1409 Slate St · Princeton, TX 75407

$275,000

4 bd · 2.0 ba · 1,710 sqft · SingleFamily public records · 51 Days on market

Built 2017 5,140 sqft lot $161/sqft · 17% below area Est $330k · 17% under $45/mo HOA · 2% of rent

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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).

• ARV discount +15.0/15.0
• Cash flow +7.6/30.0
• Schools +4.2/10.0
• 1% rule +3.1/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• DSCR +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

New! Popular 1-story home features an open floorplan, large breakfast nook and kitchen overlooking a generous family room and split bedrooms. Beautiful stone archway at the entry. Home includes beautiful tile flooring, archways, granite kitchen countertops and stainless steel kitchen appliances, including refrigerator. Call today to schedule an appointment! PLEASE SEE SHOWING INSTRUCTIONS. .. PLAN 1682

Key facts

• 5,140 sq ft lot
• 2 garage spots
• Community pool

Property features AI

Finance

• Other: Community amenities include clubhouse, pool, park, playground, jogging/bike path and sidewalks
• Financial info: Listing accepts Cash, Conventional, FHA, Texas Vet, VA Loan
• HOA & community: Mandatory association; Annual association fee; Association fee covers full use of facilities and management fees; Neighborhood management company

Exterior

• Parking: Attached garage with 2 covered spaces; Garage faces front; Garage door opener; Driveway parking; Garage approximately 19' wide by 20' long
• Security: Smoke detector(s)
• Utilities: City water; City sewer; Electricity connected; Individual gas meter; Individual water meter; Underground utilities; Sidewalks, curbs and concrete; Other utilities
• Home design: Single family residence; Residential property; One story; Smart home features; No accessibility features indicated
• Construction: Built in 2017; Composition roof; Other roof materials; Slab foundation; Other foundation details
• Exterior features: Covered patio/porch; Gutters; Exterior lighting; Wood fencing; Sprinkler system; Landscaped yard; Interior lot; Subdivision setting; Other exterior features

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Breakfast room adjacent to kitchen
• Bedrooms: 4 bedrooms; Primary bedroom on level 1 with separate vanities
• Flooring: Ceramic tile; Other flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air; Attic fan; Ceiling fan(s)
• Interior features: Granite counters; High speed internet available; Walk-in closet(s); Window coverings; 7 total rooms; One-level layout
• Laundry & utility: Full-size washer/dryer area; Washer hookup; Electric dryer hookup; Utility room

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $-333 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $216k (21.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $222k (19.4% below list).
• Recommended offer: $216k (21.4% below list) — sets the bar for cash-flow.

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); Clark Middle (math 53% / reading 42%, grade C-, #408 of 1,662 statewide, top 25%, 707 students, 66% FRL); Princeton H S (math 52% / reading 54%, grade C-, #437 of 1,632 statewide, top 27%, 1,521 students, 57% FRL) — zoned schools at 61% FRL track the district average.
• Market conditions: Rents soft (-1.0%/yr); 1410 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $2k of loan paydown is wiped out by about $8k 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

• It's been on market 51 days — a 3% lower offer ($267k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y ago; this cycle's ask is 14765% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $216,112 (21.4% 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 51 days. Have you received any prior offers? Is the seller open to a 21% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 4.84%
• Cash-on-cash: -5.20%
• DSCR: 0.77
• GRM: 10.3

CMA / ARV

• ARV (median comp): $330,392
• List price: $275,000
• Delta: -16.77%
• 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
1404 Marble St	0.08mi	4/2.5	1,650 (-4%)	0mo	$275,000	$167	88
806 Opal Path	0.15mi	4/2.0	1,590 (-7%)	1mo	$259,000	$163	81
1310 Granite Path	0.14mi	4/2.0	1,826 (+7%)	4mo	$315,000	$173	79
1003 Sapphire Dr	0.30mi	4/2.0	1,630 (-5%)	1mo	$285,000	$175	78
1312 Riviera Dr	0.46mi	4/2.0	1,748 (+2%)	1mo	$275,000	$157	74
2001 Partridge Rd	0.48mi	3/2.0 (-1)	1,692 (-1%)	2mo	$318,990	$189	70
1217 Lambert Dr	0.39mi	3/2.0 (-1)	1,635 (-4%)	2mo	$275,000	$168	68
2002 Sandpiper Way	0.48mi	4/2.0	1,800 (+5%)	5mo	$314,990	$175	65
1109 Roman Dr	0.42mi	4/2.0	1,829 (+7%)	5mo	$275,000	$150	65
1906 Sandpiper Way	0.39mi	4/2.0	1,864 (+9%)	5mo	$299,990	$161	63
1208 Augustin Dr	0.45mi	3/2.0 (-1)	1,591 (-7%)	1mo	$258,000	$162	62
406 Kingsbury Ave	0.75mi	3/2.5 (-1)	1,810 (+6%)	2mo	$319,990	$177	47

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: -28.9%
• Equity multiple: 0.06×
• Total profit: $-72,141
• Equity at exit: $41,003

10-year hold

• IRR: -49.3%
• Equity multiple: -0.49×
• Total profit: $-114,663
• Equity at exit: $23,777

Cash invested: $77,000 (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 75407

• Home prices YoY: -30.3%
• Rents YoY: -1.0%
• Active inventory: 1410
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,216 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$482 /mo · $5,789/yr
• Insurance: −$115
• HOA: −$45
• Vacancy / Maint / Mgmt: −$465
• Net cashflow: $-333

Break-even live

Break-even rent $2,638

Max offer price $216,112

Occupancy floor —

Sensitivity live

Price	-10% $-178	-5% $-256	+0% $-333	+5% $-411	+10% $-489
Rent	-10% $-508	-5% $-421	+0% $-333	+5% $-246	+10% $-158
Rate	-1.0pp $-195	-0.5pp $-263	base $-333	+0.5pp $-405	+1.0pp $-477

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
802 Platinum Dr Princeton, TX	4.0	2.0	1710	$1,875	$1.10	22d	1	0.10mi
1655 Ratama Dr Princeton, TX	4.0	2.0	1851	$2,250	$1.22	14d	1	0.14mi
904 Opal Path Princeton, TX	4.0	2.0	1891	$1,995	$1.05	45d	1	0.16mi
909 Cormorant St Princeton, TX	3.0	2.5	2141	$2,100	$0.98	7d	1	0.23mi
1405 Diamond Ct Princeton, TX	4.0	2.0	1891	$1,925	$1.02	45d	1	0.25mi
1101 Emerald Dr Princeton, TX	4.0	2.0	1630	$1,800	$1.10	26d	1	0.25mi
1123 Garnet St Princeton, TX	3.0	2.0	1891	$1,980	$1.05	22d	1	0.26mi
1009 Riverstone Trl Princeton, TX	5.0	2.0	2047	$2,195	$1.07	12d	1	0.28mi
1008 Emerald Dr Princeton, TX	4.0	2.5	2119	$2,300	$1.09	45d	1	0.28mi
600 W Monte Carlo Blvd Princeton, TX	1.0–3.0	1.0–2.0	1245	$1,728	$1.39	0d	30	0.33mi
1118 Grace Dr Princeton, TX	4.0	2.0	1924	$2,850	$1.48	0d	1	0.33mi
1048 Churchill Dr Princeton, TX	4.0	2.0	1901	$1,950	$1.03	45d	1	0.33mi
1210 Antoinette Dr Princeton, TX	3.0	2.5	2244	$2,045	$0.91	6d	1	0.34mi
1114 Augustin Dr Princeton, TX	3.0	2.5	2226	$1,700	$0.76	45d	1	0.36mi
1213 Lambert Dr Princeton, TX	3.0	2.0	1691	$1,950	$1.15	0d	1	0.36mi
1217 Caroline Dr Princeton, TX	4.0	2.0	1948	$1,975	$1.01	7d	1	0.38mi
908 Mercury Dr Princeton, TX	4.0	2.0	1630	$1,875	$1.15	45d	1	0.39mi
900 Sapphire Dr Princeton, TX	5.0	2.0	2046	$2,300	$1.12	45d	1	0.39mi
1062 Churchill Dr Princeton, TX	4.0	2.0	1901	$1,889	$0.99	9d	1	0.40mi
1114 Bellevue Dr Princeton, TX	4.0	2.0	1591	$1,949	$1.23	3d	1	0.40mi
811 Emerald Dr Princeton, TX	4.0	2.0	2080	$2,250	$1.08	45d	1	0.42mi
1911 Sandpiper Way Princeton, TX	3.0	2.0	1977	$1,950	$0.99	0d	1	0.42mi
1101 Rainer Dr Princeton, TX	4.0	2.0	1712	$2,150	$1.26	26d	1	0.44mi
1210 Augustin Dr Princeton, TX	4.0	2.0	1760	$1,750	$0.99	19d	1	0.44mi
1302 Meadow Creek Dr Princeton, TX	4.0	2.0	1889	$2,095	$1.11	9d	1	0.45mi
1218 Meadow Creek Dr Princeton, TX	4.0	2.0	1567	$1,715	$1.09	12d	1	0.45mi
1218 Meadow Creek Dr Princeton, TX	4.0	2.0	1567	$1,726	$1.10	19d	1	0.45mi
812 Indigo Rd Princeton, TX	3.0	2.0	1653	$2,200	$1.33	45d	1	0.47mi
1202 Meadow Wood Ct Princeton, TX	5.0	2.0	2044	$2,400	$1.17	6d	1	0.47mi
1121 Rainer Dr Princeton, TX	4.0	2.0	1892	$1,900	$1.00	0d	1	0.48mi
2107 Camellia St Princeton, TX	4.0	2.0	1829	$2,200	$1.20	14d	1	0.49mi
1111 Meadow Side Dr Princeton, TX	4.0	4.0	1567	$2,195	$1.40	9d	1	0.50mi
1212 Roman Dr Princeton, TX	4.0	2.0	1712	$1,895	$1.11	18d	1	0.53mi
610 Union Dr Princeton, TX	4.0	2.0	1829	$2,350	$1.28	26d	1	0.60mi
1011 Meadow Green Ct Princeton, TX	3.0	2.0	1580	$1,895	$1.20	14d	1	0.62mi
461 San Remo Princeton, TX	3.0	2.0	2084	$2,500	$1.20	26d	1	0.63mi
2049 Meadow View Dr Princeton, TX	4.0	2.0	1807	$1,800	$1.00	14d	1	0.70mi
515 Creekside Dr Princeton, TX	3.0	2.0	1540	$1,900	$1.23	45d	1	0.74mi
418 Kingsbury Ave Princeton, TX	4.0	2.0	1810	$2,095	$1.16	45d	1	0.74mi
406 Kingsbury Ave Princeton, TX	3.0	2.0	1810	$2,095	$1.16	45d	1	0.76mi

HOA detail

• Monthly dues: $45 · $540/yr

Listing history 23 events

1. 2026-06-21
   statusdays on market $275,000 Pending 51 DOM
2. 2026-06-18
   days on market $275,000 Active 49 DOM
3. 2026-06-17
   days on market $275,000 Active 48 DOM
4. 2026-06-16
   days on market $275,000 Active 47 DOM
5. 2026-06-15
   days on market $275,000 Active 46 DOM
6. 2026-06-13
   days on market $275,000 Active 44 DOM
7. 2026-06-13
   days on market $275,000 Active 43 DOM
8. 2026-06-09
   days on market $275,000 Active 40 DOM
9. 2026-06-08
   days on market $275,000 Active 39 DOM
10. 2026-06-07
    days on market $275,000 Active 38 DOM
11. 2026-06-04
    days on market $275,000 Active 35 DOM
12. 2026-06-03
    days on market $275,000 Active 34 DOM
13. 2026-06-02
    days on market $275,000 Active 33 DOM
14. 2026-06-01
    days on market $275,000 Active 32 DOM
15. 2026-05-31
    days on market $275,000 Active 31 DOM
16. 2026-05-14
    listed $1,850
17. 2026-05-13
    price $275,000 1351-char remark
18. 2026-04-30
    listed $285,000 Active 1351-char remark
19. 2018-05-17
    soldstatus Sold 405-char remark

    Show marketing remark (405 chars)

    New! Popular 1-story home features an open floorplan, large breakfast nook and kitchen overlooking a generous family room and split bedrooms. Beautiful stone archway at the entry. Home includes beautiful tile flooring, archways, granite kitchen countertops and stainless steel kitchen appliances, including refrigerator. Call today to schedule an appointment! PLEASE SEE SHOWING INSTRUCTIONS. .. PLAN 1682

20. 2018-03-22
    status Pending 405-char remark

    Show marketing remark (405 chars)

    New! Popular 1-story home features an open floorplan, large breakfast nook and kitchen overlooking a generous family room and split bedrooms. Beautiful stone archway at the entry. Home includes beautiful tile flooring, archways, granite kitchen countertops and stainless steel kitchen appliances, including refrigerator. Call today to schedule an appointment! PLEASE SEE SHOWING INSTRUCTIONS. .. PLAN 1682

21. 2018-03-12
    status Active 405-char remark

    Show marketing remark (405 chars)

    New! Popular 1-story home features an open floorplan, large breakfast nook and kitchen overlooking a generous family room and split bedrooms. Beautiful stone archway at the entry. Home includes beautiful tile flooring, archways, granite kitchen countertops and stainless steel kitchen appliances, including refrigerator. Call today to schedule an appointment! PLEASE SEE SHOWING INSTRUCTIONS. .. PLAN 1682

22. 2018-01-31
    status Pending 405-char remark

    Show marketing remark (405 chars)

    New! Popular 1-story home features an open floorplan, large breakfast nook and kitchen overlooking a generous family room and split bedrooms. Beautiful stone archway at the entry. Home includes beautiful tile flooring, archways, granite kitchen countertops and stainless steel kitchen appliances, including refrigerator. Call today to schedule an appointment! PLEASE SEE SHOWING INSTRUCTIONS. .. PLAN 1682

23. 2017-12-27
    listed $219,990 Active 405-char remark

    Show marketing remark (405 chars)

    New! Popular 1-story home features an open floorplan, large breakfast nook and kitchen overlooking a generous family room and split bedrooms. Beautiful stone archway at the entry. Home includes beautiful tile flooring, archways, granite kitchen countertops and stainless steel kitchen appliances, including refrigerator. Call today to schedule an appointment! PLEASE SEE SHOWING INSTRUCTIONS. .. PLAN 1682

ⓘ 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: $5,789 · $482/mo
• Projected year-2 tax: $5,789 · $482/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 8/10 Severe 7 d/yr ≥110°F today · 25 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: $26,594
• − Mortgage interest: −$15,404
• − Property taxes: −$5,789
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,127
• − Management: −$2,127
• − HOA: −$540
• − Depreciation: −$8,000
• Taxable loss: −$8,769
• Est. tax savings @ 24.0%: +$2,105
• After-tax cash flow: $-1,896/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

-99.2% since first listed

8 events — show timeline

• 2026-05-14 Listed for Rent $1,850 NTREIS
• 2026-05-13 Price Changed $275,000 NTREIS
• 2026-04-30 Listed $285,000 NTREIS
• 2018-05-17 Sold (MLS) — NTREIS
• 2018-03-22 Pending — NTREIS
• 2018-03-12 Relisted — NTREIS
• 2018-01-31 Pending — NTREIS
• 2017-12-27 Listed $219,990 NTREIS

Property tax history

+13.3%/yr

Latest (2025): $5,789 · -1.5% YoY. Source: county tax records.