    days on market $274,900 Active 91 DOM
15. 2026-05-31
    days on market $274,900 Active 90 DOM
16. 2026-05-08
    price $274,900 858-char remark

    Show marketing remark (858 chars)

    Welcome to this charming single story HistoryMaker home built in 2021. Be immediately drawn to the cozy front porch where you will imagine a summer evening enjoying a glass of iced tea on the front porch swing. The open concept living area is filled with natural light and provides lots of room to relax and enjoy family time together. The kitchen features a large center island with white quartz countertops, designer backsplash, grey cabinetry, stainless steel appliances, and a gas burner stove. The primary suite offers a walk-in closet and an ensuite bath with walk-in shower, roomy linen closet, and dual vanities. Enjoy outdoor living in the oversized backyard or enjoy the many amenities that the Waterscape neighborhood has to offer. The much sought after Paula Walker Elementary is new to the neighborhood and within walking distance from the home.

17. 2026-04-09
    price $275,000 858-char remark

    Show marketing remark (858 chars)

    Welcome to this charming single story HistoryMaker home built in 2021. Be immediately drawn to the cozy front porch where you will imagine a summer evening enjoying a glass of iced tea on the front porch swing. The open concept living area is filled with natural light and provides lots of room to relax and enjoy family time together. The kitchen features a large center island with white quartz countertops, designer backsplash, grey cabinetry, stainless steel appliances, and a gas burner stove. The primary suite offers a walk-in closet and an ensuite bath with walk-in shower, roomy linen closet, and dual vanities. Enjoy outdoor living in the oversized backyard or enjoy the many amenities that the Waterscape neighborhood has to offer. The much sought after Paula Walker Elementary is new to the neighborhood and within walking distance from the home.

18. 2026-03-31
    price $279,900 858-char remark

    Show marketing remark (858 chars)

    Welcome to this charming single story HistoryMaker home built in 2021. Be immediately drawn to the cozy front porch where you will imagine a summer evening enjoying a glass of iced tea on the front porch swing. The open concept living area is filled with natural light and provides lots of room to relax and enjoy family time together. The kitchen features a large center island with white quartz countertops, designer backsplash, grey cabinetry, stainless steel appliances, and a gas burner stove. The primary suite offers a walk-in closet and an ensuite bath with walk-in shower, roomy linen closet, and dual vanities. Enjoy outdoor living in the oversized backyard or enjoy the many amenities that the Waterscape neighborhood has to offer. The much sought after Paula Walker Elementary is new to the neighborhood and within walking distance from the home.

19. 2026-03-03
    listed $285,000 Active 858-char remark

    Show marketing remark (858 chars)

    Welcome to this charming single story HistoryMaker home built in 2021. Be immediately drawn to the cozy front porch where you will imagine a summer evening enjoying a glass of iced tea on the front porch swing. The open concept living area is filled with natural light and provides lots of room to relax and enjoy family time together. The kitchen features a large center island with white quartz countertops, designer backsplash, grey cabinetry, stainless steel appliances, and a gas burner stove. The primary suite offers a walk-in closet and an ensuite bath with walk-in shower, roomy linen closet, and dual vanities. Enjoy outdoor living in the oversized backyard or enjoy the many amenities that the Waterscape neighborhood has to offer. The much sought after Paula Walker Elementary is new to the neighborhood and within walking distance from the home.

20. 2020-11-23
    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: $6,174 · $515/mo
• Projected year-2 tax: $6,174 · $515/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 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,695
• − Mortgage interest: −$15,068
• − Property taxes: −$6,174
• − Insurance: −$1,345
• − Repairs & maintenance: −$2,216
• − Management: −$2,216
• − HOA: −$708
• − Depreciation: −$7,825
• Taxable loss: −$7,858
• Est. tax savings @ 24.0%: +$1,886
• After-tax cash flow: $-1,391/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 80/100 Cosmetic rehab

This single-story home, built in 2021, is in good condition with a modern kitchen and bathrooms. It's ready for a fresh coat of paint to enhance its curb appeal and value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and can increase both resale and rental value.
• Both Clean gutters — Improves drainage and can prevent water damage, enhancing both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Clean gutters — Improves drainage and can prevent water damage, enhancing both resale and rental 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: Royse City ISD
• NCES district ID: 4838220
• Math proficiency: 42% ▼ -10.00%
• Reading proficiency: 42% ▼ -5.00%
• Median HH income: $73,810
• Composite: 38.44/100
• National rank: #4197
• State rank: #266 of 826 in TX

Livability — Royse City

• Score: 75/100
• State rank: #158
• US rank: #4292

Category grades

Amenities F Commute F Cost of living A- Crime A+ Employment A+ Housing A+ Health & safety B+ User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Rockwall County · 132,930 people
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 48,739
• Household income: $117,125
• Rent vs Own: 11.5% rent · 88.5% own
• Severe rent burden: 569.0

Population outlook (Rockwall County) Hauer SSP2

• Today (2025): 118,396 people
• By 2030: 132,209 · +11.7%
• By 2040: 159,538 · +34.7%
• By 2050: 185,299 · +56.5%
• By 2075: 243,489 · +105.7%
• By 2100: 277,814 · +134.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 60% Hispanic / Latino 25% Two or more races 12% Black 10% Asian 2%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Slovak 2% Serbian 1% Lithuanian 1%
• Foreign-born: 10% · Canada, Philippines, Jamaica
• Languages at home: 80% English-only · Spanish 15% Other Indo-European 1%

Political lean MEDSL · Rockwall

• 2024 margin: Solid R (+40.9) · D 29.1% · R 70.0%
• 2008→2024 swing: +5.3pp toward D · 2008: -46.2pp · 2024: -40.9pp
• All cycles: 2024: R+40.9 2020: R+37.7 2016: R+47.5 2012: R+53.3 2008: R+46.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -71.10%
• Current HPI: 212.8422
• Rent YoY: ▼ -1.13%
• 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

-3.5% since first listed

5 events — show timeline

• 2026-05-08 Price Changed $274,900 NTREIS
• 2026-04-09 Price Changed $275,000 NTREIS
• 2026-03-31 Price Changed $279,900 NTREIS
• 2026-03-03 Listed $285,000 NTREIS
• 2020-11-23 Sold (Public Records) — Public Records

Property tax history

+35.1%/yr

Latest (2025): $6,174 · -8.5% YoY. Source: county tax records.