803 Armadillo St · Princeton, TX 75407

$139,995

3 bd · 2.0 ba · 1,904 sqft · Manufactured · 44 Days on market

Built 2026 Good condition $74/sqft · 59% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Condition / age +4.0/5.0
• Livability +3.1/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

This exceptional 1,904-square-foot home offers a refined blend of modern comfort and understated luxury, setting it apart from the rest. The open-concept design is ideal for both elegant entertaining and everyday living, featuring a spacious kitchen with abundant cabinetry, expansive counter space, and a statement island perfect for gathering. The private master suite delivers a spa-inspired retreat with a soaking tub, separate walk-in shower, and generous closet space. Two additional bedrooms and a full bath provide flexibility for guests, family, or a home office, while added features like a walk-in pantry and utility room enhance both convenience and function. Located in one of Princeton

Key facts

• 3 parking spots
• Built 2026
• Listed 44 days

Property features AI

Finance

• Other: Address: 803 Armadillo St, Princeton TX 75407; Status: Active; Plan name: Charleston; Inventory type: Spec
• Financial info: List price $139,995

Exterior

• Parking: 3 parking spaces
• Utilities: Electric heating; Central air conditioning
• Home design: Single-family home (Charleston plan); Spec home
• Construction: Living area approximately 1904; Built using standard residential construction
• Exterior features: Shake roof

Interior

• Kitchen: Includes refrigerator and dishwasher
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric forced-air heating; Central air conditioning; Ceiling fans
• Interior features: Refrigerator; Dishwasher

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $140k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $717 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.4% 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.

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: Smith El (math 53% / reading 48%, grade D+, #833 of 4,322 statewide, top 20%, 683 students, 54% 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 59% 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 21d 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 $968 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $39k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($136k) 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $135,795 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.52% ✓
• Cap rate: 12.44%
• Cash-on-cash: 21.96%
• DSCR: 1.98
• GRM: 5.5

CMA / ARV

• ARV (median comp): $342,391
• List price: $139,995
• Delta: -59.11%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 11.2%
• Equity multiple: 1.43×
• Total profit: $16,791
• Equity at exit: $20,874

10-year hold

• IRR: 17.7%
• Equity multiple: 2.26×
• Total profit: $49,435
• Equity at exit: $12,104

Cash invested: $39,199 (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: 5.5×

Monthly cashflow live

• Estimated rent: $2,133 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,100/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$448
• Net cashflow: $717

Break-even live

Break-even rent $1,225

Max offer price $139,995

Occupancy floor 61%

Sensitivity live

Price	-10% $814	-5% $766	+0% $717	+5% $669	+10% $621
Rent	-10% $549	-5% $633	+0% $717	+5% $802	+10% $886
Rate	-1.0pp $788	-0.5pp $753	base $717	+0.5pp $681	+1.0pp $644

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: $34,999
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1605 Fox DR Princeton, TX	3.0	2.0	1435	$2,208	$1.54	0d	11	0.02mi
424 Madison Way Princeton, TX	4.0	3.0	2258	$2,350	$1.04	45d	1	0.20mi
514 Virginia Way Princeton, TX	4.0	2.0	1980	$2,200	$1.11	6d	1	0.25mi
512 Virginia Way Princeton, TX	3.0	2.5	2133	$2,150	$1.01	26d	1	0.25mi
625 Delaware Ave Princeton, TX	3.0	2.5	1920	$2,000	$1.04	4d	1	0.26mi
508 Virginia Way Princeton, TX	4.0	2.0	1900	$2,200	$1.16	14d	1	0.27mi
1609 Washington St Princeton, TX	4.0	2.5	2182	$2,150	$0.99	0d	1	0.27mi
617 Delaware Ave Princeton, TX	3.0	2.0	1407	$1,749	$1.24	7d	1	0.28mi
622 Delaware Ave Princeton, TX	3.0	2.5	1633	$1,850	$1.13	23d	1	0.28mi
1414 Windermere Way Princeton, TX	3.0	2.5	1635	$1,945	$1.19	0d	1	0.29mi
613 Delaware Ave Princeton, TX	3.0	2.5	1920	$1,950	$1.02	26d	1	0.29mi
1411 Windermere Way Princeton, TX	4.0	2.5	2323	$2,099	$0.90	7d	1	0.29mi
1805 Washington St Princeton, TX	3.0	2.0	1437	$1,775	$1.24	45d	1	0.31mi
1104 Witherspoon Ln Princeton, TX	4.0	3.0	1845	$2,200	$1.19	45d	1	0.31mi
619 Colgate Cir Princeton, TX	4.0	2.5	2182	$2,295	$1.05	45d	1	0.31mi
1710 Washington St Princeton, TX	3.0	2.0	1437	$1,770	$1.23	3d	1	0.32mi
1421 Butler Ave Princeton, TX	3.0	2.5	2225	$1,999	$0.90	26d	1	0.32mi
603 Delaware Ave Princeton, TX	3.0	2.5	1633	$1,897	$1.16	7d	1	0.32mi
1802 Washington St Princeton, TX	3.0	2.5	1920	$1,950	$1.02	26d	1	0.33mi
804 Princeton Hts Princeton, TX	3.0	2.5	2232	$2,225	$1.00	7d	1	0.33mi
604 Princeton Hts Princeton, TX	3.0–5.0	2.0–2.5	1882	$2,045	$1.09	0d	1	0.33mi
611 Colgate Cir Princeton, TX	3.0	2.5	1920	$2,500	$1.30	45d	1	0.33mi
718 Declaration Dr Princeton, TX	4.0	2.0	1991	$2,195	$1.10	45d	1	0.35mi
1411 Butler Ave Princeton, TX	4.0	3.0	2323	$2,399	$1.03	5d	1	0.36mi
907 Princeton Hts Princeton, TX	3.0	2.5	1627	$1,995	$1.23	26d	1	0.39mi
1709 Chapel Hill Rd Princeton, TX	3.0	2.5	1633	$1,695	$1.04	45d	1	0.39mi
1106 Princeton Hts Princeton, TX	3.0	2.0	1399	$1,795	$1.28	3d	1	0.40mi
1818 Marquette Dr Princeton, TX	3.0	2.5	1633	$1,800	$1.10	45d	1	0.40mi
1809 Chapel Hill Rd Princeton, TX	4.0	2.5	2121	$2,100	$0.99	6d	1	0.41mi
1702 Chapel Hill Rd Princeton, TX	4.0	2.5	2121	$1,995	$0.94	9d	1	0.41mi
1708 Chapel Hill Rd Princeton, TX	3.0	2.5	1826	$1,850	$1.01	5d	1	0.41mi
603 Charity Dr Princeton, TX	4.0	2.5	2252	$2,300	$1.02	45d	1	0.42mi
1819 Chapel Hill Rd Princeton, TX	3.0	2.0	1437	$1,700	$1.18	45d	1	0.42mi
1901 Chapel Hill Rd Princeton, TX	3.0	2.5	1605	$1,750	$1.09	20d	1	0.43mi
410 Forest St Princeton, TX	3.0	2.0	1412	$1,800	$1.27	9d	1	0.45mi
1906 Chapel Hill Rd Princeton, TX	3.0	2.5	1633	$1,995	$1.22	45d	1	0.46mi
1211 Princeton Hts Princeton, TX	3.0	2.0	1401	$1,995	$1.42	45d	1	0.46mi
1211 Princeton Hts Princeton, TX	3.0	2.0	1401	$1,770	$1.26	19d	1	0.46mi
2004 Hancock Cir Princeton, TX	4.0	3.0	2258	$1,995	$0.88	14d	1	0.48mi
1210 Bullock Dr Princeton, TX	3.0	3.0	1627	$1,850	$1.14	45d	1	0.48mi

Listing history 16 events

1. 2026-06-21
   days on market $139,995 Active 44 DOM
2. 2026-06-18
   days on market $139,995 Active 41 DOM
3. 2026-06-17
   days on market $139,995 Active 40 DOM
4. 2026-06-16
   days on market $139,995 Active 39 DOM
5. 2026-06-15
   days on market $139,995 Active 38 DOM
6. 2026-06-13
   days on market $139,995 Active 36 DOM
7. 2026-06-13
   days on market $139,995 Active 35 DOM
8. 2026-06-09
   days on market $139,995 Active 32 DOM
9. 2026-06-08
   days on market $139,995 Active 31 DOM
10. 2026-06-07
    days on market $139,995 Active 30 DOM
11. 2026-06-04
    days on market $139,995 Active 27 DOM
12. 2026-06-03
    days on market $139,995 Active 26 DOM
13. 2026-06-02
    days on market $139,995 Active 25 DOM
14. 2026-06-01
    days on market $139,995 Active 24 DOM
15. 2026-05-31
    days on market $139,995 Active 23 DOM
16. 2026-05-09
    listed $139,995 Active 1268-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 · 21 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: $25,594
• − Mortgage interest: −$7,842
• − Property taxes: −$2,100
• − Insurance: −$700
• − Repairs & maintenance: −$2,047
• − Management: −$2,047
• − Depreciation: −$4,073
• Taxable income: $6,784
• Est. tax owed @ 24.0%: −$1,628
• After-tax cash flow: $6,981/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 · 20 photos

Good 80/100 Cosmetic rehab

This well-maintained, modern home with good condition and minimal repairs needed is ready for a new owner. It offers a spacious kitchen, two bathrooms, and a private master suite with a spa-inspired retreat. The home is located in a desirable neighborhood with a well-maintained lawn and landscaping.

Value-add opportunities

• Both painting interior walls — fresh paint enhances curb appeal and interior aesthetics
• Both replacing window treatments — new blinds or curtains improve light control and aesthetics
• Resale upgrading kitchen appliances — newer appliances can increase home's value
• Resale upgrading bathroom fixtures — modern fixtures can increase home's value

Renovation cost estimate screening

Value-add ROI direction

• Both painting interior walls — fresh paint enhances curb appeal and interior aesthetics ↑
• Both replacing window treatments — new blinds or curtains improve light control and aesthetics ↑
• Resale upgrading kitchen appliances — newer appliances can increase home's value ↑
• Resale upgrading bathroom fixtures — modern fixtures can increase home's value ↑

ⓘ 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