1128 Shorthorn St · Royse City, TX 75189

$269,990

4 bd · 2.0 ba · 1,865 sqft · SingleFamily · 76 Days on market

Built 2026 Good condition 6,000 sqft lot $145/sqft · 15% below area Est $317k · 15% under $65/mo HOA · 3% of rent ↓ 8% 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 +15.1/30.0
• ARV discount +14.2/15.0
• DSCR +4.6/10.0
• 1% rule +4.5/10.0
• Condition / age +4.0/5.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MLS# 21228356 - Built by Imagination Homes - Ready Now! ~ Imagination Homes proudly introduces The Prelude — a thoughtfully designed, open-concept home featuring 4 spacious bedrooms, 2 bathrooms, and 1,865 sq. ft. of beautifully crafted living space. Each bedroom offers generous dimensions, creating ideal retreats for family, guests, or a dedicated home office. At the center of the home, the large kitchen, dining, and family room seamlessly connect to create a warm and inviting environment perfect for everyday living and effortless entertaining. The chef-inspired kitchen showcases abundant cabinetry, sleek quartz countertops, a large single-bowl sink with an upgraded Moen faucet, a corner walk-in pantry, and a complete suite of GE stainless steel appliances—including a gas range, microwave, and dishwasher. The Primary Suite provides a peaceful escape with a spacious walk-in closet and a luxurious en-suite bath featuring a larger shower, linen shelves, and large walk-in closet. Luxury vinyl plank (LVP) flooring extends through the main living areas and bathrooms, offering durability, warmth, and low-maintenance style. Located in a well-connected community just minutes from Hwy 66, The Prelude offers the perfect blend of convenience and serenity. Don’t miss the opportunity to experience the comfort, quality, and timeless design this home has to offer. Schedule your private tour today!

Key facts

• Open-concept home
• Large walk-in closet
• 6,000 sq ft lot

Tags

• OPEN-CONCEPT HOME
• CHEF-INSPIRED KITCHEN
• CORNER WALK-IN PANTRY
• LUXURIOUS EN-SUITE BATH
• LARGE WALK-IN CLOSET
• LUXURY VINYL PLANK FLOORING

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $270k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $88 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $256k (5.4% below list).
• Recommended offer: $254k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.7% vs local median 4.2% in Royse City — 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 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: schools C-, 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.
• Market conditions: Rents soft (-1.1%/yr); 1288 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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 $2k of loan paydown is wiped out by about $8k 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 76 days — a 6% lower offer ($254k) is reasonable based on typical stale-listing flexibility.

Recommended offer $253,790 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 0.95% ✗
• Cap rate: 6.68%
• Cash-on-cash: 1.39%
• DSCR: 1.06
• GRM: 8.8

CMA / ARV

• ARV (median comp): $317,315
• List price: $269,990
• Delta: -14.91%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3805 Prairie Chapel Rd	0.17mi	4/2.0	1,865 (0%)	1mo	$273,990	$147	91
3740 Prairie Chapel Rd	0.14mi	4/2.0	1,865 (0%)	4mo	$274,990	$147	90
3736 Prairie Chapel Rd	0.13mi	4/2.0	1,962 (+5%)	1mo	$289,990	$148	85
3745 Prairie Chapel Rd	0.16mi	4/2.0	1,962 (+5%)	1mo	$274,990	$140	83
3713 Prairie Chapel Rd	0.15mi	4/2.0	1,962 (+5%)	3mo	$289,990	$148	82
3819 Prairie Chapel Rd	0.19mi	4/2.0	1,962 (+5%)	1mo	$279,990	$143	82
3717 Prairie Chapel Rd	0.15mi	4/2.0	2,083 (+12%)	2mo	$287,990	$138	72
3741 Prairie Chapel Rd	0.16mi	4/2.0	2,083 (+12%)	3mo	$284,990	$137	71
3820 Prairie Chapel Rd	0.17mi	4/2.0	2,083 (+12%)	3mo	$304,990	$146	70
910 Saint Matthew Cir	0.21mi	3/2.5 (-1)	2,131 (+14%)	19mo	$379,000	$178	44

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: -17.6%
• Equity multiple: 0.40×
• Total profit: $-45,567
• Equity at exit: $40,256

10-year hold

• IRR: -17.0%
• Equity multiple: 0.19×
• Total profit: $-61,098
• Equity at exit: $23,344

Cash invested: $75,597 (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: 1288
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,555 high
• Mortgage (P&I): −$1,416
• Tax est. 1.5%: −$337 /mo · $4,050/yr
• Insurance: −$112
• HOA: −$65
• Vacancy / Maint / Mgmt: −$537
• Net cashflow: $88

Break-even live

Break-even rent $2,444

Max offer price $269,990

Occupancy floor 92%

Sensitivity live

Price	-10% $274	-5% $181	+0% $88	+5% $-5	+10% $-99
Rent	-10% $-114	-5% $-13	+0% $88	+5% $189	+10% $290
Rate	-1.0pp $224	-0.5pp $156	base $88	+0.5pp $18	+1.0pp $-53

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: $67,498
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3745 Prairie Chapel Rd Royse City, TX	4.0	2.0	1962	$2,400	$1.22	0d	1	0.15mi
2412 Green River Rd Royse City, TX	4.0	3.5	2547	$2,600	$1.02	0d	1	1.04mi
2420 Green River Rd Royse City, TX	4.0	3.5	2262	$2,700	$1.19	13d	1	1.04mi
2629 Green River Rd Royse City, TX	4.0	3.0	2182	$2,500	$1.15	25d	1	1.08mi
2629 Green River Rd Royse City, TX	4.0	3.0	2182	$2,500	$1.15	0d	1	1.08mi
2413 Spring Side Dr Royse City, TX	4.0	3.0	2164	$2,190	$1.01	44d	1	1.10mi
2717 Green River Rd Royse City, TX	3.0	2.5	1935	$2,199	$1.14	8d	1	1.11mi
2721 Green River Rd Royse City, TX	4.0	3.5	2289	$2,299	$1.00	44d	1	1.12mi
2529 Moser Ln Royse City, TX	4.0	3.0	2174	$2,600	$1.20	0d	1	1.14mi
3109 Leatherwood Ln Royse City, TX	4.0	2.0	1800	$2,295	$1.27	13d	1	1.18mi
3109 Leatherwood Ln Royse City, TX	4.0	2.0	1800	$2,050	$1.14	0d	1	1.18mi
2805 Caroline St Royse City, TX	4.0	3.5	2550	$2,450	$0.96	0d	1	1.20mi
3100 Leatherwood Ln Royse City, TX	4.0	2.5	2544	$2,600	$1.02	11d	1	1.22mi
3032 Leatherwood Ln Royse City, TX	3.0	2.0	1586	$2,100	$1.32	6d	1	1.23mi

HOA detail

• Monthly dues: $65 · $780/yr
• Likely covers: gas

Listing history 16 events

1. 2026-06-18
   days on market $269,990 Active 76 DOM
2. 2026-06-17
   days on market $269,990 Active 75 DOM
3. 2026-06-16
   days on market $269,990 Active 74 DOM
4. 2026-06-15
   days on market $269,990 Active 73 DOM
5. 2026-06-13
   days on market $269,990 Active 71 DOM
6. 2026-06-09
   days on market $269,990 Active 67 DOM
7. 2026-06-08
   days on market $269,990 Active 66 DOM
8. 2026-06-07
   days on market $269,990 Active 65 DOM
9. 2026-06-04
   days on market $269,990 Active 62 DOM
10. 2026-06-03
    days on market $269,990 Active 61 DOM
11. 2026-06-02
    days on market $269,990 Active 60 DOM
12. 2026-06-01
    days on market $269,990 Active 59 DOM
13. 2026-05-31
    days on market $269,990 Active 58 DOM
14. 2026-05-01
    price $269,990 1424-char remark

    Show marketing remark (1424 chars)

    MLS# 21228356 - Built by Imagination Homes - Ready Now! ~ Imagination Homes proudly introduces The Prelude — a thoughtfully designed, open-concept home featuring 4 spacious bedrooms, 2 bathrooms, and 1,865 sq. ft. of beautifully crafted living space. Each bedroom offers generous dimensions, creating ideal retreats for family, guests, or a dedicated home office. At the center of the home, the large kitchen, dining, and family room seamlessly connect to create a warm and inviting environment perfect for everyday living and effortless entertaining. The chef-inspired kitchen showcases abundant cabinetry, sleek quartz countertops, a large single-bowl sink with an upgraded Moen faucet, a corner walk-in pantry, and a complete suite of GE stainless steel appliances—including a gas range, microwave, and dishwasher. The Primary Suite provides a peaceful escape with a spacious walk-in closet and a luxurious en-suite bath featuring a larger shower, linen shelves, and large walk-in closet. Luxury vinyl plank (LVP) flooring extends through the main living areas and bathrooms, offering durability, warmth, and low-maintenance style. Located in a well-connected community just minutes from Hwy 66, The Prelude offers the perfect blend of convenience and serenity. Don’t miss the opportunity to experience the comfort, quality, and timeless design this home has to offer. Schedule your private tour today!

15. 2026-04-24
    price $274,990 1424-char remark

    Show marketing remark (1424 chars)

    MLS# 21228356 - Built by Imagination Homes - Ready Now! ~ Imagination Homes proudly introduces The Prelude — a thoughtfully designed, open-concept home featuring 4 spacious bedrooms, 2 bathrooms, and 1,865 sq. ft. of beautifully crafted living space. Each bedroom offers generous dimensions, creating ideal retreats for family, guests, or a dedicated home office. At the center of the home, the large kitchen, dining, and family room seamlessly connect to create a warm and inviting environment perfect for everyday living and effortless entertaining. The chef-inspired kitchen showcases abundant cabinetry, sleek quartz countertops, a large single-bowl sink with an upgraded Moen faucet, a corner walk-in pantry, and a complete suite of GE stainless steel appliances—including a gas range, microwave, and dishwasher. The Primary Suite provides a peaceful escape with a spacious walk-in closet and a luxurious en-suite bath featuring a larger shower, linen shelves, and large walk-in closet. Luxury vinyl plank (LVP) flooring extends through the main living areas and bathrooms, offering durability, warmth, and low-maintenance style. Located in a well-connected community just minutes from Hwy 66, The Prelude offers the perfect blend of convenience and serenity. Don’t miss the opportunity to experience the comfort, quality, and timeless design this home has to offer. Schedule your private tour today!

16. 2026-04-03
    listed $294,990 Active 1424-char remark

    Show marketing remark (1424 chars)

    MLS# 21228356 - Built by Imagination Homes - Ready Now! ~ Imagination Homes proudly introduces The Prelude — a thoughtfully designed, open-concept home featuring 4 spacious bedrooms, 2 bathrooms, and 1,865 sq. ft. of beautifully crafted living space. Each bedroom offers generous dimensions, creating ideal retreats for family, guests, or a dedicated home office. At the center of the home, the large kitchen, dining, and family room seamlessly connect to create a warm and inviting environment perfect for everyday living and effortless entertaining. The chef-inspired kitchen showcases abundant cabinetry, sleek quartz countertops, a large single-bowl sink with an upgraded Moen faucet, a corner walk-in pantry, and a complete suite of GE stainless steel appliances—including a gas range, microwave, and dishwasher. The Primary Suite provides a peaceful escape with a spacious walk-in closet and a luxurious en-suite bath featuring a larger shower, linen shelves, and large walk-in closet. Luxury vinyl plank (LVP) flooring extends through the main living areas and bathrooms, offering durability, warmth, and low-maintenance style. Located in a well-connected community just minutes from Hwy 66, The Prelude offers the perfect blend of convenience and serenity. Don’t miss the opportunity to experience the comfort, quality, and timeless design this home has to offer. Schedule your private tour today!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $30,663
• − Mortgage interest: −$15,124
• − Property taxes: −$4,050
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,453
• − Management: −$2,453
• − HOA: −$780
• − Depreciation: −$7,854
• Taxable loss: −$3,401
• Est. tax savings @ 24.0%: +$816
• After-tax cash flow: $1,870/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

Good 80/100 Cosmetic rehab

This home is in excellent condition with no visible repairs needed. It is move-in ready and would benefit from minor cosmetic updates to enhance its resale and rental value.

Value-add opportunities

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and adds value
• Both New flooring in bathrooms and kitchen — Improves functionality and aesthetics
• Both New countertops in kitchen — Enhances functionality and aesthetics
• Both New lighting fixtures throughout — Improves functionality and aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both New flooring in bathrooms and kitchen — Improves functionality and aesthetics ↑
• Both New countertops in kitchen — Enhances functionality and aesthetics ↑
• Both New lighting fixtures throughout — Improves functionality and aesthetics ↑

ⓘ 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

• Census place: Royse City, TX
• County: Rockwall County · 132,930 people
• City population: 48,739
• 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 (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 0.57)
• 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 · 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: ▼ -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

-8.5% since first listed

3 events — show timeline

• 2026-05-01 Price Changed $269,990 NTREIS
• 2026-04-24 Price Changed $274,990 NTREIS
• 2026-04-03 Listed $294,990 NTREIS