505 Green Grass Dr · Princeton, TX 75071

$275,990

3 bd · 2.0 ba · 1,504 sqft · SingleFamily · 14 Days on market

Built 2025 Excellent condition 4,600 sqft lot $184/sqft · at area comps Est $281k · at est. $68/mo HOA · 3% of rent

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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 +11.0/30.0
• ARV discount +8.3/15.0
• Schools +5.0/10.0
• Condition / age +4.8/5.0
• 1% rule +3.5/10.0
• DSCR +3.2/10.0
• Livability +3.1/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks

MLS# 21264999 - Built by Trophy Signature Homes - Jun 2026 completion! ~ Put down roots in the elegant Cedar. The single-story floor plan feels spacious and welcoming with a lofty foyer and cheery great room. Put tiny artists to work drawing the lush trees dotting your backyard while you put the finishing touches on turkey sandwiches. Cutting them into kite shapes was an inspired idea. They can eat at the beautiful kitchen island before going out to play on the patio. At the end of the day, they can bed down in the secondary bedrooms while you take a warm shower in your lavish primary suite.

Key facts

• 4,600 sq ft lot
• 2 garage spots
• Community pool

Property features AI

Finance

• Other: Community amenities: club house, community pool, fitness center, greenbelt, jogging/bike path, park, playground, sidewalks
• HOA & community: Mandatory association; Annual association fee; Association covers grounds maintenance and management fees; HOA managed by Neighborhood Management, Inc

Exterior

• Parking: Attached 2-car garage with single 2-car door; Garage faces front; Garage door opener; 2 covered parking spaces
• Security: Prewired security; Smoke detector(s); Carbon monoxide detector(s)
• Utilities: City water; City sewer; Curbs and sidewalks; Community mailbox
• Home design: Single family residence; Residential property; New construction (incomplete, 2025); Property not attached; Planned development: Eastridge
• Construction: Brick, rock/stone, and siding exterior; Composition roof; Slab foundation; Smart home features present
• Exterior features: Private yard; Gutters; Exterior lighting; Wood fencing in back yard

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Pantry; Tankless water heater
• Bedrooms: 3 bedrooms (all on main level); Primary bedroom on main level
• Flooring: Carpet; Luxury vinyl plank; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Open floorplan; Pantry; Walk-in closet(s); Cable TV available; High-speed internet available; One living area; One dining area; Room count: 6; Levels: One
• Laundry & utility: Full-size washer/dryer area; Washer hookup; Electric dryer hookup; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $276k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-118 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $259k (6.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $235k (14.8% below list).
• Recommended offer: $235k (14.8% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 4.5% in Princeton — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• Mckinney ISD (suburban): math 54% / reading 58% proficiency, ranked #72 of 826 in TX (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Webb El (math 32% / reading 37%, grade F, #1,995 of 4,322 statewide, top 50%, 355 students, 68% FRL) — zoned schools average 68% FRL vs 28% district-wide (40 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 34% at this address vs 56% district-wide (-22 pts) — the specific schools serving this property underperform the Mckinney ISD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-2.1%/yr); 2161 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 6→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $235,130 (14.8% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.85% ✗
• Cap rate: 5.78%
• Cash-on-cash: -1.83%
• DSCR: 0.92
• GRM: 9.8

CMA / ARV

• ARV (median comp): $281,148
• List price: $275,990
• Delta: -1.83%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
516 Towerglen Dr	0.07mi	3/2.0	1,504 (0%)	1mo	$277,490	$185	96
519 Towerglen Dr	0.09mi	3/2.0	1,504 (0%)	0mo	$274,990	$183	95
520 Towerglen Dr	0.08mi	3/2.0	1,335 (-11%)	1mo	$269,990	$202	76
1120 Old Stead Dr	0.67mi	3/2.0	1,551 (+3%)	1mo	$298,865	$193	63
1126 Old Stead Dr	0.69mi	3/2.0	1,551 (+3%)	0mo	$301,525	$194	62
1201 Bridgewalk Dr	0.70mi	3/2.0	1,551 (+3%)	0mo	$287,655	$185	62
5903 Belchamp Dr	0.69mi	3/2.0	1,551 (+3%)	1mo	$300,525	$194	62
6006 Belchamp Dr	0.73mi	3/2.0	1,551 (+3%)	0mo	$298,025	$192	60
1215 Bridgewalk Dr	0.75mi	3/2.0	1,551 (+3%)	1mo	$309,625	$200	59
6002 Belchamp Dr	0.73mi	4/2.0 (+1)	1,605 (+7%)	1mo	$313,578	$195	49
1130 Old Stead Dr	0.71mi	3/2.0	1,318 (-12%)	0mo	$285,397	$217	46
6004 Belchamp Dr	0.73mi	3/2.0	1,318 (-12%)	1mo	$281,257	$213	45

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: -22.8%
• Equity multiple: 0.24×
• Total profit: $-59,037
• Equity at exit: $41,151

10-year hold

• IRR: -28.2%
• Equity multiple: -0.13×
• Total profit: $-87,384
• Equity at exit: $23,863

Cash invested: $77,277 (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 75071

• Home prices YoY: -19.1%
• Rents YoY: -2.1%
• Active inventory: 2161
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,351 high
• Mortgage (P&I): −$1,447
• Tax est. 1.5%: −$345 /mo · $4,140/yr
• Insurance: −$115
• HOA: −$68
• Vacancy / Maint / Mgmt: −$494
• Net cashflow: $-118

Break-even live

Break-even rent $2,500

Max offer price $258,947

Occupancy floor —

Sensitivity live

Price	-10% $73	-5% $-22	+0% $-118	+5% $-213	+10% $-309
Rent	-10% $-304	-5% $-211	+0% $-118	+5% $-25	+10% $68
Rate	-1.0pp $21	-0.5pp $-48	base $-118	+0.5pp $-189	+1.0pp $-262

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: $68,998
• Closing costs: $8,280
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5611 Chasewood Dr McKinney, TX	4.0	2.5	2055	$2,500	$1.22	44d	1	0.02mi
506 Towerglen Dr McKinney, TX	3.0	2.0	1503	$2,100	$1.40	44d	1	0.05mi
517 Green Grass Dr McKinney, TX	4.0	2.5	2071	$2,400	$1.16	8d	1	0.06mi
514 Green Grass Dr McKinney, TX	3.0	2.0	1504	$2,300	$1.53	5d	1	0.06mi
519 Green Grass Dr McKinney, TX	3.0	2.0	1450	$2,250	$1.55	0d	1	0.07mi
607 Clover Creek Dr McKinney, TX	3.0	2.0	1551	$2,300	$1.48	12d	1	0.12mi
600 Clover Creek Dr McKinney, TX	3.0	2.0	1533	$2,500	$1.63	0d	1	0.12mi
610 Clover Creek Dr Unit 610 McKinney, TX	3.0	2.0	1533	$2,250	$1.47	44d	1	0.14mi
617 Marigold Hill Way McKinney, TX	4.0	3.0	2131	$2,400	$1.13	44d	1	0.15mi
712 Melody Hill Dr McKinney, TX	4.0	3.0	2040	$2,495	$1.22	8d	1	0.25mi
704 Summerberry Dr McKinney, TX	4.0	2.0	1818	$2,700	$1.49	0d	1	0.27mi
700 London Town Ln McKinney, TX	4.0	3.0	2059	$2,600	$1.26	44d	1	0.37mi
905 Honeydew Ln McKinney, TX	3.0	2.0	2002	$2,300	$1.15	45d	1	0.40mi
421 Bertney Dr McKinney, TX	3.0	2.0	1500	$2,200	$1.47	44d	1	0.42mi
507 Mossy Oak Dr McKinney, TX	3.0	2.0	1952	$1,995	$1.02	44d	1	0.43mi
4330 FM 75 Princeton, TX	4.0	2.0	1832	$2,200	$1.20	11d	1	0.45mi
114 Mountain Meadow Ln McKinney, TX	3.0	2.0	1475	$2,300	$1.56	44d	1	0.45mi
108 Mountain Meadow Ln McKinney, TX	3.0	2.0	1566	$2,200	$1.40	44d	1	0.46mi
307 Bertney Dr McKinney, TX	4.0	3.0	1968	$2,200	$1.12	44d	1	0.49mi
5011 Bellhurst Dr McKinney, TX	4.0	2.5	2097	$2,550	$1.22	20d	1	0.49mi
712 Leavenworth Dr McKinney, TX	4.0	2.5	2055	$2,350	$1.14	44d	1	0.51mi
1004 Knox River Dr McKinney, TX	3.0	2.0	1609	$1,999	$1.24	13d	1	0.52mi
1004 Knox River Dr McKinney, TX	3.0	2.0	1609	$1,999	$1.24	8d	1	0.52mi
808 Leavenworth Dr McKinney, TX	4.0	2.0	1605	$3,300	$2.06	18d	1	0.53mi
601 Huntley Dr McKinney, TX	4.0	3.0	2077	$2,800	$1.35	44d	1	0.54mi
715 Dotty Dr McKinney, TX	3.0	2.0	1318	$2,200	$1.67	25d	1	0.54mi
801 Dotty Dr McKinney, TX	3.0	2.5	1948	$2,300	$1.18	25d	1	0.55mi
4923 Bellhurst Dr McKinney, TX	3.0	2.0	1992	$2,495	$1.25	0d	1	0.55mi
4908 Pebblewood Dr McKinney, TX	4.0	2.0	1818	$2,595	$1.43	3d	1	0.55mi
704 Dotty Dr McKinney, TX	4.0	2.5	2055	$2,435	$1.18	8d	1	0.57mi
4808 Grandiose Dr McKinney, TX	3.0	3.0	2117	$2,650	$1.25	44d	1	0.57mi
4712 Hunter Hurst Dr McKinney, TX	4.0	3.0	2021	$2,400	$1.19	44d	1	0.61mi
206 Goosewood Dr McKinney, TX	3.0	2.0	1566	$2,300	$1.47	19d	1	0.68mi
1209 Bridgewalk Dr McKinney, TX	3.0	2.0	1551	$2,299	$1.48	6d	1	0.75mi
1209 Bridgewalk Dr McKinney, TX	3.0	2.0	1551	$2,350	$1.52	25d	1	0.75mi
1211 Bridgewalk Dr McKinney, TX	4.0	2.0	1605	$2,500	$1.56	25d	1	0.75mi
1402 Bridgestone Dr McKinney, TX	4.0	2.5	2055	$2,290	$1.11	5d	1	0.96mi
1409 Winters Way McKinney, TX	4.0	2.5	2125	$3,100	$1.46	0d	1	1.02mi
3906 Walmer WAY McKinney, TX	3.0	2.0	1318	$1,950	$1.48	44d	1	1.15mi
106 Travine Dr McKinney, TX	3.0	2.0	1600	$2,100	$1.31	44d	1	1.18mi

HOA detail

• Monthly dues: $68 · $816/yr

Listing history 2 events

1. 2026-05-08
   listed $275,990 Active 598-char remark
2. 2026-05-08
   listed $275,990 Active 525-char remark

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 6 d/yr ≥110°F today · 19 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: $28,216
• − Mortgage interest: −$15,460
• − Property taxes: −$4,140
• − Insurance: −$1,380
• − Repairs & maintenance: −$2,257
• − Management: −$2,257
• − HOA: −$816
• − Depreciation: −$8,029
• Taxable loss: −$6,123
• Est. tax savings @ 24.0%: +$1,470
• After-tax cash flow: $56/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 · 30 photos

Excellent 95/100 None rehab

This single-family home is in excellent condition with modern finishes and a well-maintained exterior. It is move-in ready and would benefit from minor updates to enhance its curb appeal and value.

Value-add opportunities

• Resale Painting the exterior siding — Fresh paint can enhance curb appeal and property value.
• Resale Landscaping improvements — Enhanced landscaping can attract more potential buyers.
• Both Adding smart home features — Smart home features can increase both resale and rental value by making the home more convenient and energy-efficient.

Renovation cost estimate screening

Value-add ROI direction

• Resale Painting the exterior siding — Fresh paint can enhance curb appeal and property value. ↑
• Resale Landscaping improvements — Enhanced landscaping can attract more potential buyers. ↑
• Both Adding smart home features — Smart home features can increase both resale and rental value by making the home more convenient and energy-efficient. ↑

ⓘ 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: Mckinney ISD
• NCES district ID: 4829850
• Math proficiency: 54% ▼ -9.00%
• Reading proficiency: 58% ▼ -2.00%
• Median HH income: $78,283
• Composite: 50.46/100
• National rank: #1862
• State rank: #72 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

• County: Collin County · 1,159,394 people
• City population: 34,171
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 72,964
• Household income: $132,447
• Rent vs Own: 25.7% rent · 74.3% own
• Severe rent burden: 1682.0

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 0.64)
• Race & ethnicity: White 55% Hispanic / Latino 17% Black 13% Two or more races 12% Asian 10%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Italian 2% Slovak 2% Portuguese 1%
• Foreign-born: 16% · Canada, China, South Korea
• Languages at home: 76% English-only · Spanish 11% Other Indo-European 4% Other Asian/Pacific 2%

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: ▼ -59.92%
• Current HPI: 254.4946
• Rent YoY: ▼ -2.15%
• 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

2 events — show timeline

• 2026-05-22 Pending — NTREIS
• 2026-05-08 Listed $275,990 NTREIS