Chicory Plan · Argyle, TX 76226

$366,990

3 bd · 2.5 ba · 1,857 sqft · MultiFamily · 141 Days on market

Excellent condition $214/mo HOA · 7% of rent

---

Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Schools +6.4/10.0
• Cash flow +6.0/30.0
• Condition / age +4.8/5.0
• Livability +3.2/5.0
• Rent growth +2.9/5.0
• 1% rule +1.9/10.0
• DSCR +0.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

The communal areas of the Chicory are all located on the first floor making entertainment and quality time easy. With an open concept home design, the first floor consists of a welcoming foyer that leads into the dining, great room, and kitchen area. All bedrooms are upstairs nestled among the loft - offering a cozy space to connect with our loved ones.

Key facts

• Loft
• Welcoming foyer
• Bedrooms upstairs

Tags

• OPEN CONCEPT HOME DESIGN
• WELCOMING FOYER
• DINING GREAT ROOM KITCHEN AREA
• BEDROOMS UPSTAIRS
• LOFT

🏗️ New construction. The $366,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $420,396.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath multifamily listed at $367k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-812 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $303k (17.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $292k (20.4% below list).
• Recommended offer: $292k (20.4% below list) — sets the bar for 1% rule.
• Cap rate 4.0% vs local median 3.2% in Argyle — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 65/100 on livability (#658 in TX) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F, cost of living F.
• Argyle ISD (rural): math 71% / reading 67% proficiency, ranked #8 of 826 in TX (top 1%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 13% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+1.6%/yr); 1110 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 10,531 units permitted in Denton County in 2024 (2,713 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Denton County population projected at +66% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 141 days — a 12% lower offer ($323k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate 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 $292,067 (20.4% 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. It's been on market 141 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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?
8. 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.
9. 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.
10. 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: 0.69% ✗
• Cap rate: 3.98%
• Cash-on-cash: -8.28%
• DSCR: 0.63
• GRM: 12.0

CMA / ARV

• ARV (median comp): $420,396
• List price: $366,990
• Delta: -12.70%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.61% rent growth · sell at horizon

5-year hold

• IRR: -32.5%
• Equity multiple: -0.05×
• Total profit: $-123,688
• Equity at exit: $62,682

10-year hold

• IRR: -47.6%
• Equity multiple: -0.61×
• Total profit: $-189,657
• Equity at exit: $36,348

Cash invested: $117,711 (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 76226

• Home prices YoY: -24.4%
• Rents YoY: 1.6%
• Active inventory: 1110
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $2,921 high
• Mortgage (P&I): −$2,205
• Tax est. 1.5%: −$525 /mo · $6,306/yr
• Insurance: −$175
• HOA: −$214
• Vacancy / Maint / Mgmt: −$613
• Net cashflow: $-812

Break-even live

Break-even rent $3,948

Max offer price $302,908

Occupancy floor —

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: $105,099
• Closing costs: $12,612
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
721 10th St Argyle, TX	3.0	2.0	1894	$2,550	$1.35	43d	1	0.11mi
701 10th St Argyle, TX	3.0	2.0	1884	$2,649	$1.41	43d	1	0.13mi
824 Trailside Ln Argyle, TX	4.0	3.0	2453	$3,250	$1.32	43d	1	0.30mi
816 Trailside Ln Argyle, TX	3.0	2.0	1653	$2,595	$1.57	43d	1	0.32mi
1704 Laurel Ln Argyle, TX	3.0–4.0	2.0–3.5	2116	$2,683	$1.27	1d	12	0.33mi
1804 Laurel Ln Argyle, TX	4.0	4.0	2439	$3,167	$1.30	43d	1	0.36mi
724 4th St Argyle, TX	3.0	2.5	2025	$2,575	$1.27	22d	1	0.40mi
537 Parkside Dr Argyle, TX	3.0	2.5	1702	$2,499	$1.47	24d	1	0.43mi
517 Parkside Dr Argyle, TX	3.0	2.5	1691	$2,500	$1.48	7d	1	0.46mi
512 Parkside Dr Argyle, TX	3.0	2.5	2001	$2,750	$1.37	19d	1	0.46mi
809 Blossom Ln Unit 35 Argyle, TX	3.0	2.5	1844	$2,610	$1.42	22d	1	0.47mi
909 Blossom Ln Unit 51 Argyle, TX	3.0	2.5	1844	$2,704	$1.47	22d	1	0.47mi
1044 3rd St Argyle, TX	2.0	2.0	1332	$2,500	$1.88	24d	1	0.48mi
1029 3rd St Argyle, TX	2.0	2.0	1569	$2,450	$1.56	3d	1	0.50mi
420 4th St Argyle, TX	3.0	2.5	2035	$2,445	$1.20	11d	1	0.52mi
416 4th St Argyle, TX	3.0	2.5	2044	$2,850	$1.39	1d	1	0.52mi
1056 Homestead Way Argyle, TX	3.0	2.5	2001	$2,900	$1.45	1d	1	0.54mi
200 Harvest Way Argyle, TX	1.0–3.0	1.0–2.5	1248	$2,983	$2.39	1d	248	0.64mi
1513 Canary Ln Argyle, TX	4.0	3.0	2511	$3,350	$1.33	12d	1	0.76mi
1712 Friendship Ln Unit NA Argyle, TX	3.0	2.5	2400	$3,950	$1.65	2d	1	0.77mi
916 Dove Cv Argyle, TX	4.0	3.0	2263	$2,995	$1.32	10d	1	0.77mi
1309 E Swan Trl Argyle, TX	3.0	2.0	1871	$2,695	$1.44	1d	1	0.78mi
1821 Waxwing Trl Argyle, TX	3.0	2.0	2208	$2,975	$1.35	10d	1	0.80mi
1450 20th St Northlake, TX	4.0	3.0	2476	$3,850	$1.55	10d	1	0.81mi
1904 Cardinal Way Argyle, TX	3.0	2.0	2209	$3,000	$1.36	3d	1	0.84mi
1809 McGee Ave Argyle, TX	3.0	3.0	2571	$2,950	$1.15	1d	1	0.86mi
1813 McGee Ave Argyle, TX	4.0	3.0	2491	$2,450	$0.98	12d	1	0.87mi
1724 Henderson Dr Argyle, TX	4.0	2.0	2044	$2,486	$1.22	7d	1	0.88mi
1316 Millerbird Way Argyle, TX	4.0	2.0	1806	$2,900	$1.61	1d	1	0.92mi
2108 Blackrail Ct Argyle, TX	3.0	2.0	2046	$2,850	$1.39	4d	1	1.06mi
616 Gannet Trl Argyle, TX	3.0	2.0	2169	$2,800	$1.29	4d	1	1.07mi
605 Gannet Trl Argyle, TX	3.0	2.5	2209	$3,100	$1.40	24d	1	1.11mi
517 Gannet Trl Argyle, TX	3.0	2.0	1872	$2,671	$1.43	43d	1	1.13mi
1012 Kensington Way Argyle, TX	3.0	2.0	2130	$2,800	$1.31	3d	1	1.36mi
1104 Knightsgate Rd Argyle, TX	4.0	2.0	2034	$3,200	$1.57	1d	1	1.38mi
1005 Whitehall Ln Argyle, TX	3.0	2.0	2130	$2,699	$1.27	3d	1	1.44mi
1005 Whitehall Ln Argyle, TX	3.0	2.0	2130	$2,699	$1.27	7d	1	1.44mi
1000 Westwood Ln Argyle, TX	4.0	2.0	2037	$3,050	$1.50	1d	1	1.47mi

HOA detail

• Monthly dues: $214 · $2,568/yr

Listing history 15 events

1. 2026-06-18
   days on market $366,990 Active 141 DOM
2. 2026-06-17
   days on market $366,990 Active 140 DOM
3. 2026-06-16
   days on market $366,990 Active 139 DOM
4. 2026-06-15
   days on market $366,990 Active 138 DOM
5. 2026-06-13
   days on market $366,990 Active 136 DOM
6. 2026-06-13
   days on market $366,990 Active 135 DOM
7. 2026-06-09
   days on market $366,990 Active 132 DOM
8. 2026-06-08
   days on market $366,990 Active 131 DOM
9. 2026-06-07
   days on market $366,990 Active 130 DOM
10. 2026-06-04
    days on market $366,990 Active 127 DOM
11. 2026-06-03
    days on market $366,990 Active 126 DOM
12. 2026-06-02
    days on market $366,990 Active 125 DOM
13. 2026-06-01
    days on market $366,990 Active 124 DOM
14. 2026-05-31
    days on market $366,990 Active 123 DOM
15. 2026-01-28
    listed $366,990 Active 355-char remark

    Show marketing remark (355 chars)

    The communal areas of the Chicory are all located on the first floor making entertainment and quality time easy. With an open concept home design, the first floor consists of a welcoming foyer that leads into the dining, great room, and kitchen area. All bedrooms are upstairs nestled among the loft - offering a cozy space to connect with our loved ones.

ⓘ 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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 24% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,048
• − Mortgage interest: −$23,549
• − Property taxes: −$6,306
• − Insurance: −$2,102
• − Repairs & maintenance: −$2,804
• − Management: −$2,804
• − HOA: −$2,568
• − Depreciation: −$12,230
• Taxable loss: −$17,314
• Est. tax savings @ 24.0%: +$4,155
• After-tax cash flow: $-5,588/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 · 5 photos

Excellent 95/100 None rehab

This multi-family home is in excellent condition with no visible repairs needed. It offers a great layout and is move-in ready.

Value-add opportunities

• Both Painting the exterior siding — Fresh paint can enhance curb appeal and property value.
• Both Landscaping improvements — Well-maintained landscaping can increase both resale and rental value.
• Both Interior updates (paint, minor repairs) — Fresh paint and minor repairs can improve the home's appearance and attract more buyers/renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior siding — Fresh paint can enhance curb appeal and property value. ↑
• Both Landscaping improvements — Well-maintained landscaping can increase both resale and rental value. ↑
• Both Interior updates (paint, minor repairs) — Fresh paint and minor repairs can improve the home's appearance and attract more buyers/renters. ↑

ⓘ 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: Argyle ISD
• NCES district ID: 4808670
• Math proficiency: 71% ▼ -2.00%
• Reading proficiency: 67% ▼ -1.00%
• Median HH income: $108,516
• Composite: 64.16/100
• National rank: #568
• State rank: #8 of 826 in TX

Livability — Argyle

• Score: 65/100
• State rank: #658
• US rank: #12392

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Denton County · 901,654 people
• City population: 43,587
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 43,587
• Household income: $180,982
• Rent vs Own: 6.4% rent · 93.6% own
• Severe rent burden: 40.0

Population outlook (Denton County) Hauer SSP2

• Today (2025): 1,053,010 people
• By 2030: 1,192,269 · +13.2%
• By 2040: 1,472,920 · +39.9%
• By 2050: 1,746,506 · +65.9%
• By 2075: 2,358,497 · +124.0%
• By 2100: 2,779,183 · +163.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 10% Two or more races 10% Asian 7% Black 4%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 3% Romanian 2% Portuguese 2%
• Foreign-born: 12% · Canada, South Korea, China
• Languages at home: 87% English-only · Spanish 5% Other Indo-European 3% Other Asian/Pacific 1%

Political lean MEDSL · Denton

• 2024 margin: R (+13.2) · D 42.7% · R 55.8% · Other 1.5%
• 2008→2024 swing: +11.0pp toward D · 2008: -24.2pp · 2024: -13.2pp
• All cycles: 2024: R+13.2 2020: R+8.1 2016: R+20.2 2012: R+31.7 2008: R+24.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.81%
• Current HPI: 253.1948
• Rent YoY: ▲ 1.61%
• 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

1 event — show timeline

• 2026-01-28 Listed $366,990 Zillow