625 Summit Pass Ln · Princeton, TX 75407

$183,890

3 bd · 2.0 ba · 1,454 sqft · SingleFamily public records · 27 Days on market

Built 2022 Fair condition 6,381 sqft lot $126/sqft · 41% below area Est $311k · 41% under ↓ 41% since listing

---

Why this score? — see what drove the C 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 +18.0/30.0
• ARV discount +15.0/15.0
• 1% rule +6.3/10.0
• DSCR +5.6/10.0
• Schools +4.2/10.0
• Livability +3.1/5.0
• Rent growth +2.2/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

This is 3 bedroom 2 bathroom property

Key facts

• 6,381 sq ft lot
• 2 garage spots
• Built 2022

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water
• Home design: Residential property; Built in 2022; Slab foundation; Composition roof
• Construction: Brick and wood siding exterior
• Exterior features: Located in a subdivision

Interior

• Bedrooms: Primary bedroom on the first floor; Second bedroom on the first floor; Third bedroom on the first floor
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: 3 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $184k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $157 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $184k).
• Recommended offer: $181k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 4.5% in Princeton — 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 62/100 on livability (#969 in TX) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A; Watch: amenities F, commute F, health & safety F.
• Princeton ISD (suburban): math 51% / reading 47% proficiency, ranked #188 of 826 in TX (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Harper El (math 50% / reading 41%, grade D-, #1,112 of 4,322 statewide, top 26%, 436 students, 56% FRL); Clark Middle (math 53% / reading 42%, grade C-, #408 of 1,662 statewide, top 25%, 707 students, 66% FRL); Princeton H S (math 52% / reading 54%, grade C-, #437 of 1,632 statewide, top 27%, 1,521 students, 57% FRL) — zoned schools at 60% FRL track the district average.
• Market conditions: Rents soft (-1.0%/yr); 1404 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 19,194 units permitted in Collin County in 2024 (3,988 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Collin County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($181k) 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.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price.

Recommended offer $181,131 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.13% ✓
• Cap rate: 7.31%
• Cash-on-cash: 3.65%
• DSCR: 1.16
• GRM: 7.4

CMA / ARV

• ARV (median comp): $311,097
• List price: $183,890
• Delta: -40.89%
• 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
719 Stampede Ln	0.32mi	3/2.0	1,454 (0%)	2mo	$295,000	$203	84
1002 Dry Gulch Way	0.68mi	3/2.0	1,454 (0%)	2mo	$265,000	$182	66
624 Willow View Way	0.24mi	3/2.0	1,643 (+13%)	1mo	$295,000	$180	66
702 Stampede Ln	0.34mi	4/2.0 (+1)	1,592 (+10%)	2mo	$298,900	$188	62
405 Saddle Club Way	0.66mi	3/2.0	1,536 (+6%)	0mo	$275,000	$179	59
701 Gallop Dr	0.62mi	3/2.0	1,536 (+6%)	4mo	$275,000	$179	59
2206 Zephyr Dr	0.59mi	3/2.0	1,628 (+12%)	1mo	$294,990	$181	51
405 Rawhide Way	0.61mi	3/2.0	1,622 (+12%)	4mo	$275,000	$170	49
906 Honey Maple St	0.63mi	3/2.0	1,652 (+14%)	1mo	$265,000	$160	47
1220 Hopes Lake Dr	0.75mi	3/2.0	1,611 (+11%)	1mo	$273,490	$170	46
1213 Wolfcity Dr	0.66mi	3/2.0	1,647 (+13%)	3mo	$304,490	$185	45
408 Rawhide Way	0.63mi	4/2.0 (+1)	1,664 (+14%)	2mo	$275,000	$165	40

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: -14.5%
• Equity multiple: 0.50×
• Total profit: $-25,763
• Equity at exit: $27,419

10-year hold

• IRR: -12.7%
• Equity multiple: 0.37×
• Total profit: $-32,507
• Equity at exit: $15,899

Cash invested: $51,489 (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 75407

• Home prices YoY: -30.3%
• Rents YoY: -1.0%
• Active inventory: 1404
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,082 high
• Mortgage (P&I): −$964
• Tax from tax record: −$448 /mo · $5,371/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $157

Break-even live

Break-even rent $1,884

Max offer price $183,890

Occupancy floor 87%

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: $45,972
• Closing costs: $5,517
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
627 Willow View Way Princeton, TX	4.0	2.0	1664	$2,000	$1.20	43d	1	0.17mi
1412 Chestnut Cove Dr Princeton, TX	3.0	2.0	1633	$2,000	$1.22	20d	1	0.28mi
513 Spur Rdg Princeton, TX	3.0	2.0	1622	$2,200	$1.36	17d	1	0.36mi
603 Smokey Trl Princeton, TX	3.0	2.0	1622	$2,100	$1.29	18d	1	0.39mi
1501 Hidden Bluff Xing Princeton, TX	4.0	2.0	1794	$2,200	$1.23	12d	1	0.40mi
408 Stampede Ln Princeton, TX	4.0	2.0	1794	$1,925	$1.07	43d	1	0.40mi
611 Saddle Club Way Princeton, TX	4.0	2.0	1828	$2,100	$1.15	43d	1	0.54mi
604 Saddle Club Way Princeton, TX	4.0	2.0	1592	$2,050	$1.29	43d	1	0.57mi
1006 Honey Maple St Princeton, TX	4.0	2.0	1842	$1,950	$1.06	43d	1	0.65mi
1008 Honey Maple St Princeton, TX	4.0	2.0	1825	$1,995	$1.09	24d	1	0.66mi
420 Gunsmoke Trl Princeton, TX	4.0	2.0	1865	$1,975	$1.06	7d	1	0.74mi
2230 Currents Rd Princeton, TX	3.0	2.0	1836	$2,099	$1.14	43d	1	0.76mi
2440 Limerick Dr Princeton, TX	4.0	2.0	1783	$1,998	$1.12	24d	1	0.80mi
203 Marsh Ln Princeton, TX	3.0	2.5	1586	$1,575	$0.99	7d	1	1.01mi
204 Marsh Ln Princeton, TX	4.0	2.5	1722	$1,700	$0.99	43d	1	1.02mi
303 Stone Ct Princeton, TX	3.0	2.5	1586	$1,700	$1.07	24d	1	1.02mi
315 Stone Ct Princeton, TX	3.0	2.5	1573	$2,100	$1.34	43d	1	1.04mi
220 Marsh Ln Princeton, TX	4.0	2.5	1722	$1,785	$1.04	5d	1	1.05mi
229 Marsh Ln Princeton, TX	3.0	2.5	1550	$1,650	$1.06	24d	1	1.06mi
1525 Farm to Market Road 982 Princeton, TX	2.0–4.0	2.0–2.5	1551	$2,332	$1.50	1d	54	1.17mi
905 Silverbell St Princeton, TX	3.0	2.0	1445	$1,850	$1.28	18d	1	1.27mi
810 Silverbell St Princeton, TX	3.0	2.0	1602	$1,749	$1.09	7d	1	1.29mi
815 Evergreen St Princeton, TX	4.0	2.0	1835	$1,999	$1.09	43d	1	1.31mi
780 Evergreen St Princeton, TX	4.0	2.0	1838	$2,069	$1.13	43d	1	1.34mi
843 Ozark Path Princeton, TX	3.0	2.0	1249	$2,100	$1.68	43d	1	1.35mi
1208 Sequoia Ln Princeton, TX	4.0	2.0	1828	$2,000	$1.09	43d	1	1.36mi
922 Evergreen St Princeton, TX	4.0	2.0	1838	$1,900	$1.03	5d	1	1.36mi
865 Table Rock St Princeton, TX	3.0	2.0	1563	$2,050	$1.31	22d	1	1.37mi
366 Lake Erie Dr Princeton, TX	4.0	2.5	1824	$1,990	$1.09	24d	1	1.37mi
715 Mulberry Dr Princeton, TX	3.0	2.0	1298	$1,695	$1.31	24d	1	1.42mi
803 Table Rock St Princeton, TX	4.0	2.5	1683	$1,850	$1.10	43d	1	1.42mi
882 Breakwater Dr Princeton, TX	4.0	2.5	1824	$2,250	$1.23	22d	1	1.42mi
605 Grenada Lake Dr Princeton, TX	3.0	2.0	1563	$1,925	$1.23	15d	1	1.43mi
846 Breakwater Dr Princeton, TX	3.0	2.5	1824	$2,000	$1.10	3d	1	1.45mi
409 Buckeye Ave Princeton, TX	4.0	2.0	1726	$1,850	$1.07	43d	1	1.46mi
417 Sweet Shade Ln Princeton, TX	4.0	2.0	1726	$1,900	$1.10	17d	1	1.46mi
414 Sweet Shade Ln Princeton, TX	3.0	2.0	1700	$1,900	$1.12	43d	1	1.46mi
771 Bayonet St Princeton, TX	3.0	2.0	1516	$1,850	$1.22	22d	1	1.49mi
120 Spurgeon St Princeton, TX	3.0	2.0	1608	$1,599	$0.99	15d	1	1.49mi

Listing history 16 events

1. 2026-06-13
   statusdays on market $183,890 Pending 27 DOM
2. 2026-06-09
   days on market $183,890 Active 26 DOM
3. 2026-06-08
   days on market $183,890 Active 25 DOM
4. 2026-06-07
   days on market $183,890 Active 24 DOM
5. 2026-06-04
   days on market $183,890 Active 21 DOM
6. 2026-06-03
   days on market $183,890 Active 20 DOM
7. 2026-06-02
   days on market $183,890 Active 19 DOM
8. 2026-06-01
   days on market $183,890 Active 18 DOM
9. 2026-05-31
   days on market $183,890 Active 17 DOM
10. 2026-05-14
    listed $183,890 Active 37-char remark
11. 2026-03-26
    historical
12. 2025-06-30
    price $291,000
13. 2025-05-10
    price $285,000
14. 2025-04-06
    price $305,000
15. 2025-03-22
    price $315,000
16. 2025-03-21
    listed $310,000 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: $5,371 · $448/mo
• Projected year-2 tax: $5,371 · $448/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $24,990
• − Mortgage interest: −$10,301
• − Property taxes: −$5,371
• − Insurance: −$919
• − Repairs & maintenance: −$1,999
• − Management: −$1,999
• − Depreciation: −$5,350
• Taxable loss: −$950
• Est. tax savings @ 24.0%: +$228
• After-tax cash flow: $2,107/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 · 1 photo

Fair 45/100 Moderate rehab

This single-family home requires moderate renovations, focusing on exterior repairs and maintenance to improve its resale and rental value.

Repairs flagged

• Major Brick siding — Significant weathering
• Major Roof shingles — Aged and likely to leak

Value-add opportunities

• Both Paint exterior walls — Enhances curb appeal and value
• Both Replace roof shingles — Prevents leaks and extends home's lifespan
• Both Repair brick siding — Improves home's appearance and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Brick siding · Significant weathering	Major	$15,000–50,000
Roof shingles · Aged and likely to leak	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Paint exterior walls — Enhances curb appeal and value ↑
• Both Replace roof shingles — Prevents leaks and extends home's lifespan ↑
• Both Repair brick siding — Improves home's appearance and 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: Princeton ISD
• NCES district ID: 4835850
• Math proficiency: 51% ▼ -8.00%
• Reading proficiency: 47% ▬ 0.00%
• Median HH income: $54,827
• Composite: 42.44/100
• National rank: #3226
• State rank: #188 of 826 in TX

Livability — Princeton

• Score: 62/100
• State rank: #969
• US rank: #17215

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Princeton, TX
• County: Collin County · 1,159,394 people
• City population: 34,171
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 34,171
• Household income: $100,037
• Rent vs Own: 23.8% rent · 76.2% own
• Severe rent burden: 368.0

Population outlook (Collin County) Hauer SSP2

• Today (2025): 1,210,074 people
• By 2030: 1,358,201 · +12.2%
• By 2040: 1,654,061 · +36.7%
• By 2050: 1,937,359 · +60.1%
• By 2075: 2,567,039 · +112.1%
• By 2100: 2,952,048 · +144.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 47% Hispanic / Latino 30% Black 17% Two or more races 10% Asian 4% Native American 1%
• Hispanic origin (detail): Mexican 26%
• Common ancestry: Lithuanian 2% Romanian 1% Russian 1%
• Foreign-born: 15% · Canada, China, Mexico
• Languages at home: 70% English-only · Spanish 22% Other Indo-European 2% Other Asian/Pacific 1%

Political lean MEDSL · Collin

• 2024 margin: R (+11.1) · D 43.1% · R 54.3% · Other 2.6%
• 2008→2024 swing: +14.4pp toward D · 2008: -25.6pp · 2024: -11.1pp
• All cycles: 2024: R+11.1 2020: R+4.3 2016: R+17.0 2012: R+31.6 2008: R+25.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -103.99%
• Current HPI: 238.9373
• Rent YoY: ▼ -1.02%
• 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

-40.7% since first listed

8 events — show timeline

• 2026-06-10 Pending — HARMLS
• 2026-05-14 Listed $183,890 HARMLS
• 2026-03-26 Listing Removed — NTREIS
• 2025-06-30 Price Changed $291,000 NTREIS
• 2025-05-10 Price Changed $285,000 NTREIS
• 2025-04-06 Price Changed $305,000 NTREIS
• 2025-03-22 Price Changed $315,000 NTREIS
• 2025-03-21 Listed $310,000 NTREIS

Property tax history

+99.4%/yr

Latest (2025): $5,371 · -2.7% YoY. Source: county tax records.