3004 Mccormick St · Denton, TX 76205

$386,020

4 bd · 2.0 ba · 2,082 sqft · Land · 75 Days on market

Built 2026 5,981 sqft lot $185/sqft · 7% below area Est $414k · 7% under $67/mo HOA · 3% 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 +10.6/15.0
• Cash flow +6.2/30.0
• Livability +4.4/5.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0
• Rent growth +1.7/5.0
• DSCR +0.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

D.R. Horton is now selling in the new phase at their fabulous community of Eagle Creek in Denton and Denton ISD!! Gorgeous open concept single Story 4 bedroom, 2 bath Kingston Floorplan-Elevation D, with an estimated Summer completion. Large Chef's Kitchen with seating Island, Quartz countertops, Pendant lights, abundant Cabinets, tiled Backsplash, built-in stainless steel Appliances and wide Pantry. Spacious Living and luxurious main Bedroom at the rear of the Home with dual sink Vanity, over sized Shower, Linen Closet and walk-in Closet. Quartz Countertops in Kitchen and vanities in both Baths. Luxury vinyl plank at Entry, Halls, Living, Kitchen and Wet areas plus America's Smart Home Technology. High-efficiency SEER HVAC System, Tankless Water Heater, covered back Patio, full gutters, front Coach Lights, 6 foot fenced backyard, landscape Pkg with full Sprinkler System and more! Community Playground, Club House and Pool. Close proximity to Downtown Denton, UNT, TWU, The Square, Rayzor Ranch Town Center and Restaurants, I-35E & I-35W.

Key facts

• Wide pantry
• Quartz countertops
• Abundant cabinets

Tags

• CHEF'S KITCHEN
• SEATING ISLAND
• QUARTZ COUNTERTOPS
• ABUNDANT CABINETS
• TILED BACKSPLASH
• WIDE PANTRY

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $386k.

Deal economics

• At list price, monthly cash flow is $-703 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $284k (26.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $257k (33.4% below list).
• Recommended offer: $257k (33.4% below list) — sets the bar for 1% rule.
• Cap rate 4.1% vs local median 3.4% in Denton — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 88/100 on livability (#2 in TX, #210 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• Denton ISD (urban): math 36% / reading 43% proficiency, ranked #383 of 826 in TX (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents falling (-3.4%/yr); 172 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; 10,531 units permitted in Denton County in 2024 (2,713 in 5+ unit buildings).
• This rent runs 45% of the median local income ($69k/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 $3k of loan paydown is wiped out by about $12k 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 75 days — a 6% lower offer ($363k) is reasonable based on typical stale-listing flexibility.

Recommended offer $257,198 (33.4% 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 75 days. Have you received any prior offers? Is the seller open to a 33% 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 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?
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 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: 0.67% ✗
• Cap rate: 4.11%
• Cash-on-cash: -7.80%
• DSCR: 0.65
• GRM: 12.5

CMA / ARV

• ARV (median comp): $414,410
• List price: $386,020
• Delta: -6.85%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -33.4%
• Equity multiple: -0.06×
• Total profit: $-114,773
• Equity at exit: $57,557

10-year hold

• IRR: -63.9%
• Equity multiple: -0.72×
• Total profit: $-186,386
• Equity at exit: $33,376

Cash invested: $108,086 (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 76205

• Home prices YoY: -25.8%
• Rents YoY: -3.4%
• Active inventory: 172
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $2,572 high
• Mortgage (P&I): −$2,024
• Tax est. 1.5%: −$483 /mo · $5,790/yr
• Insurance: −$161
• HOA: −$67
• Vacancy / Maint / Mgmt: −$540
• Net cashflow: $-703

Break-even live

Break-even rent $3,462

Max offer price $284,320

Occupancy floor —

Sensitivity live

Price	-10% $-436	-5% $-569	+0% $-703	+5% $-836	+10% $-970
Rent	-10% $-906	-5% $-804	+0% $-703	+5% $-601	+10% $-500
Rate	-1.0pp $-508	-0.5pp $-605	base $-703	+0.5pp $-803	+1.0pp $-905

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: $96,505
• Closing costs: $11,581
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1709 Sparrow St Denton, TX	5.0	4.0	2922	$3,300	$1.13	0d	1	0.13mi
1513 Woodpecker St Denton, TX	4.0	3.0	2733	$3,500	$1.28	12d	1	0.18mi
2605 Starling St Denton, TX	5.0	3.0	2150	$2,850	$1.33	0d	1	0.25mi
2301 Ruff Rd Denton, TX	4.0	2.0	1914	$2,700	$1.41	26d	1	0.36mi
2201 Yellowhammer Rd Denton, TX	4.0	3.0	2874	$3,150	$1.10	26d	1	0.42mi
2704 Donella Dr Denton, TX	4.0	2.0	1901	$2,500	$1.32	45d	1	0.56mi
2200 Laurel St Denton, TX	3.0	2.0	1444	$2,195	$1.52	45d	1	0.66mi
1403 Kendolph Dr Denton, TX	3.0	2.0	1967	$2,975	$1.51	4d	1	0.97mi
1324 Norman St Denton, TX	4.0	2.0	1600	$1,895	$1.18	45d	1	1.10mi
3108 Spenrock Ct Denton, TX	4.0	2.5	2124	$2,200	$1.04	46d	1	1.16mi
3117 Kappwood Ct Denton, TX	4.0	2.5	1887	$2,125	$1.13	4d	1	1.18mi
3117 Kappwood Ct Denton, TX	4.0	2.5	1887	$2,125	$1.13	18d	1	1.18mi
3100 Hornbeam St Argyle, TX	3.0	2.5	2572	$2,550	$0.99	45d	1	1.19mi
1105 Neff St Denton, TX	4.0	2.0	1400	$2,099	$1.50	45d	1	1.20mi
1103 Neff St Denton, TX	4.0	2.0	1600	$2,099	$1.31	45d	1	1.21mi
1007 W Collins St Denton, TX	4.0	2.0	1696	$1,850	$1.09	20d	1	1.21mi
3121 Hornbeam St Argyle, TX	3.0	2.0	1852	$2,399	$1.30	4d	1	1.24mi
4512 Remuda Ln Argyle, TX	3.0	2.0	1737	$2,300	$1.32	45d	1	1.28mi
1112 Beechwood Dr Denton, TX	4.0	2.5	1606	$2,405	$1.50	45d	1	1.32mi
3128 Buckthorn Ln Argyle, TX	3.0	2.0	1845	$2,395	$1.30	45d	1	1.32mi
1029 Beechwood Dr Denton, TX	4.0	2.5	2105	$2,200	$1.05	45d	1	1.36mi
3312 Stonecrop Trl Argyle, TX	3.0	2.0	1737	$2,200	$1.27	26d	1	1.36mi
1120 Springcreek Dr Denton, TX	4.0	2.5	2698	$2,370	$0.88	14d	1	1.37mi
101 Daugherty St Denton, TX	4.0	4.0	1458	$694	$0.48	45d	1	1.38mi
4505 Merlot Dr Argyle, TX	4.0	2.5	2353	$2,350	$1.00	45d	1	1.42mi
1009 Springcreek Dr Denton, TX	4.0	2.0	1467	$1,970	$1.34	22d	1	1.42mi
1001 Springcreek Dr Denton, TX	4.0	2.0	1515	$2,235	$1.48	1d	1	1.43mi
3401 Aaron Pl Argyle, TX	3.0	2.5	1922	$2,500	$1.30	45d	1	1.48mi
5200 Woodway Dr Argyle, TX	4.0	3.0	2129	$2,900	$1.36	45d	1	1.48mi
5200 Woodway Dr Argyle, TX	4.0	3.0	2129	$2,600	$1.22	6d	1	1.48mi
3413 Aaron Pl Argyle, TX	3.0	2.5	1684	$2,250	$1.34	19d	1	1.49mi
3600 Aaron Pl Argyle, TX	3.0	2.5	1866	$2,350	$1.26	19d	1	1.49mi

HOA detail

• Monthly dues: $67 · $804/yr
• Likely covers: waterpool

Listing history 11 events

1. 2026-06-13
   statusdays on market $386,020 Pending 75 DOM
2. 2026-06-09
   days on market $386,020 Active 74 DOM
3. 2026-06-08
   days on market $386,020 Active 73 DOM
4. 2026-06-07
   days on market $386,020 Active 72 DOM
5. 2026-06-04
   days on market $386,020 Active 69 DOM
6. 2026-06-03
   days on market $386,020 Active 68 DOM
7. 2026-06-02
   days on market $386,020 Active 67 DOM
8. 2026-06-01
   days on market $386,020 Active 66 DOM
9. 2026-05-31
   days on market $386,020 Active 65 DOM
10. 2026-04-14
    price $386,020 1056-char remark

    Show marketing remark (1056 chars)

    D.R. Horton is now selling in the new phase at their fabulous community of Eagle Creek in Denton and Denton ISD!! Gorgeous open concept single Story 4 bedroom, 2 bath Kingston Floorplan-Elevation D, with an estimated Summer completion. Large Chef's Kitchen with seating Island, Quartz countertops, Pendant lights, abundant Cabinets, tiled Backsplash, built-in stainless steel Appliances and wide Pantry. Spacious Living and luxurious main Bedroom at the rear of the Home with dual sink Vanity, over sized Shower, Linen Closet and walk-in Closet. Quartz Countertops in Kitchen and vanities in both Baths. Luxury vinyl plank at Entry, Halls, Living, Kitchen and Wet areas plus America's Smart Home Technology. High-efficiency SEER HVAC System, Tankless Water Heater, covered back Patio, full gutters, front Coach Lights, 6 foot fenced backyard, landscape Pkg with full Sprinkler System and more! Community Playground, Club House and Pool. Close proximity to Downtown Denton, UNT, TWU, The Square, Rayzor Ranch Town Center and Restaurants, I-35E & I-35W.

11. 2026-03-26
    listed $385,685 Active 1056-char remark

    Show marketing remark (1056 chars)

    D.R. Horton is now selling in the new phase at their fabulous community of Eagle Creek in Denton and Denton ISD!! Gorgeous open concept single Story 4 bedroom, 2 bath Kingston Floorplan-Elevation D, with an estimated Summer completion. Large Chef's Kitchen with seating Island, Quartz countertops, Pendant lights, abundant Cabinets, tiled Backsplash, built-in stainless steel Appliances and wide Pantry. Spacious Living and luxurious main Bedroom at the rear of the Home with dual sink Vanity, over sized Shower, Linen Closet and walk-in Closet. Quartz Countertops in Kitchen and vanities in both Baths. Luxury vinyl plank at Entry, Halls, Living, Kitchen and Wet areas plus America's Smart Home Technology. High-efficiency SEER HVAC System, Tankless Water Heater, covered back Patio, full gutters, front Coach Lights, 6 foot fenced backyard, landscape Pkg with full Sprinkler System and more! Community Playground, Club House and Pool. Close proximity to Downtown Denton, UNT, TWU, The Square, Rayzor Ranch Town Center and Restaurants, I-35E & I-35W.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $30,864
• − Mortgage interest: −$21,623
• − Property taxes: −$5,790
• − Insurance: −$1,930
• − Repairs & maintenance: −$2,469
• − Management: −$2,469
• − HOA: −$804
• − Depreciation: −$11,230
• Taxable loss: −$15,452
• Est. tax savings @ 24.0%: +$3,708
• After-tax cash flow: $-4,726/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: Denton ISD
• NCES district ID: 4816740
• Math proficiency: 36% ▼ -18.00%
• Reading proficiency: 43% ▼ -9.00%
• Median HH income: $58,913
• Composite: 34.91/100
• National rank: #5075
• State rank: #383 of 826 in TX

Livability — Denton

• Score: 88/100
• State rank: #2
• US rank: #210

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Denton, TX
• County: Denton County · 901,654 people
• City population: 127,990
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 18,978
• Household income: $68,600
• Rent vs Own: 58.3% rent · 41.7% own
• Severe rent burden: 1268.0

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 0.67)
• Race & ethnicity: White 49% Hispanic / Latino 26% Two or more races 18% Black 17% Asian 2%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Italian 3% Slovak 2% Lithuanian 2%
• Foreign-born: 17% · Canada, China
• Languages at home: 76% English-only · Spanish 18% Arabic 3% Other Indo-European 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: ▼ -101.13%
• Current HPI: 290.7883
• Rent YoY: ▼ -3.40%
• 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

+0.1% since first listed

2 events — show timeline

• 2026-04-14 Price Changed $386,020 NTREIS
• 2026-03-26 Listed $385,685 NTREIS

Property tax history

-13.4%/yr

Latest (2025): $299 · +23.6% YoY. Source: county tax records.