711 Heirloom Ln · Josephine, TX 75189

$213,000

4 bd · 2.0 ba · 1,785 sqft · SingleFamily public records · 90 Days on market

Built 2021 Poor condition 7,667 sqft lot $119/sqft · 23% below area Est $275k · 23% under ↓ 22% since listing

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Why this score? — see what drove the C- 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 +16.0/30.0
• ARV discount +15.0/15.0
• 1% rule +6.0/10.0
• DSCR +4.9/10.0
• Schools +3.2/10.0
• Livability +3.0/5.0
• Rent growth +2.2/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 711 Heirloom Lane in Josephine, TX, a single-story brick home offering a functional layout and excellent potential. The property features an open-concept living area, a spacious kitchen with ample cabinetry, and a design that allows for flexible layout and personalization. The exterior showcases classic brick construction, a covered entry, and a sizable backyard with room to create your ideal outdoor space. With strong bones and a versatile floor plan, this home presents a great opportunity for buyers looking to customize and make it their own or add value over time. Located in a growing area with convenient access to nearby schools, shopping, and major routes, this property offers both immediate livability and long-term potential.

Key facts

• Sizable backyard
• Spacious kitchen
• Covered entry

Tags

• OPEN-CONCEPT LIVING AREA
• SPACIOUS KITCHEN
• CLASSIC BRICK CONSTRUCTION
• COVERED ENTRY
• SIZABLE BACKYARD
• VERSATILE FLOOR PLAN

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $213k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $104 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $213k).
• Recommended offer: $200k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.9% vs local median 4.4% in Josephine — 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 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: schools F, 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.
• Market conditions: Rents soft (-1.1%/yr); 1288 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $6k 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 90 days — a 6% lower offer ($200k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $200,220 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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?
7. 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.
8. 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.
9. 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: 1.10% ✓
• Cap rate: 6.88%
• Cash-on-cash: 2.10%
• DSCR: 1.09
• GRM: 7.6

CMA / ARV

• ARV (median comp): $274,845
• List price: $213,000
• Delta: -22.50%
• 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
1417 Cotton Gin Ct	0.29mi	4/2.0	1,870 (+5%)	6mo	$265,000	$142	73
1102 Stockyard St	0.60mi	4/2.0	1,791 (+0%)	2mo	$244,900	$137	70
516 Wrangler Dr	0.21mi	3/2.0 (-1)	1,625 (-9%)	6mo	$250,000	$154	66
505 Cistern Way	0.32mi	3/2.0 (-1)	1,625 (-9%)	6mo	$250,000	$154	60
503 Silo Cir	0.71mi	4/2.0	1,732 (-3%)	2mo	$249,900	$144	60
1315 Blessed Ln	0.31mi	3/2.0 (-1)	1,611 (-10%)	8mo	$269,000	$167	58
1210 Honeysuckle Dr	0.36mi	5/2.0 (+1)	1,995 (+12%)	1mo	$268,000	$134	57
316 Cultivator Ct	0.46mi	4/2.0	1,554 (-13%)	8mo	$230,000	$148	50
406 Patina St	0.60mi	4/2.0	1,622 (-9%)	9mo	$250,000	$154	49
208 Cultivator Ct	0.57mi	4/2.0	1,537 (-14%)	6mo	$239,900	$156	45
504 Patina St	0.54mi	3/2.0 (-1)	1,533 (-14%)	4mo	$239,990	$157	43
1023 Cotton Gin Ct	0.62mi	5/2.0 (+1)	2,047 (+15%)	4mo	$274,000	$134	38

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: -16.9%
• Equity multiple: 0.42×
• Total profit: $-34,553
• Equity at exit: $31,759

10-year hold

• IRR: -17.1%
• Equity multiple: 0.21×
• Total profit: $-47,299
• Equity at exit: $18,416

Cash invested: $59,640 (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: 1288
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,349 high
• Mortgage (P&I): −$1,117
• Tax from tax record: −$545 /mo · $6,545/yr
• Insurance: −$89
• HOA: −$0
• Vacancy / Maint / Mgmt: −$493
• Net cashflow: $104

Break-even live

Break-even rent $2,217

Max offer price $213,000

Occupancy floor 91%

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: $53,250
• Closing costs: $6,390
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1413 Thunder Canyon Way Josephine, TX	5.0	2.0	2006	$2,500	$1.25	43d	1	0.08mi
1501 Bridle Dr Josephine, TX	4.0	2.0	2081	$1,975	$0.95	43d	1	0.25mi
903 Shear Dr Royse City, TX	3.0	2.5	1898	$2,000	$1.05	2d	1	0.26mi
711 Cistern Way Royse City, TX	4.0	2.0	2081	$1,975	$0.95	7d	1	0.28mi
1910 Bailer Way Royse City, TX	3.0	2.0	1592	$1,995	$1.25	24d	1	0.30mi
1503 Cotton Gin Ct Royse City, TX	3.0	2.0	1566	$2,200	$1.40	43d	1	0.30mi
816 Country Rd Royse City, TX	4.0	2.5	2080	$2,550	$1.23	1d	1	0.31mi
2000 Bailer Way Royse City, TX	3.0	2.5	1947	$2,500	$1.28	2d	1	0.32mi
503 Cistern Way Royse City, TX	3.0	2.0	1294	$1,795	$1.39	2d	1	0.34mi
508 Windrow Dr Royse City, TX	3.0	2.0	1533	$1,875	$1.22	24d	1	0.34mi
508 Windrow Dr Royse City, TX	3.0	2.0	1533	$1,900	$1.24	43d	1	0.34mi
1208 Fieldstone Ct Royse City, TX	4.0	2.0	1835	$2,000	$1.09	43d	1	0.34mi
2008 Bailer Way Royse City, TX	3.0	2.0	1509	$1,975	$1.31	18d	1	0.35mi
1210 Honeysuckle Dr Josephine, TX	5.0	2.0	1995	$2,100	$1.05	12d	1	0.36mi
916 Sunrise Ln Royse City, TX	3.0	2.0	1586	$1,900	$1.20	18d	1	0.52mi
1307 Community Way Royse City, TX	4.0	2.0	2104	$2,100	$1.00	43d	1	0.60mi
1007 Cotton Gin Ct Royse City, TX	3.0	2.0	1611	$2,050	$1.27	43d	1	0.64mi
1004 Cotton Gin Ct Royse City, TX	4.0	2.0	1875	$1,850	$0.99	12d	1	0.68mi
305 Silo Cir Royse City, TX	4.0	2.0	2074	$2,100	$1.01	24d	1	0.78mi
813 Cottonwood Way Royse City, TX	4.0	3.0	2347	$2,350	$1.00	12d	1	0.80mi
311 Milo Way Royse City, TX	4.0	2.0	2074	$2,200	$1.06	6d	1	0.80mi
717 Cottonwood WAY Josephine, TX	4.0	3.0	2073	$2,125	$1.03	1d	1	0.88mi
801 Meadow Creek Ln Josephine, TX	4.0	2.0	1757	$2,500	$1.42	4d	1	0.89mi
800 Windmill St Josephine, TX	4.0	2.0	1843	$2,100	$1.14	7d	1	0.90mi
722 Windmill St Josephine, TX	4.0	2.0	1568	$2,190	$1.40	2d	1	0.92mi
802 Turnbuckle Ct Royse City, TX	4.0	2.0	1577	$1,849	$1.17	43d	1	0.96mi
315 Pine Hollow Way Josephine, TX	4.0	3.0	2212	$2,300	$1.04	7d	1	1.07mi
214 Crooked Field Dr Royse City, TX	3.0	2.0	1398	$1,900	$1.36	24d	1	1.08mi
503 Saddle Blanket Dr Nevada, TX	4.0	3.0	2077	$2,190	$1.05	43d	1	1.30mi
306 E Cook St Josephine, TX	3.0	2.0	1817	$2,100	$1.16	1d	1	1.31mi
504 Saddle Blanket Dr Nevada, TX	4.0	2.0	1649	$1,949	$1.18	15d	1	1.32mi
504 Saddle Blanket Dr Nevada, TX	4.0	2.0	1649	$1,925	$1.17	6d	1	1.32mi
319 Plum Dr Nevada, TX	4.0	2.0	1587	$1,899	$1.20	10d	1	1.38mi

Listing history 19 events

1. 2026-06-18
   days on market $213,000 Active 90 DOM
2. 2026-06-17
   days on market $213,000 Active 89 DOM
3. 2026-06-16
   days on market $213,000 Active 88 DOM
4. 2026-06-15
   days on market $213,000 Active 87 DOM
5. 2026-06-13
   days on market $213,000 Active 85 DOM
6. 2026-06-13
   pricedays on market $213,000 Active 84 DOM
7. 2026-06-09
   days on market $225,000 Active 81 DOM
8. 2026-06-08
   days on market $225,000 Active 80 DOM
9. 2026-06-07
   days on market $225,000 Active 79 DOM
10. 2026-06-04
    days on market $225,000 Active 76 DOM
11. 2026-06-03
    days on market $225,000 Active 75 DOM
12. 2026-06-02
    days on market $225,000 Active 74 DOM
13. 2026-06-01
    days on market $225,000 Active 73 DOM
14. 2026-05-31
    days on market $225,000 Active 72 DOM
15. 2026-05-15
    price $225,000 755-char remark

    Show marketing remark (755 chars)

    Welcome to 711 Heirloom Lane in Josephine, TX, a single-story brick home offering a functional layout and excellent potential. The property features an open-concept living area, a spacious kitchen with ample cabinetry, and a design that allows for flexible layout and personalization. The exterior showcases classic brick construction, a covered entry, and a sizable backyard with room to create your ideal outdoor space. With strong bones and a versatile floor plan, this home presents a great opportunity for buyers looking to customize and make it their own or add value over time. Located in a growing area with convenient access to nearby schools, shopping, and major routes, this property offers both immediate livability and long-term potential.

16. 2026-05-08
    price $239,000 755-char remark

    Show marketing remark (755 chars)

    Welcome to 711 Heirloom Lane in Josephine, TX, a single-story brick home offering a functional layout and excellent potential. The property features an open-concept living area, a spacious kitchen with ample cabinetry, and a design that allows for flexible layout and personalization. The exterior showcases classic brick construction, a covered entry, and a sizable backyard with room to create your ideal outdoor space. With strong bones and a versatile floor plan, this home presents a great opportunity for buyers looking to customize and make it their own or add value over time. Located in a growing area with convenient access to nearby schools, shopping, and major routes, this property offers both immediate livability and long-term potential.

17. 2026-05-04
    price $252,000 755-char remark

    Show marketing remark (755 chars)

    Welcome to 711 Heirloom Lane in Josephine, TX, a single-story brick home offering a functional layout and excellent potential. The property features an open-concept living area, a spacious kitchen with ample cabinetry, and a design that allows for flexible layout and personalization. The exterior showcases classic brick construction, a covered entry, and a sizable backyard with room to create your ideal outdoor space. With strong bones and a versatile floor plan, this home presents a great opportunity for buyers looking to customize and make it their own or add value over time. Located in a growing area with convenient access to nearby schools, shopping, and major routes, this property offers both immediate livability and long-term potential.

18. 2026-03-23
    price $262,000 755-char remark

    Show marketing remark (755 chars)

    Welcome to 711 Heirloom Lane in Josephine, TX, a single-story brick home offering a functional layout and excellent potential. The property features an open-concept living area, a spacious kitchen with ample cabinetry, and a design that allows for flexible layout and personalization. The exterior showcases classic brick construction, a covered entry, and a sizable backyard with room to create your ideal outdoor space. With strong bones and a versatile floor plan, this home presents a great opportunity for buyers looking to customize and make it their own or add value over time. Located in a growing area with convenient access to nearby schools, shopping, and major routes, this property offers both immediate livability and long-term potential.

19. 2026-03-18
    listed $288,000 Active 755-char remark

    Show marketing remark (755 chars)

    Welcome to 711 Heirloom Lane in Josephine, TX, a single-story brick home offering a functional layout and excellent potential. The property features an open-concept living area, a spacious kitchen with ample cabinetry, and a design that allows for flexible layout and personalization. The exterior showcases classic brick construction, a covered entry, and a sizable backyard with room to create your ideal outdoor space. With strong bones and a versatile floor plan, this home presents a great opportunity for buyers looking to customize and make it their own or add value over time. Located in a growing area with convenient access to nearby schools, shopping, and major routes, this property offers both immediate livability and long-term potential.

ⓘ 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: $6,545 · $545/mo
• Projected year-2 tax: $6,545 · $545/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 3/10 Moderate
• 🌡 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: $28,183
• − Mortgage interest: −$11,931
• − Property taxes: −$6,545
• − Insurance: −$1,065
• − Repairs & maintenance: −$2,255
• − Management: −$2,255
• − Depreciation: −$6,196
• Taxable loss: −$2,064
• Est. tax savings @ 24.0%: +$495
• After-tax cash flow: $1,746/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.

Condition & rehab AI · 12 photos

Poor 20/100 Extensive rehab

This single-story brick home requires extensive renovations and repairs to bring it up to a livable condition. Immediate attention to exterior and interior maintenance is necessary to improve the property's value and appeal.

Repairs flagged

• Major Brick siding — Severe weathering and staining
• Major Windows — Dirty and need cleaning
• Major Landscaping — Sparse and unkempt
• Major Foundation — Uneven and cracked
• Major Paint — Peeling and graffiti
• Major Flooring — Worn and dirty
• Major Kitchen cabinets — Dated and in need of replacement
• Major Bathroom fixtures — Outdated and in need of replacement

Value-add opportunities

• Both Painting and repainting — Fresh paint can improve curb appeal and interior aesthetics
• Both Landscaping — A well-maintained yard can increase property value and curb appeal
• Both Kitchen renovation — Modernizing the kitchen can significantly increase the home's value and appeal
• Both Bathroom renovation — Upgrading bathrooms can enhance the home's value and functionality

Renovation cost estimate screening

Repair item	Severity	Est. cost
Brick siding · Severe weathering and staining	Major	$15,000–50,000
Windows · Dirty and need cleaning	Major	$15,000–50,000
Landscaping · Sparse and unkempt	Major	$15,000–50,000
Foundation · Uneven and cracked	Major	$15,000–50,000
Paint · Peeling and graffiti	Major	$15,000–50,000
Flooring · Worn and dirty	Major	$15,000–50,000
Kitchen cabinets · Dated and in need of replacement	Major	$15,000–50,000
Bathroom fixtures · Outdated and in need of replacement	Major	$15,000–50,000
Total estimated repair cost · 8 items		$120,000–400,000

Value-add ROI direction

• Both Painting and repainting — Fresh paint can improve curb appeal and interior aesthetics ↑
• Both Landscaping — A well-maintained yard can increase property value and curb appeal ↑
• Both Kitchen renovation — Modernizing the kitchen can significantly increase the home's value and appeal ↑
• Both Bathroom renovation — Upgrading bathrooms can enhance the home's value and functionality ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• County: Rockwall County · 132,930 people
• 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

-21.9% since first listed

5 events — show timeline

• 2026-05-15 Price Changed $225,000 NTREIS
• 2026-05-08 Price Changed $239,000 NTREIS
• 2026-05-04 Price Changed $252,000 NTREIS
• 2026-03-23 Price Changed $262,000 NTREIS
• 2026-03-18 Listed $288,000 NTREIS

Property tax history

+83.1%/yr

Latest (2025): $6,545 · -15.2% YoY. Source: county tax records.