Ivy Plan · Midlothian, TX 76065

$396,990

4 bd · 2.5 ba · 2,565 sqft · SingleFamily · 956 Days on market

$71/mo HOA · 2% of rent ↓ 2% since listing

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Why this score? — see what drove the F 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 +7.8/30.0
• ARV discount +7.5/15.0
• Schools +4.8/10.0
• Rent growth +3.6/5.0
• Livability +3.5/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• DSCR +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Need more space? The downstairs flex and upstairs game room in this home provide plenty of space to play and relax. What you'll love about this plan: - Open-Concept Floor Plan - HomeSmart ® Features - Tall Ceilings - Flex Room - Gameroom - Primary Suite Upstairs

Key facts

• 2 garage spots
• Listed 956 days

🏗️ New construction. The $396,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $436,523.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $397k.

Deal economics

• At list price, monthly cash flow is $-479 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $367k (7.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $330k (16.8% below list).
• Recommended offer: $330k (16.8% below list) — sets the bar for 1% rule.
• Cap rate 5.0% vs local median 3.5% in Midlothian — 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 70/100 on livability (#371 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Midlothian ISD (suburban): math 53% / reading 52% proficiency, ranked #94 of 826 in TX (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: T E Baxter El (math 49% / reading 48%, grade D, #950 of 4,322 statewide, top 22%, 600 students, 37% FRL); Walnut Grove Middle (math 57% / reading 56%, grade B, #226 of 1,662 statewide, top 14%, 992 students, 21% FRL).
• Market conditions: Rents rising fast (+4.3%/yr); 1135 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 3,016 units permitted in Ellis County in 2024 (20 in 5+ unit buildings).
• This rent runs 31% of the median local income ($128k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k 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 956 days — a 12% lower offer ($349k) is reasonable based on typical stale-listing flexibility.

Recommended offer $330,183 (16.8% 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 956 days. Have you received any prior offers? Is the seller open to a 17% 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 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.76% ✗
• Cap rate: 4.98%
• Cash-on-cash: -4.71%
• DSCR: 0.79
• GRM: 11.0

CMA / ARV

• ARV (median comp): $436,523
• List price: $396,990
• Delta: -9.06%
• 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
4809 Signal Run Rd	0.13mi	4/2.5	2,521 (-2%)	3mo	$479,819	$190	89
2449 Hitchford St	0.13mi	4/3.0	2,521 (-2%)	3mo	$469,349	$186	87
4846 Signal Run Rd	0.16mi	3/2.5 (-1)	2,532 (-1%)	1mo	$474,900	$188	85
2223 Shady Elm	0.32mi	4/2.5	2,859 (+12%)	0mo	$438,184	$153	65
2445 Hitchford St	0.12mi	3/2.0 (-1)	2,252 (-12%)	2mo	$419,803	$186	65
4613 Clearcrest Rd	0.59mi	4/2.5	2,656 (+4%)	4mo	$519,900	$196	63
2227 Oak Branch Trl	0.27mi	4/2.5	2,939 (+15%)	1mo	$474,780	$162	63
2406 Oak Branch Trl	0.29mi	4/3.5	2,931 (+14%)	2mo	$489,110	$167	58
2022 Slipchannel St	0.36mi	4/3.0	2,905 (+13%)	3mo	$574,900	$198	56
1833 Rough Ridge Trl	0.54mi	4/3.0	2,838 (+11%)	5mo	$569,900	$201	51
4613 Timberdrift St	0.74mi	4/3.5	2,698 (+5%)	3mo	$539,900	$200	50
4409 Capstone Rd	0.74mi	4/3.0	2,896 (+13%)	3mo	$559,000	$193	39

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 · 4.32% rent growth · sell at horizon

5-year hold

• IRR: -22.8%
• Equity multiple: 0.21×
• Total profit: $-96,724
• Equity at exit: $65,087

10-year hold

• IRR: -14.0%
• Equity multiple: 0.15×
• Total profit: $-104,423
• Equity at exit: $37,743

Cash invested: $122,226 (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 76065

• Home prices YoY: -18.9%
• Rents YoY: 4.3%
• Active inventory: 1135
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $3,302 medium
• Mortgage (P&I): −$2,289
• Tax est. 1.5%: −$546 /mo · $6,548/yr
• Insurance: −$182
• HOA: −$71
• Vacancy / Maint / Mgmt: −$693
• Net cashflow: $-479

Break-even live

Break-even rent $3,908

Max offer price $367,172

Occupancy floor —

Sensitivity live

Price	-10% $-178	-5% $-328	+0% $-479	+5% $-630	+10% $-781
Rent	-10% $-740	-5% $-610	+0% $-479	+5% $-349	+10% $-218
Rate	-1.0pp $-259	-0.5pp $-368	base $-479	+0.5pp $-592	+1.0pp $-707

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: $109,131
• Closing costs: $13,096
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1810 Hidden Water Trl Midlothian, TX	3.0	3.0	2456	$3,800	$1.55	45d	1	0.59mi
4021 Alpine St Midlothian, TX	4.0	3.0	2311	$3,100	$1.34	1d	1	1.19mi

HOA detail

• Monthly dues: $71 · $852/yr

Listing history 27 events

1. 2026-06-21
   days on market $396,990 Active 956 DOM
2. 2026-06-18
   days on market $396,990 Active 953 DOM
3. 2026-06-17
   days on market $396,990 Active 952 DOM
4. 2026-06-16
   days on market $396,990 Active 951 DOM
5. 2026-06-15
   days on market $396,990 Active 950 DOM
6. 2026-06-13
   days on market $396,990 Active 948 DOM
7. 2026-06-13
   days on market $396,990 Active 947 DOM
8. 2026-06-09
   days on market $396,990 Active 944 DOM
9. 2026-06-08
   days on market $396,990 Active 943 DOM
10. 2026-06-07
    days on market $396,990 Active 942 DOM
11. 2026-06-04
    days on market $396,990 Active 939 DOM
12. 2026-06-03
    days on market $396,990 Active 938 DOM
13. 2026-06-02
    days on market $396,990 Active 937 DOM
14. 2026-06-01
    days on market $396,990 Active 936 DOM
15. 2026-05-31
    days on market $396,990 Active 935 DOM
16. 2026-02-24
    price $396,990 272-char remark

    Show marketing remark (272 chars)

    Need more space? The downstairs flex and upstairs game room in this home provide plenty of space to play and relax. What you'll love about this plan: - Open-Concept Floor Plan - HomeSmart ® Features - Tall Ceilings - Flex Room - Gameroom - Primary Suite Upstairs

17. 2026-02-20
    price $394,990 272-char remark

    Show marketing remark (272 chars)

    Need more space? The downstairs flex and upstairs game room in this home provide plenty of space to play and relax. What you'll love about this plan: - Open-Concept Floor Plan - HomeSmart ® Features - Tall Ceilings - Flex Room - Gameroom - Primary Suite Upstairs

18. 2026-01-28
    price $389,990 272-char remark

    Show marketing remark (272 chars)

    Need more space? The downstairs flex and upstairs game room in this home provide plenty of space to play and relax. What you'll love about this plan: - Open-Concept Floor Plan - HomeSmart ® Features - Tall Ceilings - Flex Room - Gameroom - Primary Suite Upstairs

19. 2025-05-16
    price $415,990 272-char remark

    Show marketing remark (272 chars)

    Need more space? The downstairs flex and upstairs game room in this home provide plenty of space to play and relax. What you'll love about this plan: - Open-Concept Floor Plan - HomeSmart ® Features - Tall Ceilings - Flex Room - Gameroom - Primary Suite Upstairs

20. 2024-10-01
    price $414,990 272-char remark

    Show marketing remark (272 chars)

    Need more space? The downstairs flex and upstairs game room in this home provide plenty of space to play and relax. What you'll love about this plan: - Open-Concept Floor Plan - HomeSmart ® Features - Tall Ceilings - Flex Room - Gameroom - Primary Suite Upstairs

21. 2024-08-20
    price $413,990 272-char remark

    Show marketing remark (272 chars)

    Need more space? The downstairs flex and upstairs game room in this home provide plenty of space to play and relax. What you'll love about this plan: - Open-Concept Floor Plan - HomeSmart ® Features - Tall Ceilings - Flex Room - Gameroom - Primary Suite Upstairs

22. 2024-08-17
    price $411,990 272-char remark

    Show marketing remark (272 chars)

    Need more space? The downstairs flex and upstairs game room in this home provide plenty of space to play and relax. What you'll love about this plan: - Open-Concept Floor Plan - HomeSmart ® Features - Tall Ceilings - Flex Room - Gameroom - Primary Suite Upstairs

23. 2024-08-16
    price $413,990 272-char remark

    Show marketing remark (272 chars)

    Need more space? The downstairs flex and upstairs game room in this home provide plenty of space to play and relax. What you'll love about this plan: - Open-Concept Floor Plan - HomeSmart ® Features - Tall Ceilings - Flex Room - Gameroom - Primary Suite Upstairs

24. 2024-05-01
    price $411,990 272-char remark

    Show marketing remark (272 chars)

    Need more space? The downstairs flex and upstairs game room in this home provide plenty of space to play and relax. What you'll love about this plan: - Open-Concept Floor Plan - HomeSmart ® Features - Tall Ceilings - Flex Room - Gameroom - Primary Suite Upstairs

25. 2024-04-01
    price $408,990 272-char remark

    Show marketing remark (272 chars)

    Need more space? The downstairs flex and upstairs game room in this home provide plenty of space to play and relax. What you'll love about this plan: - Open-Concept Floor Plan - HomeSmart ® Features - Tall Ceilings - Flex Room - Gameroom - Primary Suite Upstairs

26. 2023-12-30
    price $406,990 272-char remark

    Show marketing remark (272 chars)

    Need more space? The downstairs flex and upstairs game room in this home provide plenty of space to play and relax. What you'll love about this plan: - Open-Concept Floor Plan - HomeSmart ® Features - Tall Ceilings - Flex Room - Gameroom - Primary Suite Upstairs

27. 2023-11-08
    listed $404,990 Active 272-char remark

    Show marketing remark (272 chars)

    Need more space? The downstairs flex and upstairs game room in this home provide plenty of space to play and relax. What you'll love about this plan: - Open-Concept Floor Plan - HomeSmart ® Features - Tall Ceilings - Flex Room - Gameroom - Primary Suite Upstairs

ⓘ 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: $39,622
• − Mortgage interest: −$24,452
• − Property taxes: −$6,548
• − Insurance: −$2,183
• − Repairs & maintenance: −$3,170
• − Management: −$3,170
• − HOA: −$852
• − Depreciation: −$12,699
• Taxable loss: −$13,451
• Est. tax savings @ 24.0%: +$3,228
• After-tax cash flow: $-2,523/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: Midlothian ISD
• NCES district ID: 4830600
• Math proficiency: 53% ▼ -7.00%
• Reading proficiency: 52% ▼ -1.00%
• Median HH income: $85,068
• Composite: 48.22/100
• National rank: #2165
• State rank: #94 of 826 in TX

Livability — Midlothian

• Score: 70/100
• State rank: #371
• US rank: #7851

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Midlothian, TX
• County: Ellis County · 199,237 people
• City population: 47,438
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 47,438
• Household income: $127,756
• Rent vs Own: 18.3% rent · 81.7% own
• Severe rent burden: 811.0

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: Predominantly White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 20% Two or more races 13% Black 11%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Lithuanian 2% Italian 2% Romanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 88% English-only · Spanish 10% Other Indo-European 1%

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: ▼ -56.85%
• Current HPI: 243.5953
• Rent YoY: ▲ 4.32%
• 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

-2.0% since first listed

12 events — show timeline

• 2026-02-24 Price Changed $396,990 Zillow
• 2026-02-20 Price Changed $394,990 Zillow
• 2026-01-28 Price Changed $389,990 Zillow
• 2025-05-16 Price Changed $415,990 Zillow
• 2024-10-01 Price Changed $414,990 Zillow
• 2024-08-20 Price Changed $413,990 Zillow
• 2024-08-17 Price Changed $411,990 Zillow
• 2024-08-16 Price Changed $413,990 Zillow
• 2024-05-01 Price Changed $411,990 Zillow
• 2024-04-01 Price Changed $408,990 Zillow
• 2023-12-30 Price Changed $406,990 Zillow
• 2023-11-08 Listed $404,990 Zillow