4618 Carr St · The Colony, TX 75056

$225,000

2 bd · 2.0 ba · 1,227 sqft · MultiFamily public records · 101 Days on market

Built 1983 3,300 sqft lot $183/sqft · 8% below area Est $244k · 8% under

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Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +11.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• Schools +4.7/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• 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

New Electrical Panel, New HVAC AMERICAN STANDARD 2 TON, NEW ROOF AUGUST 2025-Highly rated Class 4 Shingles. Calling all investors! 2 bedrooms and 2 full bathrooms duplex with an open-concept living and kitchen area highlighted by vaulted ceilings. The w-ell-designed layout offers two generously sized bedrooms and ample natural light throughout. Conveniently located with easy access to FM 423, Highway 121, and the Dallas North Tollway, providing quick access to shopping, dining, and major employment centers. Enjoy close proximity to Lewisville Lake, just minutes away. Washer-Dryer & Refrigerator Stay.

Key facts

• Ample natural light
• Vaulted ceilings
• Open-concept living

Tags

• OPEN-CONCEPT LIVING
• VAULTED CEILINGS
• AMPLE NATURAL LIGHT
• EASY ACCESS TO FM 423
• EASY ACCESS TO HIGHWAY 121

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $904 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $205k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 2.9% in The Colony — 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 68/100 on livability (#464 in TX) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B+; Watch: amenities F, commute F.
• Lewisville ISD (suburban): math 49% / reading 54% proficiency, ranked #109 of 826 in TX (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents soft (-1.0%/yr); 427 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 10,531 units permitted in Denton County in 2024 (2,713 in 5+ unit buildings).
• This rent runs 32% of the median local income ($120k/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 $7k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $63k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($205k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y ago 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.
• Current owner paid $63k; list at $225k implies a 255% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 24% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $204,750 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-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. 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 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: 1.42% ✓
• Cap rate: 11.11%
• Cash-on-cash: 17.21%
• DSCR: 1.77
• GRM: 5.9

CMA / ARV

• ARV (median comp): $243,983
• List price: $225,000
• Delta: -7.78%
• Verdict: FAIR
• Comps: 9 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 5.0%
• Equity multiple: 1.19×
• Total profit: $11,792
• Equity at exit: $33,548

10-year hold

• IRR: 11.4%
• Equity multiple: 1.77×
• Total profit: $48,468
• Equity at exit: $19,454

Cash invested: $63,000 (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 75056

• Rents YoY: -1.0%
• Active inventory: 427
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $3,203 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$353 /mo · $4,238/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$673
• Net cashflow: $904

Break-even live

Break-even rent $2,059

Max offer price $225,000

Occupancy floor 67%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$3,202
Total (2 units)			$3,203

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4646 Carr St The Colony, TX	2.0	1.0	1008	$1,600	$1.59	12d	1	0.07mi
4632 Jenkins Cir The Colony, TX	2.0	1.0	1035	$1,450	$1.40	24d	1	0.16mi
4632 Jenkins Cir The Colony, TX	2.0	1.0	1035	$1,450	$1.40	43d	1	0.16mi
4604 Nervin St The Colony, TX	3.0	2.0	1232	$1,850	$1.50	43d	1	0.20mi
4456 Chapman St The Colony, TX	2.0	1.0	949	$1,395	$1.47	15d	1	0.20mi
4628 Nervin St The Colony, TX	3.0	1.0	1112	$1,790	$1.61	43d	1	0.21mi
4612 Larner St The Colony, TX	3.0	2.0	1253	$2,141	$1.71	20d	1	0.25mi
4805 Woodruff Dr The Colony, TX	3.0	2.0	1379	$2,099	$1.52	22d	1	0.26mi
4423 Chapman St The Colony, TX	2.0	2.0	1227	$1,780	$1.45	18d	1	0.29mi
4840 Graham Ct The Colony, TX	3.0	2.0	1409	$2,200	$1.56	43d	1	0.42mi
4813 Wagner Dr The Colony, TX	3.0	2.0	1409	$2,345	$1.66	43d	1	0.45mi
4248 Driscoll Dr The Colony, TX	3.0	2.0	1255	$2,105	$1.68	24d	1	0.64mi
4161 Driscoll Dr The Colony, TX	3.0	2.0	1476	$2,190	$1.48	24d	1	0.89mi
4161 Driscoll Dr The Colony, TX	3.0	2.0	1476	$2,190	$1.48	20d	1	0.89mi
5217 Gates Dr The Colony, TX	3.0	2.0	1335	$2,175	$1.63	3d	1	1.15mi
5300 Slay Dr The Colony, TX	3.0	2.0	1339	$2,150	$1.61	20d	1	1.19mi
5050 Farm to Market Road 423 Unit 5087 Frisco, TX	2.0	2.0	1103	$1,456	$1.32	15d	1	1.22mi
5050 Farm To Market RD Frisco, TX	1.0–3.0	1.0–2.0	1121	$1,767	$1.58	1d	30	1.24mi
5212 Knox Dr The Colony, TX	3.0	2.0	1379	$3,400	$2.47	24d	1	1.24mi
5050 Farm to Market Road 423 Unit 5073 Frisco, TX	2.0	2.0	1279	$1,636	$1.28	2d	1	1.27mi
5050 Farm to Market Road 423 Unit 5107 Frisco, TX	2.0	2.0	1103	$1,481	$1.34	12d	1	1.28mi
5050 Farm to Market Road 423 Unit 5065 Frisco, TX	1.0	1.0	966	$1,578	$1.63	12d	1	1.28mi
5050 FM 423 Frisco, TX	2.0	2.0	1103	$2,302	$2.09	3d	1	1.30mi
5512 Rutledge Dr The Colony, TX	3.0	2.0	1433	$2,100	$1.47	5d	1	1.31mi
5501 Adams Dr The Colony, TX	3.0	2.0	1339	$2,300	$1.72	43d	1	1.34mi
5541 Ragan Dr The Colony, TX	3.0	2.0	1433	$2,140	$1.49	19d	1	1.39mi
5529 Gates Dr The Colony, TX	3.0	2.0	1379	$2,150	$1.56	15d	1	1.47mi

Listing history 16 events

1. 2026-05-31
   days on market $225,000 Active 101 DOM
2. 2026-04-30
   price $225,000 612-char remark

   Show marketing remark (612 chars)

   New Electrical Panel, New HVAC AMERICAN STANDARD 2 TON, NEW ROOF AUGUST 2025-Highly rated Class 4 Shingles. Calling all investors! 2 bedrooms and 2 full bathrooms duplex with an open-concept living and kitchen area highlighted by vaulted ceilings. The w-ell-designed layout offers two generously sized bedrooms and ample natural light throughout. Conveniently located with easy access to FM 423, Highway 121, and the Dallas North Tollway, providing quick access to shopping, dining, and major employment centers. Enjoy close proximity to Lewisville Lake, just minutes away. Washer-Dryer & Refrigerator Stay.

3. 2026-03-25
   price $239,900 612-char remark

   Show marketing remark (612 chars)

   New Electrical Panel, New HVAC AMERICAN STANDARD 2 TON, NEW ROOF AUGUST 2025-Highly rated Class 4 Shingles. Calling all investors! 2 bedrooms and 2 full bathrooms duplex with an open-concept living and kitchen area highlighted by vaulted ceilings. The w-ell-designed layout offers two generously sized bedrooms and ample natural light throughout. Conveniently located with easy access to FM 423, Highway 121, and the Dallas North Tollway, providing quick access to shopping, dining, and major employment centers. Enjoy close proximity to Lewisville Lake, just minutes away. Washer-Dryer & Refrigerator Stay.

4. 2026-01-20
   listed $230,000 Active 612-char remark

   Show marketing remark (612 chars)

   New Electrical Panel, New HVAC AMERICAN STANDARD 2 TON, NEW ROOF AUGUST 2025-Highly rated Class 4 Shingles. Calling all investors! 2 bedrooms and 2 full bathrooms duplex with an open-concept living and kitchen area highlighted by vaulted ceilings. The w-ell-designed layout offers two generously sized bedrooms and ample natural light throughout. Conveniently located with easy access to FM 423, Highway 121, and the Dallas North Tollway, providing quick access to shopping, dining, and major employment centers. Enjoy close proximity to Lewisville Lake, just minutes away. Washer-Dryer & Refrigerator Stay.

5. 2012-12-01
   historical
6. 2012-10-17
   price $67,900
7. 2012-09-04
   listed $68,900 Active
8. 2010-03-18
   soldstatus
9. 2010-03-04
   historical
10. 2009-10-29
    listed $49,900
11. 2002-03-19
    soldstatus
12. 2001-01-25
    soldstatus
13. 1998-11-13
    soldstatus
14. 1996-09-03
    soldstatus
15. 1996-06-10
    soldstatus $63,308
16. 1995-02-02
    soldstatus

ⓘ 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: $4,238 · $353/mo
• Projected year-2 tax: $4,238 · $353/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 22 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 24% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,436
• − Mortgage interest: −$12,603
• − Property taxes: −$4,238
• − Insurance: −$1,125
• − Repairs & maintenance: −$3,075
• − Management: −$3,075
• − Depreciation: −$6,545
• Taxable income: $7,774
• Est. tax owed @ 24.0%: −$1,866
• After-tax cash flow: $8,976/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: Lewisville ISD
• NCES district ID: 4827300
• Math proficiency: 49% ▼ -10.00%
• Reading proficiency: 54% ▼ -4.00%
• Median HH income: $82,351
• Composite: 47.1/100
• National rank: #2333
• State rank: #109 of 826 in TX

Livability — The Colony

• Score: 68/100
• State rank: #464
• US rank: #9336

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: The Colony, TX
• County: Denton County · 901,654 people
• City population: 69,628
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 69,628
• Household income: $119,682
• Rent vs Own: 40.6% rent · 59.4% own
• Severe rent burden: 1704.0

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 49% Hispanic / Latino 18% Asian 17% Two or more races 13% Black 10%
• Hispanic origin (detail): Mexican 12% Cuban 1%
• Common ancestry: Slovak 2% Italian 1% Lithuanian 1%
• Foreign-born: 19% · Canada, South Korea, China
• Languages at home: 73% English-only · Spanish 11% Other Indo-European 5% Other Asian/Pacific 4%

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: ▼ -235.14%
• Current HPI: 288.9388
• 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

+255.4% since first listed

15 events — show timeline

• 2026-04-30 Price Changed $225,000 NTREIS
• 2026-03-25 Price Changed $239,900 NTREIS
• 2026-01-20 Listed $230,000 NTREIS
• 2012-12-01 Listing Removed — NTREIS
• 2012-10-17 Price Changed $67,900 NTREIS
• 2012-09-04 Listed $68,900 NTREIS
• 2010-03-18 Sold (MLS) — NTREIS
• 2010-03-04 Listing Removed — NTREIS
• 2009-10-29 Listed $49,900 NTREIS
• 2002-03-19 Sold (Public Records) — Public Records
• 2001-01-25 Sold (Public Records) — Public Records
• 1998-11-13 Sold (Public Records) — Public Records
• 1996-09-03 Sold (Public Records) — Public Records
• 1996-06-10 Sold (Public Records) $63,308 Public Records
• 1995-02-02 Sold (Public Records) — Public Records

Property tax history

+5.7%/yr

Latest (2025): $4,238 · -11.0% YoY. Source: county tax records.