621 Caraway Trl

Princeton, TX 75407

$259,499C-

4 bd · 2.5 ba · 1,867 sqft · Built 2026 · SingleFamily · Active · 104 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,273/mo
• Mortgage (P&I): −$1,361
• Tax + insurance: −$432
• HOA: −$0
• Vac / Maint / Mgmt: −$477
• Net cashflow: $2/mo
• Annual: $29/yr
• Cap rate: 6.30%
• Cash-on-cash: 0.04%
• DSCR: 1.00
• 1% rule: 0.88%
• Cash to close: $72,660

Investor read

• This is a 4-bed/2.5-bath single-family listed at $259k. Condition is rated excellent.
• At list price, monthly cash flow is $2 ($29/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 $227k (12.4% below list).
• It's been on market 104 days — a 9% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $227k (12.4% below list) — sets the bar for 1% rule.
• 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.
• 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: Mayfield El (609 students, 73% 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).
• Market conditions: Rents soft (-1.0%/yr); 1749 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 48d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 19,194 units permitted in Collin County in 2024 (3,988 in 5+ unit buildings).
• Collin County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Cap rate 6.3% vs local median 4.5% in Princeton — 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.

Questions for listing agent

• It's been on market 104 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.