1115 Rainer Dr · Princeton, TX 75407

$259,900

3 bd · 2.0 ba · 1,712 sqft · SingleFamily public records · 35 Days on market

Built 2015 5,837 sqft lot $152/sqft · 15% below area Est $308k · 15% under $25/mo HOA · 1% 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 +14.5/15.0
• Cash flow +7.8/30.0
• Schools +4.2/10.0
• 1% rule +3.2/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• DSCR +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spectacular 4-2-2, 1 story brick & Stone elevation home w. Swimming Pool located in Villas At Monte Carlo. Princeton ISD. Beautiful landscaping, Huge master bedroom includes over-sized shower and WI closet. Nice open floor plan. Montgomery Apple Pergo laminate wood flooring throughout living room and hallways. Kitchen features breakfast bar, granite c-tops, black appliances and additional custom cabinets. Lovely patio in backyard. Wonderful home for entertaining!!

Key facts

• Updated appliances
• Newer roof
• New flooring

Tags

• FENCED BACKYARD
• UPDATED APPLIANCES
• NEWER ROOF
• FRESH INTERIOR PAINT
• NEW FLOORING

Property features AI

Finance

• Other: Listing accepts Cash, Conventional, FHA, Texas Vet; Possession at closing/funding; Survey available
• HOA & community: Mandatory HOA; HOA fees $150 semi-annually; HOA covers grounds maintenance and management fees; HOA managed by Princeton Villas of Monte Carlo

Exterior

• Parking: Attached 2-car garage; 2 covered parking spaces; Driveway
• Security: Smoke detector(s); Video surveillance present
• Utilities: City sewer; Individual water meter; Electricity connected; All-weather road; Concrete and curbs
• Home design: Single family residence; One story; Residential property
• Construction: Built in 2015; Composition roof; Slab foundation
• Exterior features: Covered patio; Wood fencing; Interior lot

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Microwave; Electric water heater
• Bedrooms: 4 bedrooms (primary bedroom on main level)
• Flooring: Ceramic tile; Laminate; Luxury vinyl plank
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Electric cooling
• Interior features: Decorative lighting; Open floorplan; Pantry; Walk-in closet(s); Window coverings
• Laundry & utility: Full-size washer/dryer area; Washer hookup; Electric dryer hookup; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $-290 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $209k (19.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $214k (17.8% below list).
• Recommended offer: $209k (19.7% 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) — zoned schools at 59% FRL track the district average.
• Market conditions: Rents soft (-1.0%/yr); 1404 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 35 days — a 3% lower offer ($252k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y ago; this cycle's ask has dropped $15k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $208,713 (19.7% 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 35 days. Have you received any prior offers? Is the seller open to a 20% 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: 0.82% ✗
• Cap rate: 4.96%
• Cash-on-cash: -4.78%
• DSCR: 0.79
• GRM: 10.1

CMA / ARV

• ARV (median comp): $307,544
• List price: $259,900
• Delta: -15.49%
• 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
1217 Lambert Dr	0.18mi	3/2.0	1,635 (-4%)	2mo	$275,000	$168	83
1208 Augustin Dr	0.17mi	3/2.0	1,591 (-7%)	0mo	$258,000	$162	80
1109 Roman Dr	0.06mi	4/2.0 (+1)	1,829 (+7%)	5mo	$275,000	$150	77
1312 Riviera Dr	0.31mi	4/2.0 (+1)	1,748 (+2%)	1mo	$275,000	$157	76
2001 Partridge Rd	0.49mi	3/2.0	1,692 (-1%)	2mo	$318,990	$189	74
1906 Sandpiper Way	0.40mi	4/2.0 (+1)	1,864 (+9%)	5mo	$299,990	$161	58
2015 Partridge Rd	0.54mi	3/2.0	1,536 (-10%)	5mo	$305,435	$199	54
806 Opal Path	0.63mi	4/2.0 (+1)	1,590 (-7%)	1mo	$259,000	$163	53
1310 Granite Path	0.60mi	4/2.0 (+1)	1,826 (+7%)	4mo	$315,000	$173	52
1305 Savannah Ridge Dr	0.73mi	4/2.0 (+1)	1,587 (-7%)	1mo	$275,000	$173	48
1212 Verbena St	0.52mi	4/3.0 (+1)	1,952 (+14%)	0mo	$334,990	$172	43
1401 Savannah Ridge Dr	0.71mi	4/2.0 (+1)	1,891 (+10%)	2mo	$240,000	$127	43

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: -28.1%
• Equity multiple: 0.08×
• Total profit: $-66,687
• Equity at exit: $38,752

10-year hold

• IRR: -46.7%
• Equity multiple: -0.45×
• Total profit: $-105,446
• Equity at exit: $22,471

Cash invested: $72,772 (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: 1404
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,136 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$481 /mo · $5,775/yr
• Insurance: −$108
• HOA: −$25
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $-290

Break-even live

Break-even rent $2,503

Max offer price $208,713

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1101 Rainer Dr Princeton, TX	4.0	2.0	1712	$2,150	$1.26	24d	1	0.04mi
1121 Rainer Dr Princeton, TX	4.0	2.0	1892	$1,950	$1.03	1d	1	0.06mi
1062 Churchill Dr Princeton, TX	4.0	2.0	1901	$1,889	$0.99	7d	1	0.07mi
1114 Bellevue Dr Princeton, TX	4.0	2.0	1591	$1,949	$1.23	1d	1	0.07mi
1048 Churchill Dr Princeton, TX	4.0	2.0	1901	$1,950	$1.03	43d	1	0.12mi
1114 Augustin Dr Princeton, TX	3.0	2.5	2226	$1,700	$0.76	43d	1	0.13mi
812 Indigo Rd Princeton, TX	3.0	2.0	1653	$2,200	$1.33	43d	1	0.14mi
1212 Roman Dr Princeton, TX	4.0	2.0	1712	$1,895	$1.11	16d	1	0.16mi
2107 Camellia St Princeton, TX	4.0	2.0	1829	$2,200	$1.20	12d	1	0.17mi
1118 Grace Dr Princeton, TX	4.0	2.0	1924	$2,900	$1.51	17d	1	0.18mi
1210 Augustin Dr Princeton, TX	4.0	2.0	1760	$1,750	$0.99	17d	1	0.20mi
1213 Lambert Dr Princeton, TX	3.0	2.0	1691	$1,995	$1.18	43d	1	0.20mi
909 Cormorant St Princeton, TX	3.0	2.5	2141	$2,100	$0.98	5d	1	0.22mi
610 Union Dr Princeton, TX	4.0	2.0	1829	$2,350	$1.28	24d	1	0.26mi
1217 Caroline Dr Princeton, TX	4.0	2.0	1948	$1,975	$1.01	5d	1	0.30mi
1210 Antoinette Dr Princeton, TX	3.0	2.5	2244	$2,045	$0.91	4d	1	0.31mi
461 San Remo Princeton, TX	3.0	2.0	2084	$2,500	$1.20	24d	1	0.32mi
1655 Ratama Dr Princeton, TX	4.0	2.0	1851	$2,250	$1.22	12d	1	0.35mi
808 Marigold St Princeton, TX	4.0	3.0	2060	$2,350	$1.14	12d	1	0.35mi
808 Marigold St Princeton, TX	4.0	3.0	2060	$2,500	$1.21	43d	1	0.35mi
1001 Marigold St Princeton, TX	4.0	3.0	2192	$2,225	$1.02	43d	1	0.39mi
1911 Sandpiper Way Princeton, TX	3.0	2.0	1977	$2,050	$1.04	3d	1	0.41mi
1405 Diamond Ct Princeton, TX	4.0	2.0	1891	$1,925	$1.02	43d	1	0.43mi
802 Platinum Dr Princeton, TX	4.0	2.0	1710	$1,875	$1.10	20d	1	0.46mi
1123 Garnet St Princeton, TX	3.0	2.0	1891	$1,980	$1.05	20d	1	0.48mi
600 W Monte Carlo Blvd Princeton, TX	1.0–3.0	1.0–2.0	1245	$1,728	$1.39	1d	32	0.49mi
1302 Meadow Creek Dr Princeton, TX	4.0	2.0	1889	$2,095	$1.11	7d	1	0.51mi
1218 Meadow Creek Dr Princeton, TX	4.0	2.0	1567	$1,726	$1.10	17d	1	0.52mi
1218 Meadow Creek Dr Princeton, TX	4.0	2.0	1567	$1,715	$1.09	10d	1	0.52mi
2408 Merganser St Princeton, TX	4.0	3.0	1954	$2,250	$1.15	1d	1	0.60mi
904 Opal Path Princeton, TX	4.0	2.0	1891	$1,995	$1.05	43d	1	0.61mi
1111 Meadow Side Dr Princeton, TX	4.0	4.0	1567	$2,195	$1.40	7d	1	0.64mi
1101 Emerald Dr Princeton, TX	4.0	2.0	1630	$1,800	$1.10	24d	1	0.69mi
596 N Beauchamp Blvd Princeton, TX	1.0–2.0	1.0–2.0	1009	$2,050	$2.03	1d	40	0.72mi
1008 Emerald Dr Princeton, TX	4.0	2.5	2119	$2,300	$1.09	43d	1	0.73mi
1305 Savannah Ridge Dr Princeton, TX	3.0	2.0	1587	$1,795	$1.13	10d	1	0.75mi
1611 White Mountain Way Princeton, TX	4.0	2.0	1658	$1,950	$1.18	43d	1	0.76mi
2049 Meadow View Dr Princeton, TX	4.0	2.0	1807	$1,800	$1.00	12d	1	0.80mi
1606 Meadow Creek Dr Princeton, TX	4.0	2.0	1641	$2,000	$1.22	43d	1	0.82mi
1627 White Mountain Way Princeton, TX	3.0	2.0	1608	$1,800	$1.12	3d	1	0.83mi

HOA detail

• Monthly dues: $25 · $300/yr
• Likely covers: landscapingpool

Listing history 20 events

1. 2026-06-18
   days on market $259,900 Active 35 DOM
2. 2026-06-17
   days on market $259,900 Active 34 DOM
3. 2026-06-16
   days on market $259,900 Active 33 DOM
4. 2026-06-15
   days on market $259,900 Active 32 DOM
5. 2026-06-13
   days on market $259,900 Active 30 DOM
6. 2026-06-13
   pricedays on market $259,900 Active 29 DOM
7. 2026-06-09
   days on market $262,900 Active 26 DOM
8. 2026-06-08
   days on market $262,900 Active 25 DOM
9. 2026-06-07
   days on market $262,900 Active 24 DOM
10. 2026-06-04
    days on market $262,900 Active 21 DOM
11. 2026-06-03
    days on market $262,900 Active 20 DOM
12. 2026-06-02
    days on market $262,900 Active 19 DOM
13. 2026-06-01
    days on market $262,900 Active 18 DOM
14. 2026-05-31
    days on market $262,900 Active 17 DOM
15. 2026-05-14
    listed $274,900 Active 1202-char remark
16. 2017-09-28
    soldstatus
17. 2017-09-26
    soldstatus Sold 472-char remark

    Show marketing remark (472 chars)

    Spectacular 4-2-2, 1 story brick & Stone elevation home w. Swimming Pool located in Villas At Monte Carlo. Princeton ISD. Beautiful landscaping, Huge master bedroom includes over-sized shower and WI closet. Nice open floor plan. Montgomery Apple Pergo laminate wood flooring throughout living room and hallways. Kitchen features breakfast bar, granite c-tops, black appliances and additional custom cabinets. Lovely patio in backyard. Wonderful home for entertaining!!

18. 2017-09-05
    status Pending 472-char remark

    Show marketing remark (472 chars)

    Spectacular 4-2-2, 1 story brick & Stone elevation home w. Swimming Pool located in Villas At Monte Carlo. Princeton ISD. Beautiful landscaping, Huge master bedroom includes over-sized shower and WI closet. Nice open floor plan. Montgomery Apple Pergo laminate wood flooring throughout living room and hallways. Kitchen features breakfast bar, granite c-tops, black appliances and additional custom cabinets. Lovely patio in backyard. Wonderful home for entertaining!!

19. 2017-08-28
    historical Active Option Contract 472-char remark

    Show marketing remark (472 chars)

    Spectacular 4-2-2, 1 story brick & Stone elevation home w. Swimming Pool located in Villas At Monte Carlo. Princeton ISD. Beautiful landscaping, Huge master bedroom includes over-sized shower and WI closet. Nice open floor plan. Montgomery Apple Pergo laminate wood flooring throughout living room and hallways. Kitchen features breakfast bar, granite c-tops, black appliances and additional custom cabinets. Lovely patio in backyard. Wonderful home for entertaining!!

20. 2017-08-25
    listed $205,000 Active 472-char remark

    Show marketing remark (472 chars)

    Spectacular 4-2-2, 1 story brick & Stone elevation home w. Swimming Pool located in Villas At Monte Carlo. Princeton ISD. Beautiful landscaping, Huge master bedroom includes over-sized shower and WI closet. Nice open floor plan. Montgomery Apple Pergo laminate wood flooring throughout living room and hallways. Kitchen features breakfast bar, granite c-tops, black appliances and additional custom cabinets. Lovely patio in backyard. Wonderful home for entertaining!!

ⓘ 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: $5,775 · $481/mo
• Projected year-2 tax: $5,775 · $481/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: $25,637
• − Mortgage interest: −$14,558
• − Property taxes: −$5,775
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,051
• − Management: −$2,051
• − HOA: −$300
• − Depreciation: −$7,561
• Taxable loss: −$7,959
• Est. tax savings @ 24.0%: +$1,910
• After-tax cash flow: $-1,567/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

+26.8% since first listed

8 events — show timeline

• 2026-06-11 Price Changed $259,900 NTREIS
• 2026-05-21 Price Changed $262,900 NTREIS
• 2026-05-14 Listed $274,900 NTREIS
• 2017-09-28 Sold (Public Records) — Public Records
• 2017-09-26 Sold (MLS) — NTREIS
• 2017-09-05 Pending — NTREIS
• 2017-08-28 Contingent — NTREIS
• 2017-08-25 Listed $205,000 NTREIS

Property tax history

+26.5%/yr

Latest (2025): $5,775 · -4.5% YoY. Source: county tax records.