204 N Greenville Rd · Josephine, TX 75173

$134,900

3 bd · 2.0 ba · 1,652 sqft · SingleFamily public records · 127 Days on market

Built 1955 0.44 ac lot $82/sqft · 60% below area

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Why this score? — see what drove the B+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.2/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Excellent opportunity awaits in Josephine, situated on a spacious .44-acre lot! This charming country-style home offers over 1,650 square feet of living space with 3 bedrooms, 2 full bathrooms, and an open-concept floorplan designed for comfortable living. Enjoy relaxing mornings on the covered front porch and take advantage of the expansive backyard with plenty of room to spread out, entertain, garden, or create your own outdoor retreat. With endless potential and room to grow, this property is a rare find in a growing area within Collin County. Don’t miss out on this exceptional opportunity!

Key facts

• Covered front porch
• Spacious lot
• Expansive backyard

Tags

• SPACIOUS LOT
• COVERED FRONT PORCH
• EXPANSIVE BACKYARD
• OPEN-CONCEPT FLOORPLAN

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $557 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 4.4% in Josephine — 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 60/100 on livability (#1,076 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools F, amenities F, commute F.
• Community ISD (rural): math 30% / reading 38% proficiency, ranked #479 of 826 in TX (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 421 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); 19,194 units permitted in Collin County in 2024 (3,988 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($933 loan paydown + $13k appreciation (10.0% local appreciation)).
• Collin County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 127 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 10y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 127 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.54% ✓
• Cap rate: 11.25%
• Cash-on-cash: 17.70%
• DSCR: 1.79
• GRM: 5.4

CMA / ARV

• ARV (median comp): $339,144
• List price: $134,900
• Delta: -60.22%
• 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
104 Milton St	0.26mi	4/2.0 (+1)	1,604 (-3%)	7mo	$247,500	$154	72
214 Pennington Rd	0.50mi	3/2.0	1,740 (+5%)	0mo	$339,900	$195	68
1208 Sugar Pine Dr	0.52mi	4/2.0 (+1)	1,655 (+0%)	13mo	$287,990	$174	60
504 Flora Ct	0.59mi	4/2.0 (+1)	1,720 (+4%)	2mo	$329,900	$192	60
315 Pennington Rd	0.59mi	3/2.0	1,740 (+5%)	6mo	$339,900	$195	58
201 East St	0.27mi	4/2.0 (+1)	1,860 (+13%)	11mo	$374,999	$202	53
314 Fountain View Ln	0.63mi	3/2.0	1,755 (+6%)	12mo	$278,000	$158	50
314 Mercer Dr	0.42mi	3/2.0	1,873 (+13%)	11mo	$349,990	$187	49
507 Fountain View Ln	0.74mi	4/2.0 (+1)	1,621 (-2%)	12mo	$257,000	$159	47
1200 Sugar Pine Dr	0.52mi	4/2.0 (+1)	1,801 (+9%)	13mo	$295,990	$164	45
1202 Sugar Pine Dr	0.52mi	3/2.0	1,404 (-15%)	12mo	$266,990	$190	40
1214 Sugar Pine Dr	0.52mi	3/2.0	1,404 (-15%)	13mo	$280,990	$200	40

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 37.5%
• Equity multiple: 3.89×
• Total profit: $109,083
• Equity at exit: $121,529

10-year hold

• IRR: 32.3%
• Equity multiple: 8.77×
• Total profit: $293,565
• Equity at exit: $262,081

Cash invested: $37,772 (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 75173

• Home prices YoY: 3.1%
• Active inventory: 421
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,073 high
• Mortgage (P&I): −$707
• Tax from tax record: −$317 /mo · $3,800/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $557

Break-even live

Break-even rent $1,367

Max offer price $134,900

Occupancy floor 68%

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
464 N Greenville St Farmersville, TX	3.0	2.0	2000	$3,000	$1.50	1d	1	0.29mi
306 E Cook St Josephine, TX	3.0	2.0	1817	$2,100	$1.16	1d	1	0.62mi
315 Pine Hollow Way Josephine, TX	4.0	3.0	2212	$2,300	$1.04	7d	1	0.85mi
319 Plum Dr Nevada, TX	4.0	2.0	1587	$1,899	$1.20	10d	1	0.97mi
802 Turnbuckle Ct Royse City, TX	4.0	2.0	1577	$1,849	$1.17	43d	1	0.99mi
722 Windmill St Josephine, TX	4.0	2.0	1568	$2,190	$1.40	1d	1	1.00mi
1413 Brook Ln Caddo Mills, TX	4.0	2.0	1572	$1,925	$1.22	10d	1	1.02mi
1413 Brook Ln Caddo Mills, TX	4.0	2.0	1572	$1,925	$1.22	12d	1	1.02mi
800 Windmill St Josephine, TX	4.0	2.0	1843	$2,100	$1.14	7d	1	1.03mi
801 Meadow Creek Ln Josephine, TX	4.0	2.0	1757	$2,500	$1.42	4d	1	1.03mi
6135 FM 547 Farmersville, TX	4.0	2.5	1771	$2,295	$1.30	24d	1	1.04mi
717 Cottonwood WAY Josephine, TX	4.0	3.0	2073	$2,125	$1.03	1d	1	1.06mi
601 Barlow Dr Caddo Mills, TX	4.0	3.0	2090	$2,075	$0.99	43d	1	1.07mi
1144 Northfield Dr Caddo Mills, TX	3.0	2.0	1156	$1,700	$1.47	10d	1	1.11mi
1144 Northfield Dr Caddo Mills, TX	3.0	2.0	1156	$1,700	$1.47	1d	1	1.11mi
1141 Northfield Dr Caddo Mills, TX	3.0	2.0	1280	$1,725	$1.35	43d	1	1.11mi
1157 Northfield Dr Caddo Mills, TX	3.0	2.0	1156	$1,700	$1.47	1d	1	1.14mi
1157 Northfield Dr Caddo Mills, TX	3.0	2.0	1156	$1,700	$1.47	12d	1	1.14mi
1157 Northfield Dr Caddo Mills, TX	3.0	2.0	1156	$1,700	$1.47	15d	1	1.14mi
1164 Northfield Dr Caddo Mills, TX	3.0	2.0	1156	$1,700	$1.47	10d	1	1.15mi
1164 Northfield Dr Caddo Mills, TX	3.0	2.0	1156	$1,700	$1.47	1d	1	1.15mi
1165 Northfield Dr Caddo Mills, TX	3.0	2.0	1280	$1,595	$1.25	10d	1	1.15mi
304 Red Stream Way Caddo Mills, TX	3.0	2.0	1476	$1,800	$1.22	18d	1	1.16mi
1177 Northfield Dr Caddo Mills, TX	3.0	2.0	1156	$1,700	$1.47	43d	1	1.18mi
311 Milo Way Royse City, TX	4.0	2.0	2074	$2,200	$1.06	6d	1	1.18mi
1208 Riverbrook Ln Caddo Mills, TX	4.0	3.0	2088	$2,095	$1.00	43d	1	1.20mi
1216 Riverbrook Ln Caddo Mills, TX	3.0	2.0	1617	$2,000	$1.24	1d	1	1.22mi
305 Silo Cir Royse City, TX	4.0	2.0	2074	$2,100	$1.01	24d	1	1.22mi
305 Charmed Way Caddo Mills, TX	3.0	2.0	1481	$2,000	$1.35	1d	1	1.24mi
1004 Cotton Gin Ct Royse City, TX	4.0	2.0	1875	$1,850	$0.99	12d	1	1.25mi
1007 Cotton Gin Ct Royse City, TX	3.0	2.0	1611	$2,050	$1.27	43d	1	1.28mi
504 Saddle Blanket Dr Nevada, TX	4.0	2.0	1649	$1,925	$1.17	6d	1	1.41mi
504 Saddle Blanket Dr Nevada, TX	4.0	2.0	1649	$1,949	$1.18	15d	1	1.41mi
214 Crooked Field Dr Royse City, TX	3.0	2.0	1398	$1,900	$1.36	24d	1	1.42mi
503 Saddle Blanket Dr Nevada, TX	4.0	3.0	2077	$2,190	$1.05	43d	1	1.44mi

Listing history 38 events

1. 2026-06-18
   days on market $134,900 Active 127 DOM
2. 2026-06-17
   days on market $134,900 Active 126 DOM
3. 2026-06-16
   days on market $134,900 Active 125 DOM
4. 2026-06-15
   days on market $134,900 Active 124 DOM
5. 2026-06-13
   days on market $134,900 Active 122 DOM
6. 2026-06-13
   days on market $134,900 Active 121 DOM
7. 2026-06-09
   days on market $134,900 Active 118 DOM
8. 2026-06-08
   days on market $134,900 Active 117 DOM
9. 2026-06-07
   days on market $134,900 Active 116 DOM
10. 2026-06-04
    days on market $134,900 Active 113 DOM
11. 2026-06-03
    days on market $134,900 Active 112 DOM
12. 2026-06-02
    days on market $134,900 Active 111 DOM
13. 2026-06-01
    days on market $134,900 Active 110 DOM
14. 2026-05-31
    days on market $134,900 Active 109 DOM
15. 2026-04-21
    price $134,900 606-char remark

    Show marketing remark (606 chars)

    Excellent opportunity awaits in Josephine, situated on a spacious .44-acre lot! This charming country-style home offers over 1,650 square feet of living space with 3 bedrooms, 2 full bathrooms, and an open-concept floorplan designed for comfortable living. Enjoy relaxing mornings on the covered front porch and take advantage of the expansive backyard with plenty of room to spread out, entertain, garden, or create your own outdoor retreat. With endless potential and room to grow, this property is a rare find in a growing area within Collin County. Don’t miss out on this exceptional opportunity!

16. 2026-03-18
    price $144,900 606-char remark

    Show marketing remark (606 chars)

    Excellent opportunity awaits in Josephine, situated on a spacious .44-acre lot! This charming country-style home offers over 1,650 square feet of living space with 3 bedrooms, 2 full bathrooms, and an open-concept floorplan designed for comfortable living. Enjoy relaxing mornings on the covered front porch and take advantage of the expansive backyard with plenty of room to spread out, entertain, garden, or create your own outdoor retreat. With endless potential and room to grow, this property is a rare find in a growing area within Collin County. Don’t miss out on this exceptional opportunity!

17. 2026-02-09
    listed $149,900 Active 606-char remark

    Show marketing remark (606 chars)

    Excellent opportunity awaits in Josephine, situated on a spacious .44-acre lot! This charming country-style home offers over 1,650 square feet of living space with 3 bedrooms, 2 full bathrooms, and an open-concept floorplan designed for comfortable living. Enjoy relaxing mornings on the covered front porch and take advantage of the expansive backyard with plenty of room to spread out, entertain, garden, or create your own outdoor retreat. With endless potential and room to grow, this property is a rare find in a growing area within Collin County. Don’t miss out on this exceptional opportunity!

18. 2024-04-29
    soldstatus
19. 2024-03-22
    historical $1,625
20. 2024-03-05
    price $1,625
21. 2024-02-24
    price $1,675
22. 2024-02-14
    price $1,725
23. 2024-01-23
    listed $1,775
24. 2023-12-22
    historical
25. 2023-12-13
    listed $131,000 Active
26. 2023-12-08
    historical $1,775
27. 2023-11-28
    price $1,775
28. 2023-11-08
    price $1,799
29. 2023-10-24
    listed $1,825
30. 2016-04-26
    soldstatus
31. 2016-04-19
    soldstatus Sold
32. 2016-04-12
    price $45,000
33. 2016-04-11
    soldstatus
34. 2016-04-09
    listed $50,000 Active
35. 2014-12-19
    soldstatus
36. 1999-03-02
    soldstatus
37. 1998-05-01
    soldstatus
38. 1998-04-07
    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: $3,800 · $317/mo
• Projected year-2 tax: $3,800 · $317/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 · 22 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: $24,873
• − Mortgage interest: −$7,556
• − Property taxes: −$3,800
• − Insurance: −$674
• − Repairs & maintenance: −$1,990
• − Management: −$1,990
• − Depreciation: −$3,924
• Taxable income: $4,939
• Est. tax owed @ 24.0%: −$1,185
• After-tax cash flow: $5,502/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: Community ISD
• NCES district ID: 4814850
• Math proficiency: 30% ▼ -23.00%
• Reading proficiency: 38% ▼ -11.00%
• Median HH income: $71,841
• Composite: 31.58/100
• National rank: #5951
• State rank: #479 of 826 in TX

Livability — Josephine

• Score: 60/100
• State rank: #1076
• US rank: #19105

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Josephine, TX
• Population (ZIP): 9,284

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 28% Two or more races 15% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 26%
• Common ancestry: Slovak 2% Serbian 1% Iranian 1%
• Foreign-born: 17% · Canada, Jamaica
• Languages at home: 74% English-only · Spanish 24% Arabic 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: ▲ 10.09%
• Current HPI: 331.12
• Rent YoY: —
• Metro: —
• 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

+169.8% since first listed

24 events — show timeline

• 2026-04-21 Price Changed $134,900 NTREIS
• 2026-03-18 Price Changed $144,900 NTREIS
• 2026-02-09 Listed $149,900 NTREIS
• 2024-04-29 Sold (Public Records) — Public Records
• 2024-03-22 Rental Removed $1,625 NTREIS
• 2024-03-05 Price Changed $1,625 NTREIS
• 2024-02-24 Price Changed $1,675 NTREIS
• 2024-02-14 Price Changed $1,725 NTREIS
• 2024-01-23 Listed for Rent $1,775 NTREIS
• 2023-12-22 Listing Removed — NTREIS
• 2023-12-13 Listed $131,000 NTREIS
• 2023-12-08 Rental Removed $1,775 NTREIS
• 2023-11-28 Price Changed $1,775 NTREIS
• 2023-11-08 Price Changed $1,799 NTREIS
• 2023-10-24 Listed for Rent $1,825 NTREIS
• 2016-04-26 Sold (Public Records) — Public Records
• 2016-04-19 Sold (MLS) — NTREIS
• 2016-04-12 Price Changed $45,000 NTREIS
• 2016-04-11 Sold (Public Records) — Public Records
• 2016-04-09 Listed $50,000 NTREIS
• 2014-12-19 Sold (Public Records) — Public Records
• 1999-03-02 Sold (Public Records) — Public Records
• 1998-05-01 Sold (Public Records) — Public Records
• 1998-04-07 Sold (Public Records) — Public Records

Property tax history

+7.3%/yr

Latest (2025): $3,800 · +30.5% YoY. Source: county tax records.