6581 Meadow Ridge Cir

Wylie, TX 75173

$445,000D-

3 bd · 2.0 ba · 2,109 sqft · Built 2003 · SingleFamily · Active · 89 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,150/mo
• Mortgage (P&I): −$2,334
• Tax + insurance: −$683
• HOA: −$0
• Vac / Maint / Mgmt: −$662
• Net cashflow: $-528/mo
• Annual: $-6,336/yr
• Cap rate: 4.87%
• Cash-on-cash: -5.09%
• DSCR: 0.77
• 1% rule: 0.71%
• Cash to close: $124,600

Investor read

• This is a 3-bed/2.0-bath single-family listed at $445k.
• At list price, monthly cash flow is $-528 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $352k (21.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $315k (29.2% below list).
• It's been on market 89 days — a 6% lower offer ($418k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $315k (29.2% below list) — sets the bar for 1% rule.
• In year one you build about $48k of equity ($3k loan paydown + $44k appreciation (10.0% local appreciation)).
• Location reads 69/100 on livability (#419 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety 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: 421 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 19,194 units permitted in Collin County in 2024 (3,988 in 5+ unit buildings).
• Collin County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 21y 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.
• By year 2, paydown + projected appreciation supports a ~$76k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.9% vs local median 4.0% in Wylie — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 89 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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?
• 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?
• 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.
• 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.