501 Saddle Blanket Dr · Josephine, TX 75173

$231,940

3 bd · 2.0 ba · 1,253 sqft · SingleFamily · 82 Days on market

Built 2026 Excellent condition 7,405 sqft lot $185/sqft · 8% below area Est $253k · 8% under $92/mo HOA · 5% of rent ↓ 16% since listing

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Why this score? — see what drove the C- 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 +11.2/15.0
• Appreciation +10.0/10.0
• Cash flow +9.8/30.0
• Condition / age +4.8/5.0
• 1% rule +3.4/10.0
• Schools +3.2/10.0
• Livability +3.0/5.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0

Listing remarks MLS

This charming D. R. Horton Series home plan offers a blend of comfort and functionality, designed to accommodate a variety of lifestyles. The exterior of the home includes a custom and architecturally designed elevation. The front exterior of the home boasts divided light windows and a front facing 2-car garage door with decorative hardware and handles. Enter the home through the covered front porch that leads to the 8-foot, walnut gel-stained front door (decorative front door options are available for upgrade). Opening the door will lead you to a foyer entry that invites you to the rest of the home. The kitchen features 42" flat panel cabinets with hidden hinges, granite or quartz countertops, and stainless-steel appliances. The large kitchen island is the perfect size for meal prep with a built-in sink and dishwasher. There is also a large pantry for plenty of storage space. The large primary bedroom features an adjoined bathroom that will make getting ready in the mornings feel like a dream. The elongated vanity includes two sinks and a non-framed mirror. The primary bathroom also includes a walk-in shower and walk-in closet. This plan includes Energy Star features, ceramic tile flooring in all bathrooms, laminate wood plank in living areas, carpet in bedrooms, and an innovative tech package. Additional bonus features include gutters and a user-friendly smart home system. Photos shown here may not depict the specified home and features. Contact us today for more details!

Key facts

• Open floor plan
• Led lighting
• Island kitchen

Tags

• OPEN FLOOR PLAN
• ISLAND KITCHEN
• GRANITE COUNTERS
• LED LIGHTING
• FULL SPRINKLER SYSTEM
• COVERED PATIO

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $232k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-148 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $211k (9.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $196k (15.6% below list).
• Recommended offer: $196k (15.6% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 4.4% in Josephine — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 60/100 on livability (#1,076 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools F, amenities F, commute F.
• Community ISD (rural): math 30% / reading 38% proficiency, ranked #479 of 826 in TX (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 421 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 19,194 units permitted in Collin County in 2024 (3,988 in 5+ unit buildings).

Forward outlook

• In year one you build about $25k of equity ($2k loan paydown + $23k appreciation (10.0% local appreciation)).
• Collin County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $46k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $195,813 (15.6% 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 82 days. Have you received any prior offers? Is the seller open to a 16% 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.84% ✗
• Cap rate: 5.53%
• Cash-on-cash: -2.73%
• DSCR: 0.88
• GRM: 9.9

CMA / ARV

• ARV (median comp): $252,854
• List price: $231,940
• Delta: -8.27%
• 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
409 Silver Birch Dr	0.10mi	3/2.0	1,253 (0%)	5mo	$241,990	$193	91
408 Gooseberry Dr	0.05mi	3/2.0	1,253 (0%)	9mo	$233,990	$187	90
407 Gooseberry Dr	0.05mi	3/2.0	1,253 (0%)	10mo	$239,990	$192	89
409 English Oak Dr	0.16mi	3/2.0	1,253 (0%)	7mo	$235,990	$188	87
508 Honey Locust Dr	0.23mi	3/2.0	1,253 (0%)	11mo	$239,990	$192	80
412 Honey Locust Dr	0.23mi	3/2.0	1,253 (0%)	11mo	$239,990	$192	80
409 Saddle Blanket Dr	0.02mi	3/2.0	1,404 (+12%)	3mo	$270,990	$193	76
414 Honey Locust Dr	0.23mi	3/2.0	1,404 (+12%)	9mo	$276,820	$197	62
312 Honey Locust Dr	0.23mi	3/2.0	1,404 (+12%)	9mo	$283,990	$202	62
505 Honey Locust Dr	0.23mi	3/2.0	1,404 (+12%)	11mo	$273,820	$195	60
401 Honey Locust Dr	0.23mi	3/2.0	1,404 (+12%)	12mo	$265,320	$189	59
315 Rusted Rail Dr	0.74mi	3/2.0	1,297 (+4%)	7mo	$245,000	$189	54

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.3%
• Equity multiple: 2.80×
• Total profit: $116,983
• Equity at exit: $208,950

10-year hold

• IRR: 20.0%
• Equity multiple: 6.42×
• Total profit: $352,077
• Equity at exit: $450,608

Cash invested: $64,943 (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 75173

• Home prices YoY: 3.1%
• Active inventory: 421
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,958 high
• Mortgage (P&I): −$1,216
• Tax est. 1.5%: −$290 /mo · $3,479/yr
• Insurance: −$97
• HOA: −$92
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $-148

Break-even live

Break-even rent $2,145

Max offer price $210,530

Occupancy floor —

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: $57,985
• Closing costs: $6,958
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
504 Saddle Blanket Dr Nevada, TX	4.0	2.0	1649	$1,925	$1.17	6d	1	0.01mi
504 Saddle Blanket Dr Nevada, TX	4.0	2.0	1649	$1,949	$1.18	15d	1	0.01mi
214 Crooked Field Dr Royse City, TX	3.0	2.0	1398	$1,900	$1.36	24d	1	0.23mi
319 Plum Dr Nevada, TX	4.0	2.0	1587	$1,899	$1.20	10d	1	0.44mi
802 Turnbuckle Ct Royse City, TX	4.0	2.0	1577	$1,849	$1.17	44d	1	0.81mi
801 Meadow Creek Ln Josephine, TX	4.0	2.0	1757	$2,500	$1.42	5d	1	0.92mi
722 Windmill St Josephine, TX	4.0	2.0	1568	$2,190	$1.40	2d	1	0.94mi
1004 Cotton Gin Ct Royse City, TX	4.0	2.0	1875	$1,850	$0.99	13d	1	0.94mi
800 Windmill St Josephine, TX	4.0	2.0	1843	$2,100	$1.14	7d	1	0.94mi
1007 Cotton Gin Ct Royse City, TX	3.0	2.0	1611	$2,050	$1.27	44d	1	0.95mi
503 Cistern Way Royse City, TX	3.0	2.0	1294	$1,795	$1.39	2d	1	0.98mi
508 Windrow Dr Royse City, TX	3.0	2.0	1533	$1,875	$1.22	24d	1	0.98mi
508 Windrow Dr Royse City, TX	3.0	2.0	1533	$1,900	$1.24	44d	1	0.98mi
1503 Cotton Gin Ct Royse City, TX	3.0	2.0	1566	$2,200	$1.40	44d	1	1.02mi
306 E Cook St Josephine, TX	3.0	2.0	1817	$2,100	$1.16	1d	1	1.06mi
1208 Fieldstone Ct Royse City, TX	4.0	2.0	1835	$2,000	$1.09	44d	1	1.18mi
1910 Bailer Way Royse City, TX	3.0	2.0	1592	$1,995	$1.25	24d	1	1.48mi

HOA detail

• Monthly dues: $92 · $1,104/yr
• Likely covers: security

Listing history 26 events

1. 2026-06-15
   status $231,940 Pending 82 DOM
2. 2026-06-15
   days on market $231,940 Active 82 DOM
3. 2026-06-13
   days on market $231,940 Active 80 DOM
4. 2026-06-13
   days on market $231,940 Active 79 DOM
5. 2026-06-09
   days on market $231,940 Active 76 DOM
6. 2026-06-08
   days on market $231,940 Active 75 DOM
7. 2026-06-07
   days on market $231,940 Active 74 DOM
8. 2026-06-04
   days on market $231,940 Active 71 DOM
9. 2026-06-03
   days on market $231,940 Active 70 DOM
10. 2026-06-02
    days on market $231,940 Active 69 DOM
11. 2026-06-01
    days on market $231,940 Active 68 DOM
12. 2026-05-31
    days on market $231,940 Active 67 DOM
13. 2026-05-12
    price $231,940 1503-char remark

    Show marketing remark (1503 chars)

    This charming D. R. Horton Series home plan offers a blend of comfort and functionality, designed to accommodate a variety of lifestyles. The exterior of the home includes a custom and architecturally designed elevation. The front exterior of the home boasts divided light windows and a front facing 2-car garage door with decorative hardware and handles. Enter the home through the covered front porch that leads to the 8-foot, walnut gel-stained front door (decorative front door options are available for upgrade). Opening the door will lead you to a foyer entry that invites you to the rest of the home. The kitchen features 42" flat panel cabinets with hidden hinges, granite or quartz countertops, and stainless-steel appliances. The large kitchen island is the perfect size for meal prep with a built-in sink and dishwasher. There is also a large pantry for plenty of storage space. The large primary bedroom features an adjoined bathroom that will make getting ready in the mornings feel like a dream. The elongated vanity includes two sinks and a non-framed mirror. The primary bathroom also includes a walk-in shower and walk-in closet. This plan includes Energy Star features, ceramic tile flooring in all bathrooms, laminate wood plank in living areas, carpet in bedrooms, and an innovative tech package. Additional bonus features include gutters and a user-friendly smart home system. Photos shown here may not depict the specified home and features. Contact us today for more details!

14. 2026-05-11
    price $231,940 632-char remark

    Show marketing remark (632 chars)

    New! Spacious single story, with open floor plan! Three bedrooms, two full baths, with covered patio. Home includes, island kitchen, granite counters throughout, LED lighting, full sprinkler system, professionally engineered post tension foundation, and much more! Waverly Estates is a new D.R. Horton community in Josephine. The community is conveniently located just minutes from Interstate 30, providing easy access to Rockwall and the DFW Metroplex. Waverly Estates offers a variety of single-family homes to choose from. If you're looking for a new home in the Josephine area, Waverly Estates is the perfect community for you.

15. 2026-05-02
    status Active 1503-char remark

    Show marketing remark (1503 chars)

    This charming D. R. Horton Series home plan offers a blend of comfort and functionality, designed to accommodate a variety of lifestyles. The exterior of the home includes a custom and architecturally designed elevation. The front exterior of the home boasts divided light windows and a front facing 2-car garage door with decorative hardware and handles. Enter the home through the covered front porch that leads to the 8-foot, walnut gel-stained front door (decorative front door options are available for upgrade). Opening the door will lead you to a foyer entry that invites you to the rest of the home. The kitchen features 42" flat panel cabinets with hidden hinges, granite or quartz countertops, and stainless-steel appliances. The large kitchen island is the perfect size for meal prep with a built-in sink and dishwasher. There is also a large pantry for plenty of storage space. The large primary bedroom features an adjoined bathroom that will make getting ready in the mornings feel like a dream. The elongated vanity includes two sinks and a non-framed mirror. The primary bathroom also includes a walk-in shower and walk-in closet. This plan includes Energy Star features, ceramic tile flooring in all bathrooms, laminate wood plank in living areas, carpet in bedrooms, and an innovative tech package. Additional bonus features include gutters and a user-friendly smart home system. Photos shown here may not depict the specified home and features. Contact us today for more details!

16. 2026-05-02
    price $229,940 1503-char remark

    Show marketing remark (1503 chars)

    This charming D. R. Horton Series home plan offers a blend of comfort and functionality, designed to accommodate a variety of lifestyles. The exterior of the home includes a custom and architecturally designed elevation. The front exterior of the home boasts divided light windows and a front facing 2-car garage door with decorative hardware and handles. Enter the home through the covered front porch that leads to the 8-foot, walnut gel-stained front door (decorative front door options are available for upgrade). Opening the door will lead you to a foyer entry that invites you to the rest of the home. The kitchen features 42" flat panel cabinets with hidden hinges, granite or quartz countertops, and stainless-steel appliances. The large kitchen island is the perfect size for meal prep with a built-in sink and dishwasher. There is also a large pantry for plenty of storage space. The large primary bedroom features an adjoined bathroom that will make getting ready in the mornings feel like a dream. The elongated vanity includes two sinks and a non-framed mirror. The primary bathroom also includes a walk-in shower and walk-in closet. This plan includes Energy Star features, ceramic tile flooring in all bathrooms, laminate wood plank in living areas, carpet in bedrooms, and an innovative tech package. Additional bonus features include gutters and a user-friendly smart home system. Photos shown here may not depict the specified home and features. Contact us today for more details!

17. 2026-05-01
    price $229,940 632-char remark

    Show marketing remark (632 chars)

    New! Spacious single story, with open floor plan! Three bedrooms, two full baths, with covered patio. Home includes, island kitchen, granite counters throughout, LED lighting, full sprinkler system, professionally engineered post tension foundation, and much more! Waverly Estates is a new D.R. Horton community in Josephine. The community is conveniently located just minutes from Interstate 30, providing easy access to Rockwall and the DFW Metroplex. Waverly Estates offers a variety of single-family homes to choose from. If you're looking for a new home in the Josephine area, Waverly Estates is the perfect community for you.

18. 2026-04-27
    status Active 632-char remark

    Show marketing remark (632 chars)

    New! Spacious single story, with open floor plan! Three bedrooms, two full baths, with covered patio. Home includes, island kitchen, granite counters throughout, LED lighting, full sprinkler system, professionally engineered post tension foundation, and much more! Waverly Estates is a new D.R. Horton community in Josephine. The community is conveniently located just minutes from Interstate 30, providing easy access to Rockwall and the DFW Metroplex. Waverly Estates offers a variety of single-family homes to choose from. If you're looking for a new home in the Josephine area, Waverly Estates is the perfect community for you.

19. 2026-03-17
    historical 1503-char remark

    Show marketing remark (1503 chars)

    This charming D. R. Horton Series home plan offers a blend of comfort and functionality, designed to accommodate a variety of lifestyles. The exterior of the home includes a custom and architecturally designed elevation. The front exterior of the home boasts divided light windows and a front facing 2-car garage door with decorative hardware and handles. Enter the home through the covered front porch that leads to the 8-foot, walnut gel-stained front door (decorative front door options are available for upgrade). Opening the door will lead you to a foyer entry that invites you to the rest of the home. The kitchen features 42" flat panel cabinets with hidden hinges, granite or quartz countertops, and stainless-steel appliances. The large kitchen island is the perfect size for meal prep with a built-in sink and dishwasher. There is also a large pantry for plenty of storage space. The large primary bedroom features an adjoined bathroom that will make getting ready in the mornings feel like a dream. The elongated vanity includes two sinks and a non-framed mirror. The primary bathroom also includes a walk-in shower and walk-in closet. This plan includes Energy Star features, ceramic tile flooring in all bathrooms, laminate wood plank in living areas, carpet in bedrooms, and an innovative tech package. Additional bonus features include gutters and a user-friendly smart home system. Photos shown here may not depict the specified home and features. Contact us today for more details!

20. 2026-03-16
    status Pending 632-char remark

    Show marketing remark (632 chars)

    New! Spacious single story, with open floor plan! Three bedrooms, two full baths, with covered patio. Home includes, island kitchen, granite counters throughout, LED lighting, full sprinkler system, professionally engineered post tension foundation, and much more! Waverly Estates is a new D.R. Horton community in Josephine. The community is conveniently located just minutes from Interstate 30, providing easy access to Rockwall and the DFW Metroplex. Waverly Estates offers a variety of single-family homes to choose from. If you're looking for a new home in the Josephine area, Waverly Estates is the perfect community for you.

21. 2026-03-11
    price $223,990 632-char remark

    Show marketing remark (1503 chars)

    This charming D. R. Horton Series home plan offers a blend of comfort and functionality, designed to accommodate a variety of lifestyles. The exterior of the home includes a custom and architecturally designed elevation. The front exterior of the home boasts divided light windows and a front facing 2-car garage door with decorative hardware and handles. Enter the home through the covered front porch that leads to the 8-foot, walnut gel-stained front door (decorative front door options are available for upgrade). Opening the door will lead you to a foyer entry that invites you to the rest of the home. The kitchen features 42" flat panel cabinets with hidden hinges, granite or quartz countertops, and stainless-steel appliances. The large kitchen island is the perfect size for meal prep with a built-in sink and dishwasher. There is also a large pantry for plenty of storage space. The large primary bedroom features an adjoined bathroom that will make getting ready in the mornings feel like a dream. The elongated vanity includes two sinks and a non-framed mirror. The primary bathroom also includes a walk-in shower and walk-in closet. This plan includes Energy Star features, ceramic tile flooring in all bathrooms, laminate wood plank in living areas, carpet in bedrooms, and an innovative tech package. Additional bonus features include gutters and a user-friendly smart home system. Photos shown here may not depict the specified home and features. Contact us today for more details!

22. 2026-03-11
    price $223,990 1503-char remark

    Show marketing remark (1503 chars)

    This charming D. R. Horton Series home plan offers a blend of comfort and functionality, designed to accommodate a variety of lifestyles. The exterior of the home includes a custom and architecturally designed elevation. The front exterior of the home boasts divided light windows and a front facing 2-car garage door with decorative hardware and handles. Enter the home through the covered front porch that leads to the 8-foot, walnut gel-stained front door (decorative front door options are available for upgrade). Opening the door will lead you to a foyer entry that invites you to the rest of the home. The kitchen features 42" flat panel cabinets with hidden hinges, granite or quartz countertops, and stainless-steel appliances. The large kitchen island is the perfect size for meal prep with a built-in sink and dishwasher. There is also a large pantry for plenty of storage space. The large primary bedroom features an adjoined bathroom that will make getting ready in the mornings feel like a dream. The elongated vanity includes two sinks and a non-framed mirror. The primary bathroom also includes a walk-in shower and walk-in closet. This plan includes Energy Star features, ceramic tile flooring in all bathrooms, laminate wood plank in living areas, carpet in bedrooms, and an innovative tech package. Additional bonus features include gutters and a user-friendly smart home system. Photos shown here may not depict the specified home and features. Contact us today for more details!

23. 2026-02-25
    price $278,990 632-char remark

    Show marketing remark (632 chars)

    New! Spacious single story, with open floor plan! Three bedrooms, two full baths, with covered patio. Home includes, island kitchen, granite counters throughout, LED lighting, full sprinkler system, professionally engineered post tension foundation, and much more! Waverly Estates is a new D.R. Horton community in Josephine. The community is conveniently located just minutes from Interstate 30, providing easy access to Rockwall and the DFW Metroplex. Waverly Estates offers a variety of single-family homes to choose from. If you're looking for a new home in the Josephine area, Waverly Estates is the perfect community for you.

24. 2026-02-17
    price $278,990 1503-char remark

    Show marketing remark (1503 chars)

    This charming D. R. Horton Series home plan offers a blend of comfort and functionality, designed to accommodate a variety of lifestyles. The exterior of the home includes a custom and architecturally designed elevation. The front exterior of the home boasts divided light windows and a front facing 2-car garage door with decorative hardware and handles. Enter the home through the covered front porch that leads to the 8-foot, walnut gel-stained front door (decorative front door options are available for upgrade). Opening the door will lead you to a foyer entry that invites you to the rest of the home. The kitchen features 42" flat panel cabinets with hidden hinges, granite or quartz countertops, and stainless-steel appliances. The large kitchen island is the perfect size for meal prep with a built-in sink and dishwasher. There is also a large pantry for plenty of storage space. The large primary bedroom features an adjoined bathroom that will make getting ready in the mornings feel like a dream. The elongated vanity includes two sinks and a non-framed mirror. The primary bathroom also includes a walk-in shower and walk-in closet. This plan includes Energy Star features, ceramic tile flooring in all bathrooms, laminate wood plank in living areas, carpet in bedrooms, and an innovative tech package. Additional bonus features include gutters and a user-friendly smart home system. Photos shown here may not depict the specified home and features. Contact us today for more details!

25. 2026-02-11
    listed $277,490 Active 632-char remark

    Show marketing remark (632 chars)

    New! Spacious single story, with open floor plan! Three bedrooms, two full baths, with covered patio. Home includes, island kitchen, granite counters throughout, LED lighting, full sprinkler system, professionally engineered post tension foundation, and much more! Waverly Estates is a new D.R. Horton community in Josephine. The community is conveniently located just minutes from Interstate 30, providing easy access to Rockwall and the DFW Metroplex. Waverly Estates offers a variety of single-family homes to choose from. If you're looking for a new home in the Josephine area, Waverly Estates is the perfect community for you.

26. 2026-02-07
    listed $277,490 Active 1503-char remark

    Show marketing remark (1503 chars)

    This charming D. R. Horton Series home plan offers a blend of comfort and functionality, designed to accommodate a variety of lifestyles. The exterior of the home includes a custom and architecturally designed elevation. The front exterior of the home boasts divided light windows and a front facing 2-car garage door with decorative hardware and handles. Enter the home through the covered front porch that leads to the 8-foot, walnut gel-stained front door (decorative front door options are available for upgrade). Opening the door will lead you to a foyer entry that invites you to the rest of the home. The kitchen features 42" flat panel cabinets with hidden hinges, granite or quartz countertops, and stainless-steel appliances. The large kitchen island is the perfect size for meal prep with a built-in sink and dishwasher. There is also a large pantry for plenty of storage space. The large primary bedroom features an adjoined bathroom that will make getting ready in the mornings feel like a dream. The elongated vanity includes two sinks and a non-framed mirror. The primary bathroom also includes a walk-in shower and walk-in closet. This plan includes Energy Star features, ceramic tile flooring in all bathrooms, laminate wood plank in living areas, carpet in bedrooms, and an innovative tech package. Additional bonus features include gutters and a user-friendly smart home system. Photos shown here may not depict the specified home and features. Contact us today for more details!

ⓘ 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: $23,498
• − Mortgage interest: −$12,992
• − Property taxes: −$3,479
• − Insurance: −$1,160
• − Repairs & maintenance: −$1,880
• − Management: −$1,880
• − HOA: −$1,104
• − Depreciation: −$6,747
• Taxable loss: −$5,744
• Est. tax savings @ 24.0%: +$1,379
• After-tax cash flow: $-397/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 · 1 photo

Excellent 95/100 None rehab

This single-story home in Waverly Estates is in excellent condition with no visible repairs needed. It offers a spacious floor plan, granite counters, and a full sprinkler system, making it a great investment opportunity.

Value-add opportunities

• Both Paint exterior and interior — Enhances curb appeal and interior aesthetics
• Both Install smart home devices — Improves convenience and energy efficiency
• Both Add smart thermostat — Enhances comfort and energy savings
• Both Upgrade lighting fixtures — Improves ambiance and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both Install smart home devices — Improves convenience and energy efficiency ↑
• Both Add smart thermostat — Enhances comfort and energy savings ↑
• Both Upgrade lighting fixtures — Improves ambiance and energy efficiency ↑

ⓘ 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: Community ISD
• NCES district ID: 4814850
• Math proficiency: 30% ▼ -23.00%
• Reading proficiency: 38% ▼ -11.00%
• Median HH income: $71,841
• Composite: 31.58/100
• National rank: #5951
• State rank: #479 of 826 in TX

Livability — Josephine

• Score: 60/100
• State rank: #1076
• US rank: #19105

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 9,284

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 28% Two or more races 15% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 26%
• Common ancestry: Slovak 2% Serbian 1% Iranian 1%
• Foreign-born: 17% · Canada, Jamaica
• Languages at home: 74% English-only · Spanish 24% Arabic 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: ▲ 10.09%
• Current HPI: 331.12
• Rent YoY: —
• Metro: —
• 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

-16.4% since first listed

14 events — show timeline

• 2026-05-12 Price Changed $231,940 Zillow
• 2026-05-11 Price Changed $231,940 NTREIS
• 2026-05-02 Price Changed $229,940 Zillow
• 2026-05-02 Relisted — Zillow
• 2026-05-01 Price Changed $229,940 NTREIS
• 2026-04-27 Relisted — NTREIS
• 2026-03-17 Delisted — Zillow
• 2026-03-16 Pending — NTREIS
• 2026-03-11 Price Changed $223,990 NTREIS
• 2026-03-11 Price Changed $223,990 Zillow
• 2026-02-25 Price Changed $278,990 NTREIS
• 2026-02-17 Price Changed $278,990 Zillow
• 2026-02-11 Listed $277,490 NTREIS
• 2026-02-07 Listed $277,490 Zillow