109 Thelma · Josephine, TX 75173

$175,000

2 bd · 1.0 ba · 936 sqft · SingleFamily public records · 19 Days on market

Built 2006 0.39 ac lot $187/sqft · 19% below area Est $215k · 19% under

---

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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +8.0/30.0
• Schools +3.2/10.0
• 1% rule +3.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0

Listing remarks MLS

Beautifully remodeled 2 bedroom 1 bath home in sought after Josephine, TX! Custom countertops, brand new stainless steel appliances, backsplash, marble countertops, fresh paint, new carpet, and brand new wood floors! HUGE backyard great for entertaining! MUST SEE!

Key facts

• 0.39 acre lot
• Built 2006
• Listed 19 days

Property features AI

Finance

• HOA & community: No association

Exterior

• Parking: Driveway; Concrete parking
• Utilities: City water; City sewer; Not in a municipal utility district
• Home design: Single-family residence; One story; Residential property
• Construction: Brick construction; Composition roof; Slab foundation; Built in 2006
• Exterior features: Covered patio/porch; Chain-link fencing; Interior lot with large backyard and many trees

Interior

• Kitchen: Eat-in kitchen; Granite or natural stone counters; Pantry; Utility area in kitchen; Water line to refrigerator; Dishwasher; Disposal; Electric range; Microwave
• Bedrooms: 2 bedrooms (both on the main level); Primary bedroom with walk-in closet; Additional bedroom with walk-in closet
• Flooring: Carpet; Marble
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Open floorplan; Window coverings
• Laundry & utility: Full-size washer/dryer area; Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $-178 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $143k (18.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $140k (20.0% below list).
• Recommended offer: $140k (20.0% below list) — sets the bar for 1% rule.

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: amenities F, commute F, health & safety 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.
• Zoned schools: Mcclendon El (math 29% / reading 35%, grade F, #2,268 of 4,322 statewide, top 55%, 697 students, 66% FRL) — zoned schools average 66% FRL vs 36% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 421 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 19,194 units permitted in Collin County in 2024 (3,988 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k 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 ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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; major 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 $140,000 (20.0% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.80% ✗
• Cap rate: 5.07%
• Cash-on-cash: -4.37%
• DSCR: 0.81
• GRM: 10.4

CMA / ARV

• ARV (median comp): $214,838
• List price: $175,000
• Delta: -18.54%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
109 Thelma	0.00mi	2/1.0	936 (0%)	0mo	$175,000	$187	100
734 N Main St	0.26mi	2/1.5	1,044 (+12%)	24mo	$160,000	$153	47

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: 21.2%
• Equity multiple: 2.71×
• Total profit: $84,011
• Equity at exit: $157,654

10-year hold

• IRR: 19.2%
• Equity multiple: 6.23×
• Total profit: $256,471
• Equity at exit: $339,987

Cash invested: $49,000 (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: 10.4×

Monthly cashflow live

• Estimated rent: $1,400 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$294 /mo · $3,526/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $-178

Break-even live

Break-even rent $1,626

Max offer price $143,476

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
408 N Greenville St Josephine, TX	3.0	1.0	936	$1,400	$1.50	1d	1	0.44mi

Listing history 11 events

1. 2026-05-08
   listed $175,000 Active 1988-char remark
2. 2018-10-25
   soldstatus
3. 2018-10-24
   soldstatus Sold 264-char remark

   Show marketing remark (264 chars)

   Beautifully remodeled 2 bedroom 1 bath home in sought after Josephine, TX! Custom countertops, brand new stainless steel appliances, backsplash, marble countertops, fresh paint, new carpet, and brand new wood floors! HUGE backyard great for entertaining! MUST SEE!

4. 2018-10-10
   status Pending 264-char remark

   Show marketing remark (264 chars)

   Beautifully remodeled 2 bedroom 1 bath home in sought after Josephine, TX! Custom countertops, brand new stainless steel appliances, backsplash, marble countertops, fresh paint, new carpet, and brand new wood floors! HUGE backyard great for entertaining! MUST SEE!

5. 2018-09-30
   historical Active Option Contract 264-char remark

   Show marketing remark (264 chars)

   Beautifully remodeled 2 bedroom 1 bath home in sought after Josephine, TX! Custom countertops, brand new stainless steel appliances, backsplash, marble countertops, fresh paint, new carpet, and brand new wood floors! HUGE backyard great for entertaining! MUST SEE!

6. 2018-09-13
   price $134,999 264-char remark

   Show marketing remark (264 chars)

   Beautifully remodeled 2 bedroom 1 bath home in sought after Josephine, TX! Custom countertops, brand new stainless steel appliances, backsplash, marble countertops, fresh paint, new carpet, and brand new wood floors! HUGE backyard great for entertaining! MUST SEE!

7. 2018-08-23
   price $139,999 264-char remark

   Show marketing remark (264 chars)

   Beautifully remodeled 2 bedroom 1 bath home in sought after Josephine, TX! Custom countertops, brand new stainless steel appliances, backsplash, marble countertops, fresh paint, new carpet, and brand new wood floors! HUGE backyard great for entertaining! MUST SEE!

8. 2018-08-16
   price $144,999 264-char remark

   Show marketing remark (264 chars)

   Beautifully remodeled 2 bedroom 1 bath home in sought after Josephine, TX! Custom countertops, brand new stainless steel appliances, backsplash, marble countertops, fresh paint, new carpet, and brand new wood floors! HUGE backyard great for entertaining! MUST SEE!

9. 2018-07-26
   listed $149,999 Active 264-char remark

   Show marketing remark (264 chars)

   Beautifully remodeled 2 bedroom 1 bath home in sought after Josephine, TX! Custom countertops, brand new stainless steel appliances, backsplash, marble countertops, fresh paint, new carpet, and brand new wood floors! HUGE backyard great for entertaining! MUST SEE!

10. 2018-03-19
    soldstatus
11. 2000-02-05
    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: $3,526 · $294/mo
• Projected year-2 tax: $3,526 · $294/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 6/10 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,800
• − Mortgage interest: −$9,803
• − Property taxes: −$3,526
• − Insurance: −$875
• − Repairs & maintenance: −$1,344
• − Management: −$1,344
• − Depreciation: −$5,091
• Taxable loss: −$5,182
• Est. tax savings @ 24.0%: +$1,244
• After-tax cash flow: $-898/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: 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

• Census place: Josephine, TX
• 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

+16.7% since first listed

14 events — show timeline

• 2026-06-08 Sold (MLS) — NTREIS
• 2026-05-27 Pending — NTREIS
• 2026-05-19 Contingent — NTREIS
• 2026-05-08 Listed $175,000 NTREIS
• 2018-10-25 Sold (Public Records) — Public Records
• 2018-10-24 Sold (MLS) — NTREIS
• 2018-10-10 Pending — NTREIS
• 2018-09-30 Contingent — NTREIS
• 2018-09-13 Price Changed $134,999 NTREIS
• 2018-08-23 Price Changed $139,999 NTREIS
• 2018-08-16 Price Changed $144,999 NTREIS
• 2018-07-26 Listed $149,999 NTREIS
• 2018-03-19 Sold (Public Records) — Public Records
• 2000-02-05 Sold (Public Records) — Public Records

Property tax history

+5.0%/yr

Latest (2025): $3,526 · +7.3% YoY. Source: county tax records.