702 E College Ave · Princeton, TX 75407

$520,000

4 bd · 2.5 ba · 1,710 sqft · MultiFamily public records · 177 Days on market

Built 2014 0.30 ac lot $304/sqft · 110% above area Est $495k · 5% over ↓ 14% 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).

• Cash flow +13.6/30.0
• ARV discount +5.2/15.0
• Schools +4.2/10.0
• DSCR +4.1/10.0
• 1% rule +3.3/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

702 & 704 E College St are adjacent, matching duplex-style assets in Princeton, offering a clean, scalable two-address acquisition for investors or an owner-user looking for flexible use. Each property is recorded at ~1,710 SF and built in 2014, with a functional 4-bed, 2-bath layout and ~0.15-acre lot sizing—ideal for stable rental demand, house-hack potential, or a small portfolio foothold with side-by-side control on the same block. Contact agent as there are additional duplexes for sale in the same subdivision in conjunction with this offering.

Key facts

• 0.3 acre lot
• Garage
• Built 2014

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/2-bath units multifamily listed at $520k.

Deal economics

• At list price, monthly cash flow is $27 ($327/yr) — positive. Per door: $14/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $431k (17.1% below list).
• Recommended offer: $431k (17.1% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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: schools C-, amenities F, commute 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.
• Market conditions: Rents soft (-1.0%/yr); 1404 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 19,194 units permitted in Collin County in 2024 (3,988 in 5+ unit buildings).
• At $4,311/mo this rent would consume 52% of the median local household income ($100k/yr) (locally 368% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k 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 177 days — a 12% lower offer ($458k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $431,100 (17.1% below list)

Questions for the listing agent

1. It's been on market 177 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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 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: 0.83% ✗
• Cap rate: 6.36%
• Cash-on-cash: 0.22%
• DSCR: 1.01
• GRM: 10.1

CMA / ARV

• ARV (median comp): $495,092
• List price: $520,000
• Delta: 5.03%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
740 Prairie Creek Dr	0.60mi	4/2.0	1,874 (+10%)	10mo	$360,000	$192	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: -19.2%
• Equity multiple: 0.35×
• Total profit: $-95,230
• Equity at exit: $77,534

10-year hold

• IRR: -19.1%
• Equity multiple: 0.11×
• Total profit: $-129,790
• Equity at exit: $44,960

Cash invested: $145,600 (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: 20.1×

Monthly cashflow live

• Estimated rent: $4,311 high
• Mortgage (P&I): −$2,727
• Tax from tax record: −$435 /mo · $5,218/yr
• Insurance: −$217
• HOA: −$0
• Vacancy / Maint / Mgmt: −$905
• Net cashflow: $27

Break-even live

Break-even rent $4,277

Max offer price $520,000

Occupancy floor 94%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	4	2	$4,312
Total (2 units)			$4,311

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: $130,000
• Closing costs: $15,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
704 E College St Princeton, TX	4.0	2.0	1710	$1,575	$0.92	43d	1	0.03mi
806 Parkplace Rdg Princeton, TX	4.0	2.5	1600	$1,500	$0.94	18d	1	0.14mi
812 Parkplace Rdg Princeton, TX	4.0	2.5	1514	$1,575	$1.04	12d	1	0.16mi
819 Parkplace Rdg Princeton, TX	3.0	2.5	1669	$1,700	$1.02	43d	1	0.18mi
1001 Weiss Ave Princeton, TX	3.0	2.0	1209	$1,595	$1.32	43d	1	0.21mi
912 N 4th St Princeton, TX	4.0	2.0	1448	$2,249	$1.55	12d	1	0.21mi
837 E College St Princeton, TX	4.0	2.5	1575	$1,500	$0.95	43d	1	0.21mi
1008 N 4th St Princeton, TX	3.0	2.0	1245	$1,776	$1.43	5d	1	0.22mi
604 Princeton Hts Princeton, TX	3.0–5.0	2.0–2.5	1882	$2,348	$1.25	1d	1	0.22mi
600 Jefferson Ave Princeton, TX	3.0	2.0	1300	$1,800	$1.38	18d	1	0.25mi
907 Princeton Hts Princeton, TX	3.0	2.5	1627	$1,995	$1.23	24d	1	0.26mi
804 Princeton Hts Princeton, TX	3.0	2.5	2232	$2,225	$1.00	5d	1	0.26mi
1106 Parkway Trl Princeton, TX	3.0	2.5	1404	$1,500	$1.07	43d	1	0.27mi
1106 Princeton Hts Princeton, TX	3.0	2.0	1399	$1,795	$1.28	1d	1	0.35mi
1206 Dye Blvd Princeton, TX	4.0	6.0	1845	$2,199	$1.19	43d	1	0.37mi
1210 Bullock Dr Princeton, TX	3.0	3.0	1627	$1,850	$1.14	43d	1	0.39mi
1215 Bullock Dr Princeton, TX	4.0	2.5	1836	$2,095	$1.14	43d	1	0.40mi
1211 Princeton Hts Princeton, TX	3.0	2.0	1401	$1,770	$1.26	17d	1	0.40mi
1211 Princeton Hts Princeton, TX	3.0	2.0	1401	$1,995	$1.42	43d	1	0.40mi
1104 Witherspoon Ln Princeton, TX	4.0	3.0	1845	$2,200	$1.19	43d	1	0.43mi
1105 Butler Ave Princeton, TX	3.0	2.0	1399	$1,749	$1.25	16d	1	0.44mi
228 N 4th St Princeton, TX	3.0	2.0	1466	$1,450	$0.99	43d	1	0.47mi
1414 Windermere Way Princeton, TX	3.0	2.5	1635	$1,995	$1.22	20d	1	0.48mi
1421 Butler Ave Princeton, TX	3.0	2.5	2225	$1,999	$0.90	24d	1	0.50mi
1605 Fox DR Princeton, TX	3.0	2.0	1435	$2,208	$1.54	1d	11	0.54mi
712 Prairie Creek Dr Princeton, TX	4.0	3.0	2049	$2,350	$1.15	43d	1	0.54mi
236 Cr-454 Princeton, TX	3.0	2.5	1680	$2,025	$1.21	3d	1	0.59mi
100 E Brown St Princeton, TX	3.0	1.0	1196	$2,870	$2.40	1d	1	0.62mi
101 Teakwood Dr Princeton, TX	4.0	2.0	1812	$2,000	$1.10	22d	1	0.69mi
1710 Washington St Princeton, TX	3.0	2.0	1437	$1,770	$1.23	1d	1	0.73mi
406 Kingsbury Ave Princeton, TX	3.0	2.0	1810	$2,095	$1.16	43d	1	0.74mi
514 Virginia Way Princeton, TX	4.0	2.0	1980	$2,200	$1.11	4d	1	0.74mi
512 Virginia Way Princeton, TX	3.0	2.5	2133	$2,150	$1.01	24d	1	0.74mi
508 Virginia Way Princeton, TX	4.0	2.0	1900	$2,200	$1.16	12d	1	0.75mi
1702 Chapel Hill Rd Princeton, TX	4.0	2.5	2121	$1,995	$0.94	7d	1	0.76mi
1709 Chapel Hill Rd Princeton, TX	3.0	2.5	1633	$1,695	$1.04	43d	1	0.76mi
1802 Washington St Princeton, TX	3.0	2.5	1920	$1,950	$1.02	24d	1	0.76mi
512 E Hazelwood St Unit A Princeton, TX	3.0	2.0	1295	$1,349	$1.04	43d	1	0.76mi
1805 Washington St Princeton, TX	3.0	2.0	1437	$1,775	$1.24	43d	1	0.76mi
625 Delaware Ave Princeton, TX	3.0	2.5	1920	$2,000	$1.04	2d	1	0.76mi

Listing history 18 events

1. 2026-06-18
   days on market $520,000 Active 177 DOM
2. 2026-06-17
   days on market $520,000 Active 176 DOM
3. 2026-06-16
   days on market $520,000 Active 175 DOM
4. 2026-06-15
   days on market $520,000 Active 174 DOM
5. 2026-06-13
   days on market $520,000 Active 172 DOM
6. 2026-06-13
   days on market $520,000 Active 171 DOM
7. 2026-06-09
   days on market $520,000 Active 168 DOM
8. 2026-06-08
   days on market $520,000 Active 167 DOM
9. 2026-06-07
   days on market $520,000 Active 166 DOM
10. 2026-06-04
    days on market $520,000 Active 163 DOM
11. 2026-06-03
    days on market $520,000 Active 162 DOM
12. 2026-06-02
    days on market $520,000 Active 161 DOM
13. 2026-06-01
    days on market $520,000 Active 160 DOM
14. 2026-05-31
    days on market $520,000 Active 159 DOM
15. 2026-04-30
    price $520,000 564-char remark

    Show marketing remark (564 chars)

    702 & 704 E College St are adjacent, matching duplex-style assets in Princeton, offering a clean, scalable two-address acquisition for investors or an owner-user looking for flexible use. Each property is recorded at ~1,710 SF and built in 2014, with a functional 4-bed, 2-bath layout and ~0.15-acre lot sizing—ideal for stable rental demand, house-hack potential, or a small portfolio foothold with side-by-side control on the same block. Contact agent as there are additional duplexes for sale in the same subdivision in conjunction with this offering.

16. 2026-02-13
    price $538,821 564-char remark

    Show marketing remark (564 chars)

    702 & 704 E College St are adjacent, matching duplex-style assets in Princeton, offering a clean, scalable two-address acquisition for investors or an owner-user looking for flexible use. Each property is recorded at ~1,710 SF and built in 2014, with a functional 4-bed, 2-bath layout and ~0.15-acre lot sizing—ideal for stable rental demand, house-hack potential, or a small portfolio foothold with side-by-side control on the same block. Contact agent as there are additional duplexes for sale in the same subdivision in conjunction with this offering.

17. 2025-12-23
    listed $602,878 Active 564-char remark

    Show marketing remark (564 chars)

    702 & 704 E College St are adjacent, matching duplex-style assets in Princeton, offering a clean, scalable two-address acquisition for investors or an owner-user looking for flexible use. Each property is recorded at ~1,710 SF and built in 2014, with a functional 4-bed, 2-bath layout and ~0.15-acre lot sizing—ideal for stable rental demand, house-hack potential, or a small portfolio foothold with side-by-side control on the same block. Contact agent as there are additional duplexes for sale in the same subdivision in conjunction with this offering.

18. 2023-07-15
    historical

ⓘ 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: $5,218 · $435/mo
• Projected year-2 tax: $9,516 · $793/mo
• Expected delta: +$4,298/yr (+$358/mo · 82.4%)

ⓘ 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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°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: $51,732
• − Mortgage interest: −$29,128
• − Property taxes: −$5,218
• − Insurance: −$2,600
• − Repairs & maintenance: −$4,139
• − Management: −$4,139
• − Depreciation: −$15,127
• Taxable loss: −$8,619
• Est. tax savings @ 24.0%: +$2,069
• After-tax cash flow: $2,395/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: 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

-13.7% since first listed

4 events — show timeline

• 2026-04-30 Price Changed $520,000 NTREIS
• 2026-02-13 Price Changed $538,821 NTREIS
• 2025-12-23 Listed $602,878 NTREIS
• 2023-07-15 Rental Removed — NTREIS

Property tax history

+33.3%/yr

Latest (2025): $5,218 · -11.1% YoY. Source: county tax records.