116 Thoroughbred Dr · Hickory Creek, TX 75065

$920,000

5 bd · 4.0 ba · 4,454 sqft · SingleFamily public records · 36 Days on market

Built 2019 0.44 ac lot $207/sqft · 10% above area Est $833k · 10% over $79/mo HOA · 1% of rent

---

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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• Livability +3.6/5.0
• Schools +3.4/10.0
• ARV discount +2.8/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MLS# 14255645 - Built by First Texas Homes - Ready Now! ~ Gorgeous home located in a beautiful equestrian neighborhood called Steeplechase. Gourment kitchen with custom cabinets up to the ceiling in the kitchen and butlers. Marble quartz on oversized island and countertops, plus decorative backsplash. Double ovens with built-in microwave and 5 burner gas cooktop. 8 foot doors on first floor and a fabulous fireplace that truly makes a statement. Home is loaded with amenities. Must see!!!

Key facts

• Gourmet kitchen
• Butler's pantry
• Equestrian community

Tags

• OVERSIZED LOT
• EQUESTRIAN COMMUNITY
• GOURMET KITCHEN
• WALK-IN PANTRY
• BUTLER'S PANTRY
• DOUBLE OVENS

Property features AI

Finance

• Other: Possession at closing/funding; Listing accepts Cash, Conventional, FHA
• HOA & community: Mandatory HOA (Steeplechase Ranch HOA); HOA fee $950 annually; HOA covers grounds maintenance

Exterior

• Parking: Attached garage with 3 spaces; Garage faces front; Garage door opener; Golf cart garage; Driveway; Epoxy flooring in garage/carport areas
• Security: Burglar alarm system
• Utilities: City water; City sewer; Located in a municipal utility district
• Home design: Single-family residence; Two levels; Residential property; Deed restrictions
• Construction: Built in 2019; Brick construction; Shingle roof; Slab foundation
• Exterior features: Attached grill; Covered porch; Covered patio; Landscaped yard; Large backyard with grass; Sprinkler system; Interior lot; Metal fencing in back yard

Interior

• Kitchen: Built-in gas range; Double oven; Dishwasher; Disposal; Plumbed for gas in kitchen; Vented exhaust fan
• Bedrooms: Primary bedroom on level 1 with ensuite bath, jetted tub, separate shower, dual sinks, linen closet, custom closet system, walk-in closet; Four additional bedrooms (several on level 2) with walk-in closets
• Flooring: Carpet; Ceramic tile
• Bathrooms: Four full bathrooms
• Heating & cooling: Central heating (natural gas); Central air; Ceiling fans
• Interior features: Cable TV available; Decorative lighting; Eat-in kitchen; Granite counters; High speed internet available; Kitchen island; Pantry; Vaulted ceilings; Walk-in closets; Wet bar; Window coverings
• Laundry & utility: Utility room; Full-size washer/dryer area; Washer hookup; Tankless water heater

What this means for you Summary

Snapshot

• This is a 5-bed/4.0-bath single-family listed at $920k.

Deal economics

• At list price, monthly cash flow is $4k ($44k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $920k).
• Recommended offer: $892k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 2.6% in Hickory Creek — 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 72/100 on livability (#238 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D+, amenities F, commute F.
• Lake Dallas ISD (suburban): math 34% / reading 39% proficiency, ranked #413 of 826 in TX (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Corinth El (math 22% / reading 33%, grade F, #2,768 of 4,322 statewide, top 65%, 580 students, 44% FRL).
• Market conditions: 130 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 10,531 units permitted in Denton County in 2024 (2,713 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $28k of value loss. Plan a longer hold.
• Denton County population projected at +66% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $258k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($892k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• 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 $892,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
5. 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.
6. 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.
7. 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: 1.40% ✓
• Cap rate: 11.08%
• Cash-on-cash: 17.11%
• DSCR: 1.76
• GRM: 6.0

CMA / ARV

• ARV (median comp): $832,586
• List price: $920,000
• Delta: 10.50%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
300 Pimlico Dr	0.13mi	5/4.0	3,976 (-11%)	0mo	$859,900	$216	76
217 Pimlico Dr	0.13mi	4/4.5 (-1)	4,103 (-8%)	7mo	$850,000	$207	68
206 Stallion Ln	0.11mi	6/4.0 (+1)	4,046 (-9%)	11mo	$899,900	$222	66
324 Pimlico Dr	0.24mi	6/4.0 (+1)	4,414 (-1%)	23mo	$849,000	$192	63
332 Secretariat Dr	0.26mi	5/5.0	4,872 (+9%)	15mo	$979,000	$201	55
308 Secretariat Dr	0.22mi	4/3.5 (-1)	3,821 (-14%)	10mo	$925,000	$242	51

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.4%
• Equity multiple: 1.33×
• Total profit: $85,186
• Equity at exit: $137,175

10-year hold

• IRR: 17.7%
• Equity multiple: 2.46×
• Total profit: $376,602
• Equity at exit: $79,545

Cash invested: $257,600 (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 75065

• Home prices YoY: -6.8%
• Active inventory: 130
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $12,870 medium
• Mortgage (P&I): −$4,825
• Tax from tax record: −$1,206 /mo · $14,474/yr
• Insurance: −$383
• HOA: −$79
• Vacancy / Maint / Mgmt: −$2,703
• Net cashflow: $3,674

Break-even live

Break-even rent $8,219

Max offer price $920,000

Occupancy floor 66%

Sensitivity live

Price	-10% $4,195	-5% $3,934	+0% $3,674	+5% $3,413	+10% $3,153
Rent	-10% $2,657	-5% $3,165	+0% $3,674	+5% $4,182	+10% $4,691
Rate	-1.0pp $4,137	-0.5pp $3,908	base $3,674	+0.5pp $3,435	+1.0pp $3,193

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: $230,000
• Closing costs: $27,600
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 Barkley Dr Unit 1391266P Hickory Creek, TX	4.0	3.0	3239	$15,242	$4.71	25d	1	1.12mi
201 Barkley Dr Lake Dallas, TX	4.0	3.0	3243	$10,500	$3.24	22d	1	1.12mi

HOA detail

• Monthly dues: $79 · $948/yr
• Likely covers: gas

Listing history 21 events

1. 2026-06-18
   days on market $920,000 Active 36 DOM
2. 2026-06-17
   days on market $920,000 Active 35 DOM
3. 2026-06-16
   days on market $920,000 Active 34 DOM
4. 2026-06-15
   days on market $920,000 Active 33 DOM
5. 2026-06-13
   days on market $920,000 Active 31 DOM
6. 2026-06-09
   days on market $920,000 Active 27 DOM
7. 2026-06-08
   days on market $920,000 Active 26 DOM
8. 2026-06-07
   days on market $920,000 Active 25 DOM
9. 2026-06-04
   days on market $920,000 Active 22 DOM
10. 2026-06-03
    days on market $920,000 Active 21 DOM
11. 2026-06-02
    days on market $920,000 Active 20 DOM
12. 2026-06-01
    days on market $920,000 Active 19 DOM
13. 2026-05-31
    days on market $920,000 Active 18 DOM
14. 2026-05-13
    listed $920,000 Active 1588-char remark
15. 2026-05-01
    soldstatus
16. 2025-11-04
    historical
17. 2025-10-08
    listed $925,000 Active
18. 2020-08-17
    soldstatus Sold

    Show marketing remark (491 chars)

    MLS# 14255645 - Built by First Texas Homes - Ready Now! ~ Gorgeous home located in a beautiful equestrian neighborhood called Steeplechase. Gourment kitchen with custom cabinets up to the ceiling in the kitchen and butlers. Marble quartz on oversized island and countertops, plus decorative backsplash. Double ovens with built-in microwave and 5 burner gas cooktop. 8 foot doors on first floor and a fabulous fireplace that truly makes a statement. Home is loaded with amenities. Must see!!!

19. 2020-06-30
    status Pending

    Show marketing remark (491 chars)

    MLS# 14255645 - Built by First Texas Homes - Ready Now! ~ Gorgeous home located in a beautiful equestrian neighborhood called Steeplechase. Gourment kitchen with custom cabinets up to the ceiling in the kitchen and butlers. Marble quartz on oversized island and countertops, plus decorative backsplash. Double ovens with built-in microwave and 5 burner gas cooktop. 8 foot doors on first floor and a fabulous fireplace that truly makes a statement. Home is loaded with amenities. Must see!!!

20. 2020-03-26
    price $668,995

    Show marketing remark (491 chars)

    MLS# 14255645 - Built by First Texas Homes - Ready Now! ~ Gorgeous home located in a beautiful equestrian neighborhood called Steeplechase. Gourment kitchen with custom cabinets up to the ceiling in the kitchen and butlers. Marble quartz on oversized island and countertops, plus decorative backsplash. Double ovens with built-in microwave and 5 burner gas cooktop. 8 foot doors on first floor and a fabulous fireplace that truly makes a statement. Home is loaded with amenities. Must see!!!

21. 2020-01-08
    listed $655,274 Active

    Show marketing remark (491 chars)

    MLS# 14255645 - Built by First Texas Homes - Ready Now! ~ Gorgeous home located in a beautiful equestrian neighborhood called Steeplechase. Gourment kitchen with custom cabinets up to the ceiling in the kitchen and butlers. Marble quartz on oversized island and countertops, plus decorative backsplash. Double ovens with built-in microwave and 5 burner gas cooktop. 8 foot doors on first floor and a fabulous fireplace that truly makes a statement. Home is loaded with amenities. Must see!!!

ⓘ 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: $14,474 · $1,206/mo
• Projected year-2 tax: $16,836 · $1,403/mo
• Expected delta: +$2,362/yr (+$197/mo · 16.3%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $154,434
• − Mortgage interest: −$51,534
• − Property taxes: −$14,474
• − Insurance: −$4,600
• − Repairs & maintenance: −$12,355
• − Management: −$12,355
• − HOA: −$948
• − Depreciation: −$26,764
• Taxable income: $31,405
• Est. tax owed @ 24.0%: −$7,537
• After-tax cash flow: $36,549/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: Lake Dallas ISD
• NCES district ID: 4826430
• Math proficiency: 34% ▼ -20.00%
• Reading proficiency: 39% ▼ -10.00%
• Median HH income: $76,645
• Composite: 34.13/100
• National rank: #5287
• State rank: #413 of 826 in TX

Livability — Hickory Creek

• Score: 72/100
• State rank: #238
• US rank: #5782

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hickory Creek, TX
• City population: 13,046
• Population (ZIP): 13,046

Population outlook (Denton County) Hauer SSP2

• Today (2025): 1,053,010 people
• By 2030: 1,192,269 · +13.2%
• By 2040: 1,472,920 · +39.9%
• By 2050: 1,746,506 · +65.9%
• By 2075: 2,358,497 · +124.0%
• By 2100: 2,779,183 · +163.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (62%)
• Race & ethnicity: White 62% Hispanic / Latino 27% Two or more races 13% Black 6% Asian 3%
• Hispanic origin (detail): Mexican 23%
• Common ancestry: Italian 9% Slovak 2% Serbian 1%
• Foreign-born: 20% · Canada, South Korea, United Kingdom
• Languages at home: 73% English-only · Spanish 21% Korean 2% Other Asian/Pacific 1%

Political lean MEDSL · Denton

• 2024 margin: R (+13.2) · D 42.7% · R 55.8% · Other 1.5%
• 2008→2024 swing: +11.0pp toward D · 2008: -24.2pp · 2024: -13.2pp
• All cycles: 2024: R+13.2 2020: R+8.1 2016: R+20.2 2012: R+31.7 2008: R+24.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -21.91%
• Current HPI: 300.0981
• Rent YoY: —
• Metro: —
• 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

+40.4% since first listed

8 events — show timeline

• 2026-05-13 Listed $920,000 NTREIS
• 2026-05-01 Sold (Public Records) — Public Records
• 2025-11-04 Listing Removed — NTREIS
• 2025-10-08 Listed $925,000 NTREIS
• 2020-08-17 Sold (MLS) — NTREIS
• 2020-06-30 Pending — NTREIS
• 2020-03-26 Price Changed $668,995 NTREIS
• 2020-01-08 Listed $655,274 NTREIS

Property tax history

+26.7%/yr

Latest (2025): $14,474 · +6.8% YoY. Source: county tax records.