122 Mcgee St · Princeton, TX 75407

$142,900

3 bd · 1.0 ba · 1,296 sqft · SingleFamily public records · 13 Days on market

Built 1983 9,148 sqft lot $110/sqft · 44% below area Est $257k · 44% under ↓ 1% since listing

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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 +26.4/30.0
• ARV discount +15.0/15.0
• DSCR +9.0/10.0
• 1% rule +8.0/10.0
• Schools +4.2/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Excellent opportunity to secure a value-add property in one of Princeton’s fastest growing corridors near Hwy 380. Positioned in an area transitioning toward commercial growth with Highway Commercial zoning, this property offers strong potential for investors, landlords, business owners, or future redevelopment. The home features 3 bedrooms, 1 bathroom, 2 living areas, covered parking, and a functional layout with flexibility for a variety of future uses. Previously tenant occupied for several years with strong long-term investment potential and opportunity for future value growth. Surrounded by ongoing development, retail growth, and commercial expansion, this property is ideally loc

Key facts

• Functional layout
• 9,148 sq ft lot
• 2 parking spots

Tags

• HIGHWAY COMMERCIAL ZONING
• STRONG POTENTIAL FOR INVESTORS
• FUNCTIONAL LAYOUT
• EASY ACCESS TO HWY 380

Property features AI

Finance

• Financial info: Accepting Cash and Conventional offers
• HOA & community: No HOA / association

Exterior

• Parking: Covered carport (2 spaces); Driveway parking
• Security: Smoke detector(s)
• Utilities: City water; City sewer; No municipal utility district
• Home design: Single-family residence; Attached property; One story; Built in 1983
• Construction: Siding exterior; Composition/shingle roof; Slab foundation
• Exterior features: Covered front porch; Covered patio; Storage; Wood fencing in back yard; Partially wooded and grassed yard; Interior lot; Easements: other

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator; Vented exhaust fan; Pantry; Eat-in layout
• Bedrooms: 3 bedrooms (all on main level)
• Flooring: Tile; Vinyl
• Bathrooms: 1 full bathroom (on main level)
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Eat-in kitchen; Pantry; High-speed internet available; Two living areas; One dining area; 9 total rooms; Fireplace in family room (wood burning)
• Laundry & utility: Utility room with washer hookup

🏷️ Possibly a rental listed for sale. The $142,900 price doesn't fit this home's estimated sale value (~$256,964) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $143k.

Deal economics

• At list price, monthly cash flow is $375 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $143k).
• Cap rate 9.4% 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: Lacy El (math 44% / reading 44%, grade F, #1,243 of 4,322 statewide, top 29%, 670 students, 59% FRL) — zoned schools at 59% FRL track the district average.
• Market conditions: Rents soft (-1.0%/yr); 1409 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $988 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.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 12y 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.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $142,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.30% ✓
• Cap rate: 9.44%
• Cash-on-cash: 11.26%
• DSCR: 1.50
• GRM: 6.4

CMA / ARV

• ARV (median comp): $256,964
• List price: $142,900
• Delta: -44.39%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
100 E Brown St	0.03mi	3/1.0	1,196 (-8%)	0mo	$139,900	$117	85
171 Town Park Ave	0.19mi	3/2.0	1,277 (-2%)	2mo	$289,940	$227	83
215 N 2nd St	0.11mi	3/2.0	1,380 (+6%)	1mo	$245,000	$178	79
304 E Hazelwood St	0.29mi	3/2.0	1,256 (-3%)	5mo	$249,900	$199	73
211 Jefferson Ave	0.24mi	3/2.0	1,242 (-4%)	8mo	$229,900	$185	72
232 Town Park Ave	0.30mi	3/2.0	1,381 (+7%)	6mo	$289,980	$210	66
204 Griffith	0.26mi	3/2.0	1,431 (+10%)	3mo	$229,970	$161	64
211 Griffith Dr	0.27mi	3/2.5	1,431 (+10%)	2mo	$229,970	$161	63
202 Oxford Loop	0.51mi	3/2.0	1,332 (+3%)	10mo	$275,000	$206	60
212 Griffith Dr	0.28mi	3/2.5	1,431 (+10%)	8mo	$249,980	$175	57
214 Griffith Dr	0.29mi	3/2.5	1,431 (+10%)	8mo	$249,980	$175	56
405 Everglades St	0.70mi	3/2.0	1,438 (+11%)	5mo	$262,000	$182	41

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -3.2%
• Equity multiple: 0.89×
• Total profit: $-4,590
• Equity at exit: $21,307

10-year hold

• IRR: 2.5%
• Equity multiple: 1.15×
• Total profit: $6,175
• Equity at exit: $12,355

Cash invested: $40,012 (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: 1409
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,851 high
• Mortgage (P&I): −$749
• Tax from tax record: −$278 /mo · $3,341/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $375

Break-even live

Break-even rent $1,376

Max offer price $142,900

Occupancy floor 75%

Sensitivity live

Price	-10% $456	-5% $416	+0% $375	+5% $335	+10% $294
Rent	-10% $229	-5% $302	+0% $375	+5% $448	+10% $522
Rate	-1.0pp $447	-0.5pp $412	base $375	+0.5pp $338	+1.0pp $301

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: $35,725
• Closing costs: $4,287
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 E Brown St Princeton, TX	3.0	1.0	1196	$2,870	$2.40	2d	1	0.03mi
101 Teakwood Dr Princeton, TX	4.0	2.0	1812	$2,000	$1.10	23d	1	0.18mi
228 N 4th St Princeton, TX	3.0	2.0	1466	$1,450	$0.99	44d	1	0.22mi
226 Griffith Dr Princeton, TX	3.0	2.5	1339	$1,675	$1.25	25d	1	0.30mi
325 Allenwood Dr Princeton, TX	3.0	1.5	1008	$1,900	$1.88	44d	1	0.30mi
236 Cr-454 Princeton, TX	3.0	2.5	1680	$2,030	$1.21	0d	1	0.36mi
414 E Hazelwood St Princeton, TX	3.0	2.0	1328	$1,595	$1.20	25d	1	0.38mi
724 Prairie Creek Dr Princeton, TX	2.0	1.0	914	$1,250	$1.37	44d	1	0.40mi
742 Prairie Creek Dr Princeton, TX	2.0	1.0	935	$1,350	$1.44	14d	1	0.44mi
600 Jefferson Ave Princeton, TX	3.0	2.0	1300	$1,800	$1.38	20d	1	0.45mi
114 Prairie Creek Cir Princeton, TX	3.0	1.0	1043	$1,550	$1.49	44d	1	0.46mi
502 E Hazelwood St Princeton, TX	3.0	2.0	1295	$1,550	$1.20	44d	1	0.47mi
512 E Hazelwood St Unit A Princeton, TX	3.0	2.0	1295	$1,349	$1.04	44d	1	0.50mi
514 E Hazelwood St Princeton, TX	3.0	2.0	1380	$1,475	$1.07	0d	1	0.50mi
514 E Hazelwood St Princeton, TX	3.0	2.0	1380	$1,475	$1.07	25d	1	0.50mi
514 E Hazelwood St Unit B Princeton, TX	3.0	2.0	1380	$1,495	$1.08	44d	1	0.50mi
514 E Hazelwood St Unit B Princeton, TX	3.0	2.0	1380	$1,475	$1.07	8d	1	0.50mi
912 N 4th St Princeton, TX	4.0	2.0	1448	$2,149	$1.48	0d	1	0.58mi
1008 N 4th St Princeton, TX	3.0	2.0	1245	$1,761	$1.41	0d	1	0.61mi
406 Kingsbury Ave Princeton, TX	3.0	2.0	1810	$2,095	$1.16	44d	1	0.63mi
418 Kingsbury Ave Princeton, TX	4.0	2.0	1810	$2,095	$1.16	44d	1	0.65mi
217 Creekwood Dr Princeton, TX	3.0	2.0	1754	$1,795	$1.02	0d	1	0.65mi
417 Sweet Shade Ln Princeton, TX	4.0	2.0	1726	$1,900	$1.10	18d	1	0.66mi
899 E Hazelwood St Princeton, TX	1.0–3.0	1.0–2.0	989	$1,780	$1.80	0d	13	0.66mi
704 E College St Princeton, TX	4.0	2.0	1710	$1,575	$0.92	44d	1	0.67mi
819 Parkplace Rdg Princeton, TX	3.0	2.5	1669	$1,700	$1.02	44d	1	0.68mi
414 Sweet Shade Ln Princeton, TX	3.0	2.0	1700	$1,900	$1.12	44d	1	0.69mi
806 Parkplace Rdg Princeton, TX	4.0	2.5	1600	$1,500	$0.94	20d	1	0.69mi
412 Stonecreek Dr Princeton, TX	3.0	2.0	1763	$1,950	$1.11	44d	1	0.69mi
812 Parkplace Rdg Princeton, TX	4.0	2.5	1514	$1,575	$1.04	14d	1	0.70mi
715 Mulberry Dr Princeton, TX	3.0	2.0	1298	$1,695	$1.31	25d	1	0.70mi
713 Cedar Cove Dr Princeton, TX	3.0	2.0	1366	$1,840	$1.35	0d	1	0.76mi
767 Myrtle Ln Princeton, TX	3.0	2.0	1516	$1,790	$1.18	8d	1	0.77mi
767 Myrtle Ln Princeton, TX	3.0	2.0	1516	$1,775	$1.17	5d	1	0.77mi
515 Creekside Dr Princeton, TX	3.0	2.0	1540	$1,900	$1.23	44d	1	0.77mi
837 E College St Princeton, TX	4.0	2.5	1575	$1,500	$0.95	44d	1	0.77mi
200 Cole St Princeton, TX	1.0–3.0	1.0–2.0	960	$1,799	$1.87	44d	23	0.78mi
200 Cole St Princeton, TX	1.0–2.0	1.0–2.0	838	$1,263	$1.51	0d	8	0.78mi
771 Bayonet St Princeton, TX	3.0	2.0	1516	$1,850	$1.22	23d	1	0.79mi
780 Evergreen St Princeton, TX	4.0	2.0	1838	$2,069	$1.13	44d	1	0.80mi

Listing history 5 events

1. 2026-05-07
   listed $142,900 Active 1073-char remark
2. 2016-11-22
   soldstatus
3. 2014-12-25
   historical
4. 2014-04-25
   listed $145,000 Active
5. 2003-09-05
   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: $3,341 · $278/mo
• Projected year-2 tax: $3,341 · $278/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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 23 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: $22,217
• − Mortgage interest: −$8,005
• − Property taxes: −$3,341
• − Insurance: −$714
• − Repairs & maintenance: −$1,777
• − Management: −$1,777
• − Depreciation: −$4,157
• Taxable income: $2,445
• Est. tax owed @ 24.0%: −$587
• After-tax cash flow: $3,917/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: 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

• Census place: Princeton, TX
• 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

Price history

-1.4% since first listed

6 events — show timeline

• 2026-05-20 Pending — NTREIS
• 2026-05-07 Listed $142,900 NTREIS
• 2016-11-22 Sold (Public Records) — Public Records
• 2014-12-25 Listing Removed — NTREIS
• 2014-04-25 Listed $145,000 NTREIS
• 2003-09-05 Sold (Public Records) — Public Records

Property tax history

+4.4%/yr

Latest (2025): $3,341 · -7.6% YoY. Source: county tax records.