1216 Laguna Ln · Princeton, TX 75407

$247,990

3 bd · 2.0 ba · 1,424 sqft · SingleFamily · 58 Days on market

Built 2026 Good condition 4,600 sqft lot $174/sqft · 21% below area Est $315k · 21% under $93/mo HOA · 5% of rent ↓ 13% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +8.6/30.0
• Schools +4.2/10.0
• Condition / age +4.0/5.0
• 1% rule +3.1/10.0
• Livability +3.1/5.0
• DSCR +2.3/10.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

MLS# 21249597 - Built by Imagination Homes - Ready Now! ~ Imagination Homes proudly presents the Sonnet Floorplan, a thoughtfully designed single-story home offering comfort, functionality, and inviting living spaces throughout. A 3 Bedroom, 2 Bathroom, 2 Car Garage with 1,424 SF of living space that feels much bigger. Step inside through the welcoming entry and discover an open-concept layout that seamlessly connects the kitchen, dining, and family room—perfect for everyday living and effortless entertaining. The spacious family room flows naturally into the dining area and kitchen, creating a bright and airy central gathering space. The kitchen features a large island, pantry, and c

Key facts

• Utility room
• Walk-in closet
• Covered patio

Tags

• OPEN-CONCEPT LAYOUT
• LARGE ISLAND
• WALK-IN CLOSET
• EN-SUITE BATH
• COVERED PATIO
• UTILITY ROOM

Property features AI

Finance

• Other: Energy-efficient features including enhanced attic insulation, efficient appliances, insulation, efficient lighting, mechanical fresh air, rain/freeze sensors, and programmable thermostat
• Financial info: Treat as clear loan type; No second mortgage indicated
• HOA & community: Mandatory HOA (Clearhaven Homeowners Association); HOA fee $1,120 annually; HOA includes internet; HOA management company: Clearhaven Homeowners Association, Inc.

Exterior

• Parking: Attached 2-car garage with garage door opener and 2-car double doors; Covered parking for 2 vehicles; Driveway; Garage faces front
• Security: Smoke detectors
• Utilities: Co-op water; Electricity connected; Underground utilities; Community mailbox; Curbs and sidewalks
• Home design: Single-family residence; One story; New construction (incomplete)
• Construction: Brick construction; Radiant barrier; Composition/shingle roof; Slab foundation; Year built 2026 (new construction - incomplete)
• Exterior features: Wood fencing in back yard; Sprinkler system; Subdivision location; Playground in community

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Microwave; Kitchen island; Built-in cabinets; Pantry / walk-in pantry
• Bedrooms: 3 bedrooms (all on main level); Primary bedroom with walk-in closet
• Flooring: Carpet; Luxury vinyl plank
• Bathrooms: 2 full bathrooms; Primary bathroom with separate shower and double vanity
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Open floorplan; Eat-in kitchen; Kitchen island; Pantry (including walk-in pantry); Double vanity; Cable TV available; High speed internet available; Walk-in closets; Built-in cabinets; Solid surface counters (non-natural); Granite countertops; Separate utility room; Separate shower; Second sink
• Laundry & utility: Washer hookup; Electric dryer hookup; Separate utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $248k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-215 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $217k (12.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (18.8% below list).
• Recommended offer: $201k (18.8% below list) — sets the bar for 1% rule.

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.
• 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.
• Zoned schools: Harper El (math 50% / reading 41%, grade D-, #1,112 of 4,322 statewide, top 26%, 436 students, 56% FRL); Clark Middle (math 53% / reading 42%, grade C-, #408 of 1,662 statewide, top 25%, 707 students, 66% FRL); Princeton H S (math 52% / reading 54%, grade C-, #437 of 1,632 statewide, top 27%, 1,521 students, 57% FRL) — zoned schools at 60% FRL track the district average.
• Market conditions: Rents soft (-1.0%/yr); 1410 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $7k 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 58 days — a 3% lower offer ($241k) 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $201,473 (18.8% 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. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 19% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.81% ✗
• Cap rate: 5.25%
• Cash-on-cash: -3.72%
• DSCR: 0.83
• GRM: 10.3

CMA / ARV

• ARV (median comp): $314,987
• List price: $247,990
• Delta: -21.27%
• 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
1140 Laguna Ln	0.05mi	3/2.0	1,291 (-9%)	0mo	$239,990	$186	82
1135 Loch Way	0.11mi	3/2.0	1,552 (+9%)	0mo	$290,600	$187	80
1111 Loch Way	0.14mi	3/2.0	1,552 (+9%)	2mo	$283,440	$183	77
777 Saxony Dr	0.61mi	3/2.0	1,491 (+5%)	3mo	$279,955	$188	61
913 Poppy Cove Ln	0.25mi	3/2.0	1,552 (+9%)	21mo	$312,980	$202	56
480 Lake Erie Dr	0.42mi	3/2.0	1,249 (-12%)	6mo	$235,000	$188	55
875 Poppy Cove Ln	0.28mi	3/2.0	1,552 (+9%)	21mo	$304,980	$197	54
860 Poppy Cove Ln	0.31mi	3/2.0	1,552 (+9%)	22mo	$305,590	$197	52
842 Poppy Cove Ln	0.33mi	3/2.0	1,552 (+9%)	22mo	$305,190	$197	51
401 Oxford Loop	0.75mi	3/2.0	1,332 (-6%)	20mo	$215,000	$161	38
622 Windsor Dr	0.70mi	3/2.0	1,567 (+10%)	17mo	$343,293	$219	37
523 Oxford Loop	0.73mi	4/2.0 (+1)	1,608 (+13%)	19mo	$234,900	$146	23

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: -26.1%
• Equity multiple: 0.14×
• Total profit: $-59,706
• Equity at exit: $36,976

10-year hold

• IRR: -38.2%
• Equity multiple: -0.33×
• Total profit: $-92,099
• Equity at exit: $21,442

Cash invested: $69,437 (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: 1410
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,015 high
• Mortgage (P&I): −$1,300
• Tax est. 1.5%: −$310 /mo · $3,720/yr
• Insurance: −$103
• HOA: −$93
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $-215

Break-even live

Break-even rent $2,287

Max offer price $216,855

Occupancy floor —

Sensitivity live

Price	-10% $-44	-5% $-129	+0% $-215	+5% $-301	+10% $-387
Rent	-10% $-374	-5% $-295	+0% $-215	+5% $-136	+10% $-56
Rate	-1.0pp $-90	-0.5pp $-152	base $-215	+0.5pp $-279	+1.0pp $-345

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: $61,998
• Closing costs: $7,440
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
605 Grenada Lake Dr Princeton, TX	3.0	2.0	1563	$1,925	$1.23	17d	1	0.20mi
1525 Farm to Market Road 982 Princeton, TX	2.0–4.0	2.0–2.5	1551	$2,332	$1.50	0d	53	0.25mi
882 Breakwater Dr Princeton, TX	4.0	2.5	1824	$2,250	$1.23	24d	1	0.27mi
846 Breakwater Dr Princeton, TX	3.0	2.5	1824	$2,000	$1.10	1d	1	0.31mi
846 Breakwater Dr Princeton, TX	3.0	2.5	1824	$2,000	$1.10	4d	1	0.31mi
865 Table Rock St Princeton, TX	3.0	2.0	1563	$2,050	$1.31	24d	1	0.32mi
229 Marsh Ln Princeton, TX	3.0	2.5	1550	$1,650	$1.06	26d	1	0.34mi
315 Stone Ct Princeton, TX	3.0	2.5	1573	$2,100	$1.34	45d	1	0.35mi
220 Marsh Ln Princeton, TX	4.0	2.5	1722	$1,785	$1.04	7d	1	0.37mi
303 Stone Ct Princeton, TX	3.0	2.5	1586	$1,700	$1.07	26d	1	0.37mi
303 Stone Ct Princeton, TX	3.0	2.5	1586	$1,700	$1.07	1d	1	0.37mi
843 Ozark Path Princeton, TX	3.0	2.0	1249	$2,100	$1.68	45d	1	0.38mi
803 Table Rock St Princeton, TX	4.0	2.5	1683	$1,850	$1.10	45d	1	0.39mi
203 Marsh Ln Princeton, TX	3.0	2.5	1586	$1,575	$0.99	9d	1	0.40mi
204 Marsh Ln Princeton, TX	4.0	2.5	1722	$1,700	$0.99	45d	1	0.41mi
366 Lake Erie Dr Princeton, TX	4.0	2.5	1824	$1,990	$1.09	26d	1	0.46mi
622 Saxony Dr Princeton, TX	3.0	2.0	1567	$2,000	$1.28	45d	1	0.65mi
649 Saxony Dr Princeton, TX	4.0	2.0	1674	$2,100	$1.25	14d	1	0.66mi
649 Saxony Dr Princeton, TX	4.0	2.0	1674	$2,100	$1.25	1d	1	0.66mi
461 Princewood Dr Princeton, TX	3.0	2.0	1749	$1,750	$1.00	26d	1	0.77mi
353 Princewood Dr Princeton, TX	4.0	2.0	1753	$1,950	$1.11	45d	1	0.87mi
899 E Hazelwood St Princeton, TX	1.0–3.0	1.0–2.0	989	$1,780	$1.80	1d	13	0.89mi
502 E Hazelwood St Princeton, TX	3.0	2.0	1295	$1,550	$1.20	45d	1	0.95mi
514 E Hazelwood St Unit B Princeton, TX	3.0	2.0	1380	$1,475	$1.07	9d	1	0.96mi
514 E Hazelwood St Unit B Princeton, TX	3.0	2.0	1380	$1,495	$1.08	45d	1	0.96mi
514 E Hazelwood St Princeton, TX	3.0	2.0	1380	$1,475	$1.07	26d	1	0.96mi
514 E Hazelwood St Princeton, TX	3.0	2.0	1380	$1,475	$1.07	1d	1	0.96mi
414 E Hazelwood St Princeton, TX	3.0	2.0	1328	$1,595	$1.20	26d	1	0.97mi
512 E Hazelwood St Unit A Princeton, TX	3.0	2.0	1295	$1,349	$1.04	45d	1	0.97mi
200 Cole St Princeton, TX	1.0–2.0	1.0–2.0	838	$1,263	$1.51	1d	8	0.99mi
200 Cole St Princeton, TX	1.0–3.0	1.0–2.0	960	$1,799	$1.87	45d	23	0.99mi
1501 Hidden Bluff Xing Princeton, TX	4.0	2.0	1794	$2,200	$1.23	14d	1	0.99mi
226 Griffith Dr Princeton, TX	3.0	2.5	1339	$1,675	$1.25	26d	1	0.99mi
325 Allenwood Dr Princeton, TX	3.0	1.5	1008	$1,900	$1.88	45d	1	1.01mi
420 Gunsmoke Trl Princeton, TX	4.0	2.0	1865	$1,975	$1.06	9d	1	1.02mi
408 Stampede Ln Princeton, TX	4.0	2.0	1794	$1,925	$1.07	45d	1	1.04mi
513 Spur Rdg Princeton, TX	3.0	2.0	1622	$2,200	$1.36	19d	1	1.14mi
604 Saddle Club Way Princeton, TX	4.0	2.0	1592	$2,050	$1.29	45d	1	1.17mi
7008 Vining DR Princeton, TX	4.0	3.0	1510	$2,500	$1.66	45d	1	1.18mi
603 Smokey Trl Princeton, TX	3.0	2.0	1622	$2,100	$1.29	20d	1	1.18mi

HOA detail

• Monthly dues: $93 · $1,116/yr

Listing history 19 events

1. 2026-06-21
   days on market $247,990 Active 58 DOM
2. 2026-06-18
   days on market $247,990 Active 55 DOM
3. 2026-06-17
   days on market $247,990 Active 54 DOM
4. 2026-06-16
   days on market $247,990 Active 53 DOM
5. 2026-06-15
   days on market $247,990 Active 52 DOM
6. 2026-06-13
   days on market $247,990 Active 50 DOM
7. 2026-06-13
   pricedays on market $247,990 Active 49 DOM
8. 2026-06-09
   days on market $249,990 Active 46 DOM
9. 2026-06-08
   days on market $249,990 Active 45 DOM
10. 2026-06-07
    days on market $249,990 Active 44 DOM
11. 2026-06-04
    days on market $249,990 Active 41 DOM
12. 2026-06-03
    days on market $249,990 Active 40 DOM
13. 2026-06-02
    days on market $249,990 Active 39 DOM
14. 2026-06-01
    days on market $249,990 Active 38 DOM
15. 2026-05-31
    days on market $249,990 Active 37 DOM
16. 2026-05-14
    price $249,990 1757-char remark
17. 2026-05-01
    price $264,990 1757-char remark
18. 2026-04-28
    price $274,990 1757-char remark
19. 2026-04-24
    listed $283,478 Active 1757-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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 25 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: $24,177
• − Mortgage interest: −$13,891
• − Property taxes: −$3,720
• − Insurance: −$1,240
• − Repairs & maintenance: −$1,934
• − Management: −$1,934
• − HOA: −$1,116
• − Depreciation: −$7,214
• Taxable loss: −$6,873
• Est. tax savings @ 24.0%: +$1,649
• After-tax cash flow: $-933/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 None rehab

This single-family home is in excellent condition with no visible repairs needed. It offers a good return on investment with updates that can significantly increase 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 — Improves aesthetics and functionality
• Both New kitchen backsplash — Enhances kitchen aesthetics and functionality

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 — Improves aesthetics and functionality ↑
• Both New kitchen backsplash — Enhances kitchen aesthetics and functionality ↑

ⓘ 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: 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

• 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

-12.5% since first listed

5 events — show timeline

• 2026-06-13 Price Changed $247,990 NTREIS
• 2026-05-14 Price Changed $249,990 NTREIS
• 2026-05-01 Price Changed $264,990 NTREIS
• 2026-04-28 Price Changed $274,990 NTREIS
• 2026-04-24 Listed $283,478 NTREIS