1111 Shorthorn St · Royse City, TX 75189

$274,990

4 bd · 2.0 ba · 1,962 sqft · SingleFamily · 94 Days on market

Built 2026 Excellent condition 6,000 sqft lot 2-car garage $140/sqft · 5% below area Est $290k · 5% under $65/mo HOA · 3% of rent ↓ 10% since listing

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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).

• Cash flow +13.9/30.0
• ARV discount +9.8/15.0
• Condition / age +5.0/5.0
• Schools +4.7/10.0
• 1% rule +4.2/10.0
• DSCR +4.2/10.0
• Livability +3.8/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

MLS# 21262498 - Built by Imagination Homes - Ready Now! ~ Imagination Homes proudly presents The Ballad — a thoughtfully designed 4-bedroom, 2-bathroom home offering 1,962 sq. ft. of open, inviting living space. From the moment you enter, you’re greeted by a wide, welcoming entryway that sets the tone for the home’s spacious and functional layout. Each bedroom is generously sized, providing comfort and flexibility for family, guests, or a home office. At the heart of the home, the open-concept kitchen, dining, and family room create a seamless flow that’s perfect for both everyday living and entertaining.

Key facts

• Open concept kitchen
• 6,000 sq ft lot
• 2 garage spots

Tags

• OPEN CONCEPT KITCHEN
• CORNER WALK-IN PANTRY
• LUXURIOUS EN-SUITE BATH
• SPACIOUS WALK-IN CLOSET

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $29 ($345/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $252k (8.2% below list).
• Recommended offer: $250k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.4% 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.
• Royse City ISD (rural): math 42% / reading 42% proficiency, ranked #266 of 826 in TX (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Davis El (math 52% / reading 41%, grade D-, #1,080 of 4,322 statewide, top 25%, 500 students, 52% FRL); Ouida Baley Middle (math 32% / reading 35%, grade F, #911 of 1,662 statewide, top 56%, 934 students, 43% FRL); Royse City H S (math 38% / reading 55%, grade D-, #621 of 1,632 statewide, top 38%, 2,526 students, 37% FRL).
• Market conditions: Rents soft (-1.1%/yr); 1569 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 65% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $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 94 days — a 9% lower offer ($250k) is reasonable based on typical stale-listing flexibility.

Recommended offer $250,240 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.92% ✗
• Cap rate: 6.42%
• Cash-on-cash: 0.45%
• DSCR: 1.02
• GRM: 9.1

CMA / ARV

• ARV (median comp): $289,990
• List price: $274,990
• Delta: -5.17%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3736 Prairie Chapel Rd	0.09mi	4/2.0	1,962 (0%)	2mo	$289,990	$148	94
3745 Prairie Chapel Rd	0.12mi	4/2.0	1,962 (0%)	2mo	$274,990	$140	92
3819 Prairie Chapel Rd	0.15mi	4/2.0	1,962 (0%)	2mo	$279,990	$143	91
3716 Prairie Chapel Rd	0.09mi	4/2.0	1,865 (-5%)	1mo	$274,990	$147	87
1132 Shorthorn St	0.05mi	4/2.0	2,083 (+6%)	1mo	$284,990	$137	86
3805 Prairie Chapel Rd	0.12mi	4/2.0	1,865 (-5%)	2mo	$273,990	$147	84
3607 Brewster Ln	0.06mi	4/2.0	2,167 (+10%)	2mo	$299,990	$138	78
3720 Prairie Chapel Rd	0.09mi	4/2.0	2,168 (+10%)	0mo	$299,990	$138	78
1025 Saint Matthew Cir	0.30mi	3/2.5 (-1)	1,971 (+0%)	1mo	$265,000	$134	77
3816 Prairie Chapel Rd	0.12mi	4/2.0	2,168 (+10%)	2mo	$294,990	$136	75
3220 Larry Lott Blvd	0.39mi	3/2.0 (-1)	1,925 (-2%)	0mo	$392,605	$204	73
1112 Pitchfork Rd	0.52mi	3/2.5 (-1)	2,164 (+10%)	2mo	$387,941	$179	50

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: -19.1%
• Equity multiple: 0.35×
• Total profit: $-50,051
• Equity at exit: $41,002

10-year hold

• IRR: -19.8%
• Equity multiple: 0.10×
• Total profit: $-69,499
• Equity at exit: $23,776

Cash invested: $76,997 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 53 active · 18 under contract
• Months of supply: 13.2 mo (8%/mo absorbed)
• Median asking: $330,000 ($164/sqft)
• Median days on market: 144 d
• This list price: 4% of active listings are priced below it
• ARV vs active asking: -10.0% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 75189

• Home prices YoY: -25.0%
• Rents YoY: -1.1%
• Active inventory: 1569
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,524 high
• Mortgage (P&I): −$1,442
• Tax est. 1.5%: −$344 /mo · $4,125/yr
• Insurance: −$115
• HOA: −$65
• Vacancy / Maint / Mgmt: −$530
• Net cashflow: $29

Break-even live

Break-even rent $2,488

Max offer price $274,990

Occupancy floor 94%

Sensitivity live

Price	-10% $219	-5% $124	+0% $29	+5% $-66	+10% $-161
Rent	-10% $-171	-5% $-71	+0% $29	+5% $128	+10% $228
Rate	-1.0pp $167	-0.5pp $99	base $29	+0.5pp $-43	+1.0pp $-115

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: $68,748
• Closing costs: $8,250
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3745 Prairie Chapel Rd Royse City, TX	4.0	2.0	1962	$2,300	$1.17	0d	1	0.09mi
2401 Green River Rd Royse City, TX	4.0	3.0	2184	$2,700	$1.24	31d	1	1.04mi
2401 Green River Rd Royse City, TX	4.0	3.0	2184	$2,500	$1.14	0d	1	1.04mi
2412 Green River Rd Royse City, TX	4.0	3.5	2547	$2,600	$1.02	23d	1	1.08mi
2420 Green River Rd Royse City, TX	4.0	3.5	2262	$2,700	$1.19	61d	1	1.08mi
2629 Green River Rd Royse City, TX	4.0	3.0	2182	$2,500	$1.15	0d	1	1.11mi
2629 Green River Rd Royse City, TX	4.0	3.0	2182	$2,500	$1.15	73d	1	1.11mi
2413 Spring Side Dr Royse City, TX	4.0	3.0	2164	$2,190	$1.01	93d	1	1.14mi
2717 Green River Rd Royse City, TX	3.0	2.5	1935	$2,199	$1.14	56d	1	1.14mi
2717 Green River Rd Royse City, TX	3.0	3.0	1935	$2,099	$1.08	2d	1	1.14mi
2721 Green River Rd Royse City, TX	4.0	3.5	2289	$2,299	$1.00	93d	1	1.14mi
2529 Moser Ln Royse City, TX	4.0	3.0	2174	$2,600	$1.20	43d	1	1.17mi
3109 Leatherwood Ln Royse City, TX	4.0	2.0	1800	$2,050	$1.14	42d	1	1.21mi
3109 Leatherwood Ln Royse City, TX	4.0	2.0	1800	$2,295	$1.27	61d	1	1.21mi
2805 Caroline St Royse City, TX	4.0	3.5	2550	$2,450	$0.96	46d	1	1.22mi
3100 Leatherwood Ln Royse City, TX	4.0	2.5	2544	$2,600	$1.02	59d	1	1.24mi
3032 Leatherwood Ln Royse City, TX	3.0	2.0	1586	$2,000	$1.26	0d	1	1.26mi

Property features AI

Finance

• Other: Community features include pool, playground, sprinklers, greenbelt, and sidewalksLocated in the Clearview Ranch subdivision
• Financial info: Treat as clear loan typeNo second mortgage indicated
• HOA & community: Mandatory HOAAnnual association fee of $775Association covers grounds and structure maintenance and management feesHOA managed by Neighborhood Management, Inc.

Exterior

• Parking: Attached 2-car garage with automatic opener and garage faces front2 covered parking spacesDriveway
• Security: Smoke detector(s)
• Utilities: City waterCity sewerIndividual gas meterIndividual water meterElectricity available and connectedUnderground utilitiesCurbs and sidewalksCommunity mailbox
• Home design: Single family residenceOne storyNew construction (incomplete, 2026)
• Construction: Brick and frame construction with siding and radiant barrierComposition shingle roofSlab foundationYear built 2026 (new construction - incomplete)
• Exterior features: Covered porch(es)Covered patio/porchBack yard with wood fencingCorner lotAdjacent to greenbelt

Interior

• Kitchen: DishwasherGas rangeMicrowaveDisposalKitchen islandBreakfast barBuilt-in cabinetsEat-in kitchenWalk-in pantrySolid surface (non-natural) counters
• Bedrooms: 4 bedrooms (all on main level)Primary bedroom with ensuite bath, separate shower, dual sinks, and walk-in closet
• Flooring: CarpetLuxury vinyl plank
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (natural gas)ENERGY STAR qualified equipment and installationCentral electric air conditioning
• Interior features: Open floorplanKitchen islandPantryWalk-in closet(s)Granite countersCable TV availableHigh speed internet available
• Laundry & utility: Full-size washer/dryer areaWasher hookupElectric dryer hookupUtility room / separate utility room

Listing history 50 events

1. 2026-08-08
   days on market $274,990 Active 94 DOM
2. 2026-08-06
   days on market $274,990 Active 92 DOM
3. 2026-08-05
   days on market $274,990 Active 91 DOM
4. 2026-08-04
   days on market $274,990 Active 90 DOM
5. 2026-08-03
   days on market $274,990 Active 89 DOM
6. 2026-07-31
   days on market $274,990 Active 86 DOM
7. 2026-07-30
   days on market $274,990 Active 84 DOM
8. 2026-07-28
   days on market $274,990 Active 83 DOM
9. 2026-07-26
   days on market $274,990 Active 81 DOM
10. 2026-07-24
    days on market $274,990 Active 79 DOM
11. 2026-07-23
    days on market $274,990 Active 78 DOM
12. 2026-07-22
    days on market $274,990 Active 77 DOM
13. 2026-07-21
    days on market $274,990 Active 76 DOM
14. 2026-07-20
    days on market $274,990 Active 75 DOM
15. 2026-07-18
    days on market $274,990 Active 73 DOM
16. 2026-07-18
    days on market $274,990 Active 72 DOM
17. 2026-07-16
    days on market $274,990 Active 71 DOM
18. 2026-07-15
    days on market $274,990 Active 70 DOM
19. 2026-07-14
    days on market $274,990 Active 69 DOM
20. 2026-07-13
    days on market $274,990 Active 68 DOM
21. 2026-07-13
    days on market $274,990 Active 67 DOM
22. 2026-07-11
    days on market $274,990 Active 66 DOM
23. 2026-07-10
    days on market $274,990 Active 65 DOM
24. 2026-07-09
    days on market $274,990 Active 64 DOM
25. 2026-07-07
    days on market $274,990 Active 62 DOM
26. 2026-07-06
    days on market $274,990 Active 61 DOM
27. 2026-07-06
    days on market $274,990 Active 60 DOM
28. 2026-07-05
    days on market $274,990 Active 59 DOM
29. 2026-07-03
    days on market $274,990 Active 58 DOM
30. 2026-07-02
    days on market $274,990 Active 57 DOM
31. 2026-07-01
    days on market $274,990 Active 56 DOM
32. 2026-06-30
    days on market $274,990 Active 55 DOM
33. 2026-06-29
    days on market $274,990 Active 54 DOM
34. 2026-06-28
    days on market $274,990 Active 53 DOM
35. 2026-06-27
    days on market $274,990 Active 52 DOM
36. 2026-06-26
    pricedays on market $274,990 Active 51 DOM
37. 2026-06-24
    days on market $279,990 Active 49 DOM
38. 2026-06-22
    days on market $279,990 Active 47 DOM
39. 2026-06-21
    days on market $279,990 Active 46 DOM
40. 2026-06-18
    days on market $279,990 Active 43 DOM
41. 2026-06-17
    days on market $279,990 Active 42 DOM
42. 2026-06-16
    days on market $279,990 Active 41 DOM
43. 2026-06-15
    days on market $279,990 Active 40 DOM
44. 2026-06-13
    pricedays on market $279,990 Active 38 DOM
45. 2026-06-09
    days on market $289,990 Active 34 DOM
46. 2026-06-08
    days on market $289,990 Active 33 DOM
47. 2026-06-07
    days on market $289,990 Active 32 DOM
48. 2026-06-04
    days on market $289,990 Active 29 DOM
49. 2026-06-03
    days on market $289,990 Active 28 DOM
50. 2026-06-02
    days on market $289,990 Active 27 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $30,290
• − Mortgage interest: −$15,404
• − Property taxes: −$4,125
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,423
• − Management: −$2,423
• − HOA: −$780
• − Depreciation: −$8,000
• Taxable loss: −$4,239
• Est. tax savings @ 24.0%: +$1,017
• After-tax cash flow: $1,362/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 · 21 photos

Excellent 100/100 None rehab

This home is in excellent condition with modern finishes and a well-maintained exterior. It is move-in ready and would benefit from minor updates to enhance its curb appeal and rental value.

Value-add opportunities

• Resale Painting the interior walls — Fresh paint can enhance the home's curb appeal and make it more inviting. ↑
• Rental Landscaping improvements — A well-maintained yard can attract more renters and increase rental value. ↑
• Both Adding smart home features — Smart home features can increase both resale and rental value by making the home more modern and convenient for potential buyers and renters. ↑

F Composite school gradezoned avg 46/100

Zoned Schools

Elementary Davis El D- TX #1,080/4,322 Nat'l #15,452/41,679 High Royse City H S D- TX #621/1,632 Nat'l #6,621/17,239

Schools (NCES district)

• District: Royse City ISD
• NCES district ID: 4838220
• Math proficiency: 42% ▼ -10.00%
• Reading proficiency: 42% ▼ -5.00%
• Median HH income: $73,810
• Composite: 38.44/100
• National rank: #4197
• State rank: #266 of 826 in TX

B Composite livability gradescore 75/100

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

• Census place: Royse City, TX
• County: Rockwall County · 1,210,074 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: 22% of renters

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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%

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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%

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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

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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

Property features AI

Finance

• Other: Community features include pool, playground, sprinklers, greenbelt, and sidewalksLocated in the Clearview Ranch subdivision
• Financial info: Treat as clear loan typeNo second mortgage indicated
• HOA & community: Mandatory HOAAnnual association fee of $775Association covers grounds and structure maintenance and management feesHOA managed by Neighborhood Management, Inc.

Exterior

• Parking: Attached 2-car garage with automatic opener and garage faces front2 covered parking spacesDriveway
• Security: Smoke detector(s)
• Utilities: City waterCity sewerIndividual gas meterIndividual water meterElectricity available and connectedUnderground utilitiesCurbs and sidewalksCommunity mailbox
• Home design: Single family residenceOne storyNew construction (incomplete, 2026)
• Construction: Brick and frame construction with siding and radiant barrierComposition shingle roofSlab foundationYear built 2026 (new construction - incomplete)
• Exterior features: Covered porch(es)Covered patio/porchBack yard with wood fencingCorner lotAdjacent to greenbelt

Interior

• Kitchen: DishwasherGas rangeMicrowaveDisposalKitchen islandBreakfast barBuilt-in cabinetsEat-in kitchenWalk-in pantrySolid surface (non-natural) counters
• Bedrooms: 4 bedrooms (all on main level)Primary bedroom with ensuite bath, separate shower, dual sinks, and walk-in closet
• Flooring: CarpetLuxury vinyl plank
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (natural gas)ENERGY STAR qualified equipment and installationCentral electric air conditioning
• Interior features: Open floorplanKitchen islandPantryWalk-in closet(s)Granite countersCable TV availableHigh speed internet available
• Laundry & utility: Full-size washer/dryer areaWasher hookupElectric dryer hookupUtility room / separate utility room

Price history

-9.7% since first listed

4 events — show timeline

• 2026-06-12 Price Changed $279,990 NTREIS
• 2026-05-29 Price Changed $289,990 NTREIS
• 2026-05-09 Price Changed $299,990 NTREIS
• 2026-05-06 Listed $309,990 NTREIS