1111 Shorthorn St · Royse City, TX 75189

$279,990

4 bd · 2.0 ba · 1,962 sqft · SingleFamily · 43 Days on market

Built 2026 Excellent condition 6,000 sqft lot $143/sqft · 11% below area Est $315k · 11% 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 +12.5/15.0
• Condition / age +5.0/5.0
• 1% rule +4.2/10.0
• DSCR +4.2/10.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

MLS# 21262498 - Built by Imagination Homes - Jun 2026 completion! ~ 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. The chef-inspired kitchen boasts abundant cabinetry,

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

Property features AI

Finance

• Other: Community features include pool, playground, sprinklers, greenbelt, and sidewalks; Located in the Clearview Ranch subdivision
• Financial info: Treat as clear loan type; No second mortgage indicated
• HOA & community: Mandatory HOA; Annual association fee of $775; Association covers grounds and structure maintenance and management fees; HOA managed by Neighborhood Management, Inc.

Exterior

• Parking: Attached 2-car garage with automatic opener and garage faces front; 2 covered parking spaces; Driveway
• Security: Smoke detector(s)
• Utilities: City water; City sewer; Individual gas meter; Individual water meter; Electricity available and connected; Underground utilities; Curbs and sidewalks; Community mailbox
• Home design: Single family residence; One story; New construction (incomplete, 2026)
• Construction: Brick and frame construction with siding and radiant barrier; Composition shingle roof; Slab foundation; Year built 2026 (new construction - incomplete)
• Exterior features: Covered porch(es); Covered patio/porch; Back yard with wood fencing; Corner lot; Adjacent to greenbelt

Interior

• Kitchen: Dishwasher; Gas range; Microwave; Disposal; Kitchen island; Breakfast bar; Built-in cabinets; Eat-in kitchen; Walk-in pantry; Solid 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: Carpet; Luxury vinyl plank
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (natural gas); ENERGY STAR qualified equipment and installation; Central electric air conditioning
• Interior features: Open floorplan; Kitchen island; Pantry; Walk-in closet(s); Granite counters; Cable TV available; High speed internet available
• Laundry & utility: Full-size washer/dryer area; Washer hookup; Electric dryer hookup; Utility room / separate utility room

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $280k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $30 ($363/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 $257k (8.2% below list).
• Recommended offer: $257k (8.2% below list) — sets the bar for 1% rule.
• 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: schools C-, 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.
• Market conditions: Rents soft (-1.1%/yr); 1288 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 7d 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 $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 43 days — a 3% lower offer ($272k) is reasonable based on typical stale-listing flexibility.

Recommended offer $256,986 (8.2% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 8% 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. 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?
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: 0.92% ✗
• Cap rate: 6.42%
• Cash-on-cash: 0.46%
• DSCR: 1.02
• GRM: 9.1

CMA / ARV

• ARV (median comp): $314,990
• List price: $279,990
• Delta: -11.11%
• Verdict: UNDERPRICED
• Comps: 19 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%)	0mo	$289,990	$148	95
3745 Prairie Chapel Rd	0.12mi	4/2.0	1,962 (0%)	1mo	$274,990	$140	94
3819 Prairie Chapel Rd	0.15mi	4/2.0	1,962 (0%)	1mo	$279,990	$143	92
3713 Prairie Chapel Rd	0.11mi	4/2.0	1,962 (0%)	3mo	$289,990	$148	92
3805 Prairie Chapel Rd	0.12mi	4/2.0	1,865 (-5%)	1mo	$273,990	$147	85
3740 Prairie Chapel Rd	0.09mi	4/2.0	1,865 (-5%)	4mo	$274,990	$147	84
3717 Prairie Chapel Rd	0.11mi	4/2.0	2,083 (+6%)	2mo	$287,990	$138	83
3741 Prairie Chapel Rd	0.12mi	4/2.0	2,083 (+6%)	3mo	$284,990	$137	82
3820 Prairie Chapel Rd	0.13mi	4/2.0	2,083 (+6%)	3mo	$304,990	$146	81
3825 Prairie Chapel Rd	0.16mi	4/2.0	2,167 (+10%)	3mo	$314,990	$145	73
910 Saint Matthew Cir	0.22mi	3/2.5 (-1)	2,131 (+9%)	19mo	$379,000	$178	52
1112 Pitchfork Rd	0.52mi	3/2.5 (-1)	2,164 (+10%)	0mo	$387,941	$179	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -19.1%
• Equity multiple: 0.35×
• Total profit: $-50,897
• Equity at exit: $41,747

10-year hold

• IRR: -19.8%
• Equity multiple: 0.10×
• Total profit: $-70,625
• Equity at exit: $24,208

Cash invested: $78,397 (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: 9.1×

Monthly cashflow live

• Estimated rent: $2,570 high
• Mortgage (P&I): −$1,468
• Tax est. 1.5%: −$350 /mo · $4,200/yr
• Insurance: −$117
• HOA: −$65
• Vacancy / Maint / Mgmt: −$540
• Net cashflow: $30

Break-even live

Break-even rent $2,532

Max offer price $279,990

Occupancy floor 94%

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: $69,998
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3745 Prairie Chapel Rd Royse City, TX	4.0	2.0	1962	$2,400	$1.22	1d	1	0.09mi
2412 Green River Rd Royse City, TX	4.0	3.5	2547	$2,600	$1.02	1d	1	1.07mi
2420 Green River Rd Royse City, TX	4.0	3.5	2262	$2,700	$1.19	12d	1	1.08mi
2629 Green River Rd Royse City, TX	4.0	3.0	2182	$2,500	$1.15	24d	1	1.11mi
2629 Green River Rd Royse City, TX	4.0	3.0	2182	$2,500	$1.15	1d	1	1.11mi
2413 Spring Side Dr Royse City, TX	4.0	3.0	2164	$2,190	$1.01	43d	1	1.14mi
2717 Green River Rd Royse City, TX	3.0	2.5	1935	$2,199	$1.14	7d	1	1.14mi
2721 Green River Rd Royse City, TX	4.0	3.5	2289	$2,299	$1.00	43d	1	1.14mi
2529 Moser Ln Royse City, TX	4.0	3.0	2174	$2,600	$1.20	1d	1	1.17mi
3109 Leatherwood Ln Royse City, TX	4.0	2.0	1800	$2,295	$1.27	12d	1	1.21mi
2805 Caroline St Royse City, TX	4.0	3.5	2550	$2,450	$0.96	1d	1	1.22mi
3100 Leatherwood Ln Royse City, TX	4.0	2.5	2544	$2,600	$1.02	10d	1	1.24mi
3032 Leatherwood Ln Royse City, TX	3.0	2.0	1586	$2,100	$1.32	5d	1	1.26mi

HOA detail

• Monthly dues: $65 · $780/yr

Listing history 15 events

1. 2026-06-18
   days on market $279,990 Active 43 DOM
2. 2026-06-17
   days on market $279,990 Active 42 DOM
3. 2026-06-16
   days on market $279,990 Active 41 DOM
4. 2026-06-15
   days on market $279,990 Active 40 DOM
5. 2026-06-13
   pricedays on market $279,990 Active 38 DOM
6. 2026-06-09
   days on market $289,990 Active 34 DOM
7. 2026-06-08
   days on market $289,990 Active 33 DOM
8. 2026-06-07
   days on market $289,990 Active 32 DOM
9. 2026-06-04
   days on market $289,990 Active 29 DOM
10. 2026-06-03
    days on market $289,990 Active 28 DOM
11. 2026-06-02
    days on market $289,990 Active 27 DOM
12. 2026-06-01
    days on market $289,990 Active 26 DOM
13. 2026-05-31
    days on market $289,990 Active 25 DOM
14. 2026-05-09
    price $299,990 1519-char remark
15. 2026-05-06
    listed $309,990 Active 1519-char remark

ⓘ 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: $30,838
• − Mortgage interest: −$15,684
• − Property taxes: −$4,200
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,467
• − Management: −$2,467
• − HOA: −$780
• − Depreciation: −$8,145
• Taxable loss: −$4,305
• Est. tax savings @ 24.0%: +$1,033
• After-tax cash flow: $1,396/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.

Renovation cost estimate screening

Value-add ROI direction

• 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. ↑

ⓘ 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: 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

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 · 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

-9.7% 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