272 Sparkling Springs Dr · Waxahachie, TX 75165

$419,900

4 bd · 2.0 ba · 1,981 sqft · Land · 122 Days on market

Built 2024 0.27 ac lot $42/mo HOA · 2% of rent ↓ 5% since listing

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Why this score? — see what drove the F 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 +7.5/15.0
• Cash flow +7.3/30.0
• Schools +3.9/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• DSCR +1.5/10.0
• 1% rule +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

MLS# 21102518 - Built by J Houston Homes - Ready Now! ~ Welcome to your new home at 272 Sparkling Springs in Waxahachie, TX. This stunning single-story John Houston home was built in 2025 in the Oasis at North Grove community. This lovely home features an inviting craftsman-style brick exterior, a modern 8-foot front door, and numerous amenities to support a luxurious lifestyle. With four bedrooms and two baths, the Boston floor plan offers over 1,900 square feet of living space. One of the bedrooms could also be converted into a spacious office with a walk-in closet and muted, neutral colors. Experience the versatility of a spacious kitchen featuring exotic white and gray marble counters,

Key facts

• 0.27 acre lot
• 2 garage spots
• Community pool

Property features AI

Finance

• Other: Subdivision: The Oasis; Directions: From Hwy 77 North, Right on Northgrove Blvd to The Oasis of Northgrove entrance; County: Ellis
• Financial info: Treat as clear loan type; No second mortgage
• HOA & community: Mandatory association with annual fee; Annual association fee of $500 (management fees included); HOA managed by Jhouston (866-460-8528); Community features include a community pool, curbs, jogging/bike path, park, and sidewalks

Exterior

• Parking: Attached 2-car garage; Covered parking for 2 vehicles; 2-car single door garage
• Utilities: City water; City sewer; No municipal utility district
• Home design: Single family residence; One story; Residential property; New construction (completed in 2024)
• Construction: Brick and rock/stone exterior; Composition roof; Slab foundation; Built in 2024
• Exterior features: Wood fencing; Covered patio/porch

Interior

• Kitchen: Dishwasher; Disposal
• Bedrooms: Primary bedroom on main level (16 x 15); Bedroom on main level (10 x 11); Bedroom on second level (10 x 10); Bedroom on main level (11 x 10)
• Flooring: Carpet; Ceramic tile; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Cable TV available; Decorative lighting; One living area; One dining area; Six total rooms

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $420k.

Deal economics

• At list price, monthly cash flow is $-551 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $323k (23.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $251k (40.2% below list).
• Recommended offer: $251k (40.2% below list) — sets the bar for 1% rule.
• Cap rate 4.7% vs local median 3.3% in Waxahachie — 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 78/100 on livability (#71 in TX, #2,592 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: commute F.
• Waxahachie ISD (suburban): math 45% / reading 44% proficiency, ranked #253 of 826 in TX (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Simpson El (math 51% / reading 51%, grade C-, #818 of 4,322 statewide, top 19%, 627 students, 32% FRL) — zoned schools average 32% FRL vs 48% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.4%/yr); 854 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,016 units permitted in Ellis County in 2024 (20 in 5+ unit buildings).
• This rent runs 35% of the median local income ($86k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Ellis County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($370k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Recommended offer $251,131 (40.2% 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 122 days. Have you received any prior offers? Is the seller open to a 40% 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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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?
8. 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.
9. 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.
10. 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: 0.60% ✗
• Cap rate: 4.72%
• Cash-on-cash: -5.63%
• DSCR: 0.75
• GRM: 13.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.4% rent growth · sell at horizon

5-year hold

• IRR: -25.6%
• Equity multiple: 0.13×
• Total profit: $-102,328
• Equity at exit: $62,608

10-year hold

• IRR: -21.2%
• Equity multiple: -0.11×
• Total profit: $-130,882
• Equity at exit: $36,305

Cash invested: $117,572 (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 75165

• Home prices YoY: -24.5%
• Rents YoY: 3.4%
• Active inventory: 854
• Price-to-rent: 13.9×

Monthly cashflow live

• Estimated rent: $2,511 high
• Mortgage (P&I): −$2,202
• Tax from tax record: −$116 /mo · $1,395/yr
• Insurance: −$175
• HOA: −$42
• Vacancy / Maint / Mgmt: −$527
• Net cashflow: $-551

Break-even live

Break-even rent $3,209

Max offer price $322,509

Occupancy floor —

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: $104,975
• Closing costs: $12,597
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
217 Resting Place Rd Waxahachie, TX	3.0	3.0	2521	$2,800	$1.11	24d	1	0.21mi
217 Resting Place Rd Waxahachie, TX	3.0	3.0	2533	$2,800	$1.11	22d	1	0.21mi
116 Aucuba Ln Waxahachie, TX	4.0	2.0	2140	$2,850	$1.33	43d	1	0.30mi
1873 Ethereal Ln Waxahachie, TX	3.0	2.5	1680	$2,350	$1.40	43d	1	0.35mi
1909 Ethereal Ln Waxahachie, TX	3.0	2.5	1663	$2,400	$1.44	43d	1	0.36mi
1773 Refuge Way Waxahachie, TX	3.0	2.5	1392	$2,250	$1.62	18d	1	0.38mi
2186 Liriope Ln Waxahachie, TX	4.0	3.0	2590	$2,829	$1.09	22d	1	0.39mi
500 Restoration Rd Waxahachie, TX	3.0	2.5	1361	$2,250	$1.65	18d	1	0.39mi
1785 Refuge Way Waxahachie, TX	3.0	2.5	1365	$2,250	$1.65	43d	1	0.40mi
1785 Refuge Way Waxahachie, TX	3.0	2.5	1365	$2,250	$1.65	13d	1	0.40mi
1789 Refuge Way Waxahachie, TX	3.0	2.5	1392	$2,250	$1.62	18d	1	0.41mi
1789 Refuge Way Waxahachie, TX	3.0	2.5	1392	$2,250	$1.62	13d	1	0.41mi
488 Restoration Rd Waxahachie, TX	3.0	2.5	1362	$2,250	$1.65	18d	1	0.41mi
440 Restoration Rd Waxahachie, TX	3.0	2.5	1362	$2,250	$1.65	11d	1	0.41mi
484 Restoration Rd Waxahachie, TX	3.0	2.5	1392	$2,250	$1.62	18d	1	0.41mi
480 Restoration Rd Waxahachie, TX	3.0	2.5	1392	$2,250	$1.62	43d	1	0.42mi
1801 Refuge Way Waxahachie, TX	3.0	2.5	1392	$2,250	$1.62	7d	1	0.43mi
468 Restoration Rd Waxahachie, TX	3.0	2.5	1392	$2,400	$1.72	10d	1	0.43mi
472 Restoration Rd Waxahachie, TX	3.0	2.5	1392	$2,250	$1.62	18d	1	0.44mi
1566 Country Crest Dr Waxahachie, TX	4.0	2.5	2568	$2,900	$1.13	43d	1	0.62mi
155 Lakeside Dr Waxahachie, TX	1.0–3.0	1.0–2.0	990	$1,999	$2.02	1d	7	0.89mi
1250 U.S. 287 Waxahachie, TX	1.0–3.0	1.0–2.0	1042	$2,319	$2.22	2d	17	1.17mi
213 Nocona Dr Waxahachie, TX	5.0	2.0	2516	$9,750	$3.88	43d	1	1.41mi

HOA detail

• Monthly dues: $42 · $504/yr

Listing history 10 events

1. 2026-05-01
   status Pending
2. 2026-03-26
   price $419,900
3. 2026-02-02
   price $429,990
4. 2026-01-31
   price $419,990
5. 2026-01-24
   price $429,990
6. 2025-12-31
   price $419,990
7. 2025-12-30
   status Active
8. 2025-11-04
   price $424,900
9. 2025-11-03
   status Pending
10. 2025-11-01
    listed $439,900 Active

ⓘ 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: $1,395 · $116/mo
• Projected year-2 tax: $7,684 · $640/mo
• Expected delta: +$6,289/yr (+$524/mo · 450.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $30,136
• − Mortgage interest: −$23,521
• − Property taxes: −$1,395
• − Insurance: −$2,100
• − Repairs & maintenance: −$2,411
• − Management: −$2,411
• − HOA: −$504
• − Depreciation: −$12,215
• Taxable loss: −$14,421
• Est. tax savings @ 24.0%: +$3,461
• After-tax cash flow: $-3,155/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.

Schools (NCES district)

• District: Waxahachie ISD
• NCES district ID: 4844730
• Math proficiency: 45% ▼ -7.00%
• Reading proficiency: 44% ▼ -6.00%
• Median HH income: $59,434
• Composite: 39.14/100
• National rank: #4034
• State rank: #253 of 826 in TX

Livability — Waxahachie

• Score: 78/100
• State rank: #71
• US rank: #2592

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waxahachie, TX
• County: Ellis County · 199,237 people
• City population: 67,417
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 53,513
• Household income: $86,391
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1365.0

Population outlook (Ellis County) Hauer SSP2

• Today (2025): 194,556 people
• By 2030: 209,679 · +7.8%
• By 2040: 238,837 · +22.8%
• By 2050: 265,451 · +36.4%
• By 2075: 326,571 · +67.9%
• By 2100: 362,156 · +86.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 56% Hispanic / Latino 26% Black 14% Two or more races 13%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 2%
• Foreign-born: 7% · Canada
• Languages at home: 84% English-only · Spanish 15%

Political lean MEDSL · Ellis

• 2024 margin: Solid R (+31.1) · D 34.0% · R 65.1%
• 2008→2024 swing: +11.2pp toward D · 2008: -42.2pp · 2024: -31.1pp
• All cycles: 2024: R+31.1 2020: R+34.1 2016: R+45.4 2012: R+47.5 2008: R+42.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -82.58%
• Current HPI: 255.0247
• Rent YoY: ▲ 3.40%
• 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

-4.5% since first listed

10 events — show timeline

• 2026-05-01 Pending — NTREIS
• 2026-03-26 Price Changed $419,900 NTREIS
• 2026-02-02 Price Changed $429,990 NTREIS
• 2026-01-31 Price Changed $419,990 NTREIS
• 2026-01-24 Price Changed $429,990 NTREIS
• 2025-12-31 Price Changed $419,990 NTREIS
• 2025-12-30 Relisted — NTREIS
• 2025-11-04 Price Changed $424,900 NTREIS
• 2025-11-03 Pending — NTREIS
• 2025-11-01 Listed $439,900 NTREIS

Property tax history

+90.2%/yr

Latest (2025): $1,395 · +0.0% YoY. Source: county tax records.