21474 County Road 639 · Royse City, TX 75189

$150,000

2 bd · 1.0 ba · 1,360 sqft · SingleFamily public records · 71 Days on market

Built 2005 1.00 ac lot $110/sqft · 42% below area Est $258k · 42% under ↓ 9% since listing

---

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 +29.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• Livability +3.8/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rare opportunity to own approximately one acre in the growing area of Royse City. The existing structure on the property is not currently livable and will require significant repairs or removal, making this an ideal opportunity for investors, builders, or buyers looking to build a new home on acreage. The property offers plenty of space and flexibility for redevelopment, new construction, or a future homestead. With open land and room to create your vision, this lot provides the freedom and privacy that many buyers are searching for outside the city. Conveniently located just a short drive from Interstate 30, shopping, dining, and the rapidly expanding Royse City area, the property combines the tranquility of country living with access to nearby amenities. Property is being sold as-is with no repairs to be made by seller. Value is in the land and location.

Key facts

• Open land
• New construction
• One acre

Tags

• ONE ACRE
• NEW CONSTRUCTION
• OPEN LAND
• SHORT DRIVE FROM INTERSTATE 30
• ACCESS TO NEARBY AMENITIES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $526 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $141k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 4.2% in Royse City — 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 75/100 on livability (#158 in TX, #4,292 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute 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: Leland E Edge Middle (math 25% / reading 35%, grade F, #1,056 of 1,662 statewide, top 65%, 931 students, 53% FRL) — zoned schools average 53% FRL vs 36% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.1%/yr); 1301 active listings in the ZIP; high-income renter base; 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 $1k 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

• It's been on market 71 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y ago; this cycle's ask has dropped $10k (6%) 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $141,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.29% ✓
• Cap rate: 10.50%
• Cash-on-cash: 15.04%
• DSCR: 1.67
• GRM: 6.5

CMA / ARV

• ARV (median comp): $257,634
• List price: $150,000
• Delta: -41.78%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21474 County Road 639	0.00mi	2/1.0	1,360 (0%)	1mo	$150,000	$110	99

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: 2.3%
• Equity multiple: 1.08×
• Total profit: $3,543
• Equity at exit: $22,365

10-year hold

• IRR: 8.7%
• Equity multiple: 1.58×
• Total profit: $24,345
• Equity at exit: $12,969

Cash invested: $42,000 (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 75189

• Home prices YoY: -25.0%
• Rents YoY: -1.1%
• Active inventory: 1301
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,937 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$155 /mo · $1,856/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $526

Break-even live

Break-even rent $1,271

Max offer price $150,000

Occupancy floor 68%

Sensitivity live

Price	-10% $611	-5% $569	+0% $526	+5% $484	+10% $441
Rent	-10% $373	-5% $450	+0% $526	+5% $603	+10% $679
Rate	-1.0pp $602	-0.5pp $564	base $526	+0.5pp $487	+1.0pp $448

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-05-16
   historical Active Option Contract 877-char remark

   Show marketing remark (877 chars)

   Rare opportunity to own approximately one acre in the growing area of Royse City. The existing structure on the property is not currently livable and will require significant repairs or removal, making this an ideal opportunity for investors, builders, or buyers looking to build a new home on acreage. The property offers plenty of space and flexibility for redevelopment, new construction, or a future homestead. With open land and room to create your vision, this lot provides the freedom and privacy that many buyers are searching for outside the city. Conveniently located just a short drive from Interstate 30, shopping, dining, and the rapidly expanding Royse City area, the property combines the tranquility of country living with access to nearby amenities. Property is being sold as-is with no repairs to be made by seller. Value is in the land and location.

2. 2026-04-14
   price $150,000 877-char remark

   Show marketing remark (877 chars)

   Rare opportunity to own approximately one acre in the growing area of Royse City. The existing structure on the property is not currently livable and will require significant repairs or removal, making this an ideal opportunity for investors, builders, or buyers looking to build a new home on acreage. The property offers plenty of space and flexibility for redevelopment, new construction, or a future homestead. With open land and room to create your vision, this lot provides the freedom and privacy that many buyers are searching for outside the city. Conveniently located just a short drive from Interstate 30, shopping, dining, and the rapidly expanding Royse City area, the property combines the tranquility of country living with access to nearby amenities. Property is being sold as-is with no repairs to be made by seller. Value is in the land and location.

3. 2026-03-12
   listed $160,000 Active 877-char remark

   Show marketing remark (877 chars)

   Rare opportunity to own approximately one acre in the growing area of Royse City. The existing structure on the property is not currently livable and will require significant repairs or removal, making this an ideal opportunity for investors, builders, or buyers looking to build a new home on acreage. The property offers plenty of space and flexibility for redevelopment, new construction, or a future homestead. With open land and room to create your vision, this lot provides the freedom and privacy that many buyers are searching for outside the city. Conveniently located just a short drive from Interstate 30, shopping, dining, and the rapidly expanding Royse City area, the property combines the tranquility of country living with access to nearby amenities. Property is being sold as-is with no repairs to be made by seller. Value is in the land and location.

4. 2024-09-30
   historical
5. 2024-09-30
   historical
6. 2024-07-24
   price $160,000
7. 2024-07-24
   price $160,000
8. 2024-06-14
   listed $180,000 Active
9. 2024-05-17
   listed $180,000 Active
10. 2022-07-04
    historical
11. 2022-06-04
    historical
12. 2022-05-03
    listed $165,000 Active
13. 2022-05-03
    listed $165,000 Active
14. 2003-06-18
    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: $1,856 · $155/mo
• Projected year-2 tax: $2,745 · $229/mo
• Expected delta: +$889/yr (+$74/mo · 47.9%)

ⓘ 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 · 24 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: $23,241
• − Mortgage interest: −$8,402
• − Property taxes: −$1,856
• − Insurance: −$750
• − Repairs & maintenance: −$1,859
• − Management: −$1,859
• − Depreciation: −$4,364
• Taxable income: $4,150
• Est. tax owed @ 24.0%: −$996
• After-tax cash flow: $5,319/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 — Royse City

• Score: 75/100
• State rank: #158
• US rank: #4292

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Rockwall County · 132,930 people
• City population: 48,739
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 48,739
• Household income: $117,125
• Rent vs Own: 11.5% rent · 88.5% own
• Severe rent burden: 569.0

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 0.57)
• Race & ethnicity: White 60% Hispanic / Latino 25% Two or more races 12% Black 10% Asian 2%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Slovak 2% Serbian 1% Lithuanian 1%
• Foreign-born: 10% · Canada, Philippines, Jamaica
• Languages at home: 80% English-only · Spanish 15% Other Indo-European 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: ▼ -71.10%
• Current HPI: 212.8422
• Rent YoY: ▼ -1.13%
• 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

-9.1% since first listed

14 events — show timeline

• 2026-05-16 Contingent — NTREIS
• 2026-04-14 Price Changed $150,000 NTREIS
• 2026-03-12 Listed $160,000 NTREIS
• 2024-09-30 Listing Removed — NTREIS
• 2024-09-30 Listing Removed — NTREIS
• 2024-07-24 Price Changed $160,000 NTREIS
• 2024-07-24 Price Changed $160,000 NTREIS
• 2024-06-14 Listed $180,000 NTREIS
• 2024-05-17 Listed $180,000 NTREIS
• 2022-07-04 Listing Removed — NTREIS
• 2022-06-04 Listing Removed — NTREIS
• 2022-05-03 Listed $165,000 NTREIS
• 2022-05-03 Listed $165,000 NTREIS
• 2003-06-18 Sold (Public Records) — Public Records

Property tax history

+6.6%/yr

Latest (2025): $1,856 · -6.1% YoY. Source: county tax records.