Spring Cress II Plan · Waxahachie, TX 75165

$519,990

4 bd · 3.5 ba · 3,695 sqft · SingleFamily · 825 Days on market

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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).

• Cash flow +10.7/30.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• 1% rule +3.1/10.0
• DSCR +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

The Classic Series Spring Cress II floor plan is a two-story home with four bedrooms, three and a half bathrooms, dining room, study, and two media rooms. Lots of flexibility with this floor plan that gives you the option for bedroom 5 with a full bath at the dining room and an optional bedroom 6 with a full bath at the downstairs media room. There is also an optional mini garage in lieu of the dining room. Contact us or visit our model home for more information about this and other available plans.

Key facts

• 2 garage spots
• Listed 825 days

🏗️ New construction. The $519,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $548,587.

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath single-family listed at $520k.

Deal economics

• At list price, monthly cash flow is $-262 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $511k (1.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $447k (14.1% below list).
• Recommended offer: $447k (14.1% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 3.3% in Waxahachie — 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 78/100 on livability (#71 in TX, #2,592 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: commute F.
• Waxahachie ISD (suburban): math 45% / reading 44% proficiency, ranked #253 of 826 in TX (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Felty El (math 60% / reading 50%, grade C, #602 of 4,322 statewide, top 14%, 570 students, 34% FRL); Howard J H (math 45% / reading 41%, grade D-, #540 of 1,662 statewide, top 33%, 758 students, 49% FRL); Waxahachie H S (math 38% / reading 46%, grade F, #730 of 1,632 statewide, top 47%, 2,963 students, 45% FRL) — zoned schools at 43% FRL track the district average.
• Market conditions: Rents rising (+3.4%/yr); 865 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 3,016 units permitted in Ellis County in 2024 (20 in 5+ unit buildings).
• At $4,467/mo this rent would consume 62% of the median local household income ($86k/yr) (locally 1365% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• Ellis County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 825 days — a 12% lower offer ($458k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

Recommended offer $446,671 (14.1% 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 825 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.81% ✗
• Cap rate: 5.72%
• Cash-on-cash: -2.05%
• DSCR: 0.91
• GRM: 10.2

CMA / ARV

• ARV (median comp): $548,587
• List price: $519,990
• Delta: -5.21%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
643 Sirius Dr	0.14mi	5/4.0 (+1)	3,695 (0%)	8mo	$535,990	$145	80
195 Memory Ln	0.21mi	5/4.0 (+1)	3,696 (0%)	9mo	$535,036	$145	75
635 Sirius Dr	0.16mi	4/3.5	3,435 (-7%)	9mo	$543,522	$158	73
162 Morning Light Ln	0.13mi	5/4.0 (+1)	3,532 (-4%)	8mo	$534,900	$151	72
628 Sirius Dr	0.20mi	5/4.0 (+1)	3,479 (-6%)	3mo	$534,651	$154	72
127 Tetrad Cir	0.44mi	4/3.5	3,736 (+1%)	8mo	$644,508	$173	71
142 Morning Light Ln	0.21mi	4/3.5	3,430 (-7%)	13mo	$541,470	$158	68
621 Sagebrush Ln	0.24mi	4/3.0	3,285 (-11%)	6mo	$525,292	$160	64
1244 Broadhead Rd	0.33mi	5/4.0 (+1)	4,151 (+12%)	2mo	$875,000	$211	55
523 Stillwater Dr	0.47mi	4/3.0	3,245 (-12%)	3mo	$499,900	$154	53
260 Prairie Ln	0.71mi	4/3.5	3,451 (-7%)	13mo	$489,990	$142	45
208 Arborside Dr	0.68mi	5/3.5 (+1)	3,269 (-12%)	10mo	$449,900	$138	36

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 · 3.4% rent growth · sell at horizon

5-year hold

• IRR: -19.2%
• Equity multiple: 0.32×
• Total profit: $-103,739
• Equity at exit: $81,796

10-year hold

• IRR: -11.1%
• Equity multiple: 0.32×
• Total profit: $-104,119
• Equity at exit: $47,432

Cash invested: $153,604 (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 75165

• Home prices YoY: -24.5%
• Rents YoY: 3.4%
• Active inventory: 865
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $4,467 medium
• Mortgage (P&I): −$2,877
• Tax est. 1.5%: −$686 /mo · $8,229/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$938
• Net cashflow: $-262

Break-even live

Break-even rent $4,799

Max offer price $510,609

Occupancy floor —

Sensitivity live

Price	-10% $117	-5% $-73	+0% $-262	+5% $-452	+10% $-642
Rent	-10% $-615	-5% $-439	+0% $-262	+5% $-86	+10% $90
Rate	-1.0pp $14	-0.5pp $-123	base $-262	+0.5pp $-405	+1.0pp $-549

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: $137,147
• Closing costs: $16,458
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1107 Wheatland Ter Waxahachie, TX	4.0	2.5	2602	$3,000	$1.15	45d	1	0.66mi
213 Nocona Dr Waxahachie, TX	5.0	2.0	2516	$9,750	$3.88	45d	1	0.95mi
508 Bush Ave Waxahachie, TX	5.0	3.5	3269	$3,750	$1.15	21d	1	1.46mi

Listing history 20 events

1. 2026-06-21
   days on market $519,990 Active 825 DOM
2. 2026-06-18
   days on market $519,990 Active 822 DOM
3. 2026-06-17
   days on market $519,990 Active 821 DOM
4. 2026-06-16
   days on market $519,990 Active 820 DOM
5. 2026-06-15
   days on market $519,990 Active 819 DOM
6. 2026-06-13
   days on market $519,990 Active 817 DOM
7. 2026-06-13
   days on market $519,990 Active 816 DOM
8. 2026-06-09
   days on market $519,990 Active 813 DOM
9. 2026-06-08
   days on market $519,990 Active 812 DOM
10. 2026-06-07
    days on market $519,990 Active 811 DOM
11. 2026-06-04
    days on market $519,990 Active 808 DOM
12. 2026-06-03
    days on market $519,990 Active 807 DOM
13. 2026-06-02
    days on market $519,990 Active 806 DOM
14. 2026-06-02
    price $519,990 Active 805 DOM
15. 2026-06-01
    days on market $547,990 Active 805 DOM
16. 2026-05-31
    days on market $547,990 Active 804 DOM
17. 2025-12-17
    price $547,990 504-char remark

    Show marketing remark (504 chars)

    The Classic Series Spring Cress II floor plan is a two-story home with four bedrooms, three and a half bathrooms, dining room, study, and two media rooms. Lots of flexibility with this floor plan that gives you the option for bedroom 5 with a full bath at the dining room and an optional bedroom 6 with a full bath at the downstairs media room. There is also an optional mini garage in lieu of the dining room. Contact us or visit our model home for more information about this and other available plans.

18. 2024-04-11
    status Active 504-char remark

    Show marketing remark (504 chars)

    The Classic Series Spring Cress II floor plan is a two-story home with four bedrooms, three and a half bathrooms, dining room, study, and two media rooms. Lots of flexibility with this floor plan that gives you the option for bedroom 5 with a full bath at the dining room and an optional bedroom 6 with a full bath at the downstairs media room. There is also an optional mini garage in lieu of the dining room. Contact us or visit our model home for more information about this and other available plans.

19. 2024-04-01
    historical 504-char remark

    Show marketing remark (504 chars)

    The Classic Series Spring Cress II floor plan is a two-story home with four bedrooms, three and a half bathrooms, dining room, study, and two media rooms. Lots of flexibility with this floor plan that gives you the option for bedroom 5 with a full bath at the dining room and an optional bedroom 6 with a full bath at the downstairs media room. There is also an optional mini garage in lieu of the dining room. Contact us or visit our model home for more information about this and other available plans.

20. 2024-03-08
    listed $525,990 Active 504-char remark

    Show marketing remark (504 chars)

    The Classic Series Spring Cress II floor plan is a two-story home with four bedrooms, three and a half bathrooms, dining room, study, and two media rooms. Lots of flexibility with this floor plan that gives you the option for bedroom 5 with a full bath at the dining room and an optional bedroom 6 with a full bath at the downstairs media room. There is also an optional mini garage in lieu of the dining room. Contact us or visit our model home for more information about this and other available plans.

ⓘ 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: $53,601
• − Mortgage interest: −$30,729
• − Property taxes: −$8,229
• − Insurance: −$2,743
• − Repairs & maintenance: −$4,288
• − Management: −$4,288
• − Depreciation: −$15,959
• Taxable loss: −$12,636
• Est. tax savings @ 24.0%: +$3,033
• After-tax cash flow: $-117/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: Waxahachie ISD
• NCES district ID: 4844730
• Math proficiency: 45% ▼ -7.00%
• Reading proficiency: 44% ▼ -6.00%
• Median HH income: $59,434
• Composite: 39.14/100
• National rank: #4034
• State rank: #253 of 826 in TX

Livability — Waxahachie

• Score: 78/100
• State rank: #71
• US rank: #2592

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Ellis County · 199,237 people
• City population: 67,417
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 53,513
• Household income: $86,391
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1365.0

Population outlook (Ellis County) Hauer SSP2

• Today (2025): 194,556 people
• By 2030: 209,679 · +7.8%
• By 2040: 238,837 · +22.8%
• By 2050: 265,451 · +36.4%
• By 2075: 326,571 · +67.9%
• By 2100: 362,156 · +86.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 56% Hispanic / Latino 26% Black 14% Two or more races 13%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 2%
• Foreign-born: 7% · Canada
• Languages at home: 84% English-only · Spanish 15%

Political lean MEDSL · Ellis

• 2024 margin: Solid R (+31.1) · D 34.0% · R 65.1%
• 2008→2024 swing: +11.2pp toward D · 2008: -42.2pp · 2024: -31.1pp
• All cycles: 2024: R+31.1 2020: R+34.1 2016: R+45.4 2012: R+47.5 2008: R+42.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -82.58%
• Current HPI: 255.0247
• 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

+4.2% since first listed

4 events — show timeline

• 2025-12-17 Price Changed $547,990 Zillow
• 2024-04-11 Relisted — Zillow
• 2024-04-01 Delisted — Zillow
• 2024-03-08 Listed $525,990 Zillow