3361 P Ave · Plano, TX 75074

$265,000

4 bd · 1.5 ba · 1,501 sqft · SingleFamily public records · 13 Days on market

Built 1972 7,841 sqft lot Est $333k · 20% under

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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 +12.9/30.0
• Schools +4.9/10.0
• Livability +4.2/5.0
• 1% rule +3.9/10.0
• DSCR +3.9/10.0
• Condition / age +2.5/5.0
• Rent growth +1.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Multiple offers received; please submit hightest and best offers by noon on Tuesday, Nov. 25th. A strong investment opportunity with major improvements already completed, this property offers a solid foundation for future updates and value enhancement. Located within walking distance of a nearby park and just a short drive to Oak Point Park & Nature Preserve, the home is well-situated for owners or investors seeking convenience, outdoor recreation, and long-term appeal. Significant structural and mechanical upgrades have already been handled, reducing the workload for the next owner. A new roof, completed foundation repairs and full replacement of all plumbing beneath the home provide

Key facts

• Major improvements
• New roof
• 7,841 sq ft lot

Tags

• INVESTMENT OPPORTUNITY
• MAJOR IMPROVEMENTS
• WALKING DISTANCE TO PARK
• SHORT DRIVE TO OAK POINT PARK
• NEW ROOF
• COMPLETED FOUNDATION REPAIRS

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $265k.

Deal economics

• At list price, monthly cash flow is $-19 ($-227/yr) — negative.
• To cash-flow at today's rent, offer at most $262k (1.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $237k (10.7% below list).
• Recommended offer: $237k (10.7% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 2.8% in Plano — 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 84/100 on livability (#8 in TX, #728 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: cost of living F.
• Plano ISD (urban): math 52% / reading 55% proficiency, ranked #90 of 826 in TX (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Barron El (math 27% / reading 22%, grade F, #3,052 of 4,322 statewide, top 74%, 343 students, 85% FRL) — zoned schools average 85% FRL vs 25% district-wide (61 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 24% at this address vs 54% district-wide (-29 pts) — the specific schools serving this property underperform the Plano ISD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents falling (-3.9%/yr); 184 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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).
• This rent runs 32% of the median local income ($89k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 13 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 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $236,689 (10.7% 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. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.89% ✗
• Cap rate: 6.21%
• Cash-on-cash: -0.31%
• DSCR: 0.99
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $333,222
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3337 P Ave	0.08mi	4/2.0	1,516 (+1%)	4mo	$315,000	$208	90
3352 Tarkio Rd	0.03mi	4/2.0	1,573 (+5%)	5mo	$345,000	$219	85
3352 Nottingham Ln	0.09mi	3/2.0 (-1)	1,548 (+3%)	2mo	$358,000	$231	82
1404 Glenwood Ln	0.24mi	4/2.0	1,482 (-1%)	6mo	$328,900	$222	80
3312 Tarkio Rd	0.15mi	3/2.0 (-1)	1,573 (+5%)	8mo	$344,900	$219	72
1716 E Parker Rd	0.25mi	3/2.0 (-1)	1,627 (+8%)	6mo	$320,000	$197	62
3425 Tarkio Rd	0.15mi	3/2.0 (-1)	1,318 (-12%)	4mo	$292,000	$222	62
1717 Lucas Ter	0.28mi	4/2.5	1,316 (-12%)	3mo	$329,900	$251	60
3413 Chelsea Ln	0.13mi	3/2.0 (-1)	1,280 (-15%)	3mo	$295,000	$230	60
2008 Winona Dr	0.42mi	3/2.0 (-1)	1,635 (+9%)	1mo	$400,000	$245	58
1616 Azalea Ln	0.74mi	3/2.0 (-1)	1,505 (+0%)	2mo	$333,000	$221	56
704 Kipling Dr	0.75mi	3/2.0 (-1)	1,646 (+10%)	1mo	$415,000	$252	41

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: -20.3%
• Equity multiple: 0.31×
• Total profit: $-51,011
• Equity at exit: $39,512

10-year hold

• IRR: -22.3%
• Equity multiple: 0.02×
• Total profit: $-72,487
• Equity at exit: $22,912

Cash invested: $74,200 (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 75074

• Rents YoY: -3.9%
• Active inventory: 184
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,367 high
• Mortgage (P&I): −$1,390
• Tax from tax record: −$389 /mo · $4,664/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$497
• Net cashflow: $-19

Break-even live

Break-even rent $2,391

Max offer price $261,661

Occupancy floor 96%

Sensitivity live

Price	-10% $131	-5% $56	+0% $-19	+5% $-94	+10% $-169
Rent	-10% $-206	-5% $-112	+0% $-19	+5% $75	+10% $168
Rate	-1.0pp $115	-0.5pp $48	base $-19	+0.5pp $-88	+1.0pp $-157

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3428 N Ave Plano, TX	3.0	2.0	1424	$2,200	$1.54	44d	1	0.33mi
1921 Felix Dr Plano, TX	3.0	2.0	1665	$2,320	$1.39	21d	1	0.51mi
1904 Jasmine Ln Unit 1056384P Plano, TX	4.0	2.0	1323	$5,364	$4.05	0d	1	0.59mi
1805 Japonica Ln Plano, TX	3.0	2.0	1320	$1,785	$1.35	44d	1	0.59mi
701 Kipling Dr Plano, TX	4.0	2.0	1769	$2,300	$1.30	44d	1	0.76mi
1621 E Park Blvd Plano, TX	3.0	1.5	1473	$2,095	$1.42	12d	1	0.79mi
1621 E Park Blvd Plano, TX	3.0	1.5	1473	$1,995	$1.35	5d	1	0.79mi
1408 E Park Blvd Plano, TX	3.0	2.0	1538	$2,195	$1.43	25d	1	0.83mi
1800 E Spring Creek Pkwy Plano, TX	1.0–3.0	1.0–2.0	1001	$2,015	$2.01	0d	39	0.84mi
812 Arbor Downs Dr Plano, TX	3.0	2.0	1616	$2,300	$1.42	0d	1	0.94mi
2517 Figtree Ln Plano, TX	3.0	2.0	1430	$2,150	$1.50	44d	1	0.95mi
3508 Summerfield Dr Plano, TX	3.0	2.0	2109	$3,100	$1.47	8d	1	0.96mi
781 Pierre Ln Plano, TX	4.0	3.0	2016	$2,600	$1.29	25d	1	0.97mi
781 Chateau Ln Plano, TX	3.0	2.5	1469	$2,445	$1.66	44d	1	0.97mi
2605 Royal Oaks Dr Plano, TX	4.0	2.0	1665	$2,350	$1.41	44d	1	0.99mi
3513 Montreal Dr Plano, TX	4.0	3.0	2016	$2,500	$1.24	44d	1	0.99mi
3404 Napolean Ct Plano, TX	3.0	2.5	1754	$2,295	$1.31	5d	1	1.01mi
2700 Chancellor Dr Plano, TX	4.0	2.0	2014	$3,500	$1.74	16d	1	1.01mi
6000 Eagle Pass Plano, TX	3.0	2.0	1646	$2,300	$1.40	44d	1	1.03mi
6000 Eagle Pass Plano, TX	3.0	2.0	1646	$2,300	$1.40	15d	1	1.03mi
2513 Trailridge Dr Plano, TX	3.0	2.0	1574	$2,090	$1.33	4d	1	1.05mi
864 Warwick Dr Plano, TX	3.0	2.0	1624	$5,500	$3.39	0d	1	1.07mi
4045 Cavalry Dr Plano, TX	3.0	2.0	1453	$2,275	$1.57	21d	1	1.07mi
845 Harvest Glen Dr Plano, TX	4.0	2.0	1529	$2,400	$1.57	44d	1	1.07mi
2813 Countess Dr Plano, TX	3.0	2.0	1870	$2,500	$1.34	0d	1	1.10mi
4064 Lonesome Trl Plano, TX	4.0	2.0	1749	$2,805	$1.60	44d	1	1.10mi
3316 John Muir Ct Plano, TX	4.0	2.0	2113	$2,500	$1.18	3d	1	1.10mi
2001 E Spring Creek Pkwy Plano, TX	1.0–3.0	1.0–2.0	982	$2,432	$2.48	2d	18	1.11mi
821 Stone Trail Dr Plano, TX	3.0	2.0	1989	$2,150	$1.08	8d	1	1.13mi
764 Middle Cove Dr Plano, TX	3.0	2.0	1886	$2,300	$1.22	14d	1	1.14mi
2904 Chancellor Dr Plano, TX	3.0	2.0	1452	$2,300	$1.58	6d	1	1.14mi
6201 Texana Way Plano, TX	3.0	2.5	1692	$2,400	$1.42	44d	1	1.16mi
6200 Texana Way Plano, TX	3.0	2.5	1906	$2,450	$1.29	19d	1	1.17mi
1811 Mimosa Ln Plano, TX	3.0	2.0	1153	$2,030	$1.76	13d	1	1.18mi
2913 Monarch Dr Plano, TX	3.0	2.0	1532	$2,300	$1.50	44d	1	1.19mi
6216 Texana Way Plano, TX	3.0	2.5	1814	$2,500	$1.38	16d	1	1.19mi
2029 Willow Ln Plano, TX	4.0	2.0	1380	$2,676	$1.94	0d	1	1.21mi
2305 Oklahoma Ave Plano, TX	3.0	2.5	1423	$2,750	$1.93	44d	1	1.24mi
916 Harvest Glen Dr Plano, TX	4.0	2.0	1641	$2,500	$1.52	44d	1	1.25mi
2908 Lemmontree Ln Plano, TX	3.0	2.0	1600	$2,369	$1.48	5d	1	1.27mi

Listing history 3 events

1. 2025-12-04
   status Pending
2. 2025-11-25
   historical Active Option Contract
3. 2025-11-21
   listed $265,000 Active

ⓘ 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: $4,664 · $389/mo
• Projected year-2 tax: $4,850 · $404/mo
• Expected delta: +$186/yr (+$15/mo · 4.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 23 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,403
• − Mortgage interest: −$14,844
• − Property taxes: −$4,664
• − Insurance: −$1,325
• − Repairs & maintenance: −$2,272
• − Management: −$2,272
• − Depreciation: −$7,709
• Taxable loss: −$4,684
• Est. tax savings @ 24.0%: +$1,124
• After-tax cash flow: $897/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: Plano ISD
• NCES district ID: 4835100
• Math proficiency: 52% ▼ -13.00%
• Reading proficiency: 55% ▼ -8.00%
• Median HH income: $79,861
• Composite: 48.54/100
• National rank: #2115
• State rank: #90 of 826 in TX

Livability — Plano

• Score: 84/100
• State rank: #8
• US rank: #728

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Plano, TX
• County: Collin County · 1,159,394 people
• City population: 288,003
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 53,831
• Household income: $88,697
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 1848.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: White 36% Hispanic / Latino 36% Two or more races 18% Asian 13% Black 11% Native American 1%
• Hispanic origin (detail): Mexican 26%
• Common ancestry: Lithuanian 1% Slovak 1% Serbian 1%
• Foreign-born: 33% · Canada, China, Vietnam
• Languages at home: 52% English-only · Spanish 31% Other Indo-European 7% Arabic 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: ▼ -264.33%
• Current HPI: 263.7885
• Rent YoY: ▼ -3.90%
• 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

3 events — show timeline

• 2025-12-04 Pending — NTREIS
• 2025-11-25 Contingent — NTREIS
• 2025-11-21 Listed $265,000 NTREIS

Property tax history

+4.4%/yr

Latest (2025): $4,664 · +11.1% YoY. Source: county tax records.