513 Azalea Rd · Wylie, TX 75407

$193,490

2 bd · 2.5 ba · 1,130 sqft · SingleFamily · 25 Days on market

Built 2026 Excellent condition 3,572 sqft lot $171/sqft · 10% below area Est $215k · 10% under $42/mo HOA · 2% of rent ↓ 9% 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 +14.1/30.0
• ARV discount +12.1/15.0
• Condition / age +4.8/5.0
• DSCR +4.3/10.0
• 1% rule +4.2/10.0
• Schools +4.2/10.0
• Livability +3.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

New homes in Princeton, TX! Welcome to Arbor Trails! This gorgeous new Express homes community is located in Collin County, Branch , Princeton area off CR 437. DR Horton, your new home builder, we offer 3 different plans in Arbor Trails ranging from a 2 2.5 1 1,130 sq ft to a 4 2.5 1 that's 1,549 sq ft.

Key facts

• 3,572 sq ft lot
• Garage
• Built 2026

Property features AI

Finance

• Other: Green energy/efficiency features include 12-inch+ attic insulation, HVAC, thermostat, and energy-efficient windows
• Financial info: No second mortgage reported; Loan type: Treat As Clear
• HOA & community: Mandatory HOA with semi-annual fee of $250 (includes management fees); HOA managed by Neighborhood Managment

Exterior

• Parking: Attached garage (1 car) with 11' width and 20' length; Covered parking space
• Security: Smoke detectors; Carbon monoxide detector(s)
• Utilities: City water; City sewer; Municipal Utility District; Underground utilities
• Home design: Single family residence (residential); Two levels; Property is not attached; Subdivision: Arbor Trails North
• Construction: New construction — incomplete (year built 2026); Frame and siding construction; Composition roof; Slab foundation; Smart home features present
• Exterior features: Wood fencing; Concrete, curbs, and sidewalk; Underground utilities

Interior

• Kitchen: Dishwasher; Disposal; Electric oven; Electric range; Breakfast room on level 1 (10 x 10)
• Bedrooms: Primary bedroom on level 2 (12 x 13); Second bedroom on level 2 (10 x 11)
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms and 1 half bathroom (3 total)
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Cable TV available; High-speed internet available; Other interior features
• Laundry & utility: Appliances include disposal (utility connections implied)

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath single-family listed at $193k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $28 ($339/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 $178k (7.9% below list).
• Recommended offer: $178k (7.9% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 4.0% in Wylie — 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 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.
• Princeton ISD (suburban): math 51% / reading 47% proficiency, ranked #188 of 826 in TX (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mayfield El (609 students, 73% FRL) — zoned schools average 73% FRL vs 56% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.0%/yr); 1404 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 25 days — a 2% lower offer ($191k) is reasonable based on typical stale-listing flexibility.

Recommended offer $178,150 (7.9% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 6.47%
• Cash-on-cash: 0.63%
• DSCR: 1.03
• GRM: 9.1

CMA / ARV

• ARV (median comp): $215,303
• List price: $193,490
• Delta: -10.13%
• 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
713 Sandhill Crane Ln	0.16mi	3/2.5 (+1)	1,189 (+5%)	6mo	$185,924	$156	74
812 Sandhill Crane Ln	0.24mi	3/2.5 (+1)	1,189 (+5%)	5mo	$204,249	$172	71
902 Sandhill Crane Ln	0.31mi	3/2.5 (+1)	1,189 (+5%)	3mo	$190,000	$160	69
228 Tall Cedar Way	0.75mi	2/2.5	1,101 (-3%)	1mo	$209,620	$190	60
6507 Glade St	0.25mi	3/2.0 (+1)	1,266 (+12%)	2mo	$209,999	$166	60
6513 Waterfall Ln	0.70mi	2/2.0	1,099 (-3%)	1mo	$219,000	$199	60
6422 Willet Rd	0.24mi	3/2.0 (+1)	1,266 (+12%)	4mo	$201,949	$160	58
6506 Longspur Ln	0.25mi	3/2.0 (+1)	1,266 (+12%)	6mo	$209,349	$165	56
6517 Glade St	0.36mi	3/2.0 (+1)	1,266 (+12%)	3mo	$206,999	$164	54
6728 Teal Cir	0.49mi	3/2.0 (+1)	1,268 (+12%)	0mo	$239,999	$189	49
6804 Haines Dr	0.57mi	3/2.0 (+1)	1,260 (+12%)	6mo	$204,774	$163	42
5711 Bristle Leaf Dr	0.74mi	3/2.0 (+1)	1,255 (+11%)	6mo	$180,625	$144	34

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: -18.8%
• Equity multiple: 0.36×
• Total profit: $-34,725
• Equity at exit: $28,850

10-year hold

• IRR: -19.2%
• Equity multiple: 0.12×
• Total profit: $-47,886
• Equity at exit: $16,729

Cash invested: $54,177 (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 75407

• Home prices YoY: -30.3%
• Rents YoY: -1.0%
• Active inventory: 1404
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,782 high
• Mortgage (P&I): −$1,015
• Tax est. 1.5%: −$242 /mo · $2,902/yr
• Insurance: −$81
• HOA: −$42
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $28

Break-even live

Break-even rent $1,746

Max offer price $193,490

Occupancy floor 93%

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: $48,372
• Closing costs: $5,805
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
600 Sandhill Crane Ln Princeton, TX	3.0	2.0	1402	$2,100	$1.50	13d	1	0.09mi
6222 Sandpiper Ln Unit NA Princeton, TX	3.0	2.5	1400	$1,750	$1.25	7d	1	0.13mi
623 Linden Rd Princeton, TX	3.0	2.5	1419	$1,650	$1.16	44d	1	0.20mi
724 Wagtail Dr Princeton, TX	3.0	2.5	1360	$1,675	$1.23	2d	1	0.20mi
724 Wagtail Dr Princeton, TX	3.0	2.5	1360	$1,675	$1.23	3d	1	0.20mi
803 Wagtail Dr , TX	3.0	2.5	1360	$1,605	$1.18	22d	1	0.25mi
812 Sandhill Crane Ln Princeton, TX	3.0	2.5	1309	$1,850	$1.41	44d	1	0.26mi
6018 Primrose Rd , TX	3.0–4.0	2.5	1484	$1,800	$1.21	3d	5	0.27mi
6102 Pinion Trl , TX	3.0	2.5	1419	$1,600	$1.13	44d	1	0.27mi
6225 Kingfisher Way Princeton, TX	3.0	2.5	1290	$1,625	$1.26	5d	1	0.30mi
416 Finch CIR Princeton, TX	3.0	2.0	1266	$1,350	$1.07	44d	1	0.31mi
6313 Kingfisher Way Princeton, TX	3.0	3.0	1360	$1,650	$1.21	44d	1	0.31mi
914 Sandhill Crane Ln Princeton, TX	3.0	2.5	1189	$1,775	$1.49	7d	1	0.34mi
911 Sandhill Crane Ln Princeton, TX	3.0	2.5	1360	$1,575	$1.16	44d	1	0.34mi
910 Wood Stork Way Princeton, TX	2.0	2.5	1022	$1,700	$1.66	19d	1	0.34mi
241 Boxberry Way Princeton, TX	3.0	2.0	1411	$1,725	$1.22	44d	1	0.35mi
402 Harvest St Princeton, TX	3.0	2.0	1433	$1,665	$1.16	13d	1	0.36mi
935 Sandhill Crane Ln Princeton, TX	3.0	2.5	1189	$1,999	$1.68	19d	1	0.36mi
613 Holleman Dr , TX	3.0	2.0	1260	$2,000	$1.59	24d	1	0.37mi
545 Holleman Dr Princeton, TX	3.0	2.0	1474	$1,750	$1.19	44d	1	0.37mi
926 Wood Stork Way Princeton, TX	3.0	2.5	1285	$1,700	$1.32	24d	1	0.39mi
538 Montclair Ave Princeton, TX	3.0	2.0	1260	$1,775	$1.41	10d	1	0.40mi
214 Wheatgrass Ln Princeton, TX	3.0	2.0	1407	$1,699	$1.21	44d	1	0.43mi
134 Harvest St Princeton, TX	3.0	2.0	1440	$1,825	$1.27	19d	1	0.45mi
5847 Rock Maple Dr Princeton, TX	3.0	2.0	1481	$1,785	$1.21	7d	1	0.49mi
5847 Rock Maple Dr Princeton, TX	3.0	2.0	1481	$1,785	$1.21	17d	1	0.49mi
143 Plumcove Dr Princeton, TX	3.0	3.0	1376	$2,150	$1.56	44d	1	0.50mi
6561 Alfalfa St Princeton, TX	3.0	2.0	1436	$1,599	$1.11	44d	1	0.52mi
5836 Crystal Water Way Princeton, TX	3.0	2.0	1481	$1,799	$1.21	5d	1	0.52mi
6550 August Dr Princeton, TX	3.0	2.0	1407	$1,695	$1.20	4d	1	0.52mi
6744 Teal Cir Princeton, TX	3.0	2.0	1474	$1,790	$1.21	21d	1	0.53mi
6445 Middlebury Dr Princeton, TX	3.0	2.0	1266	$1,649	$1.30	7d	1	0.54mi
5808 Cherry Hollow Way Princeton, TX	3.0	2.0	1260	$1,749	$1.39	18d	1	0.54mi
6751 Highlands St Princeton, TX	3.0	2.0	1411	$1,639	$1.16	17d	1	0.55mi
228 Rubylace Dr Princeton, TX	3.0	2.0	1436	$1,700	$1.18	44d	1	0.58mi
206 Sunflower St Princeton, TX	3.0	2.0	1155	$1,475	$1.28	21d	1	0.60mi
6203 Holly Spring Rd , TX	2.0	2.5	1130	$1,595	$1.41	44d	1	0.60mi
6114 Holly Spring Rd , TX	2.0	2.5	1351	$1,550	$1.15	13d	1	0.60mi
6114 Holly Spring Rd , TX	2.0	2.5	1130	$1,675	$1.48	44d	1	0.60mi
318 Mahogany Ln Princeton, TX	3.0	2.0	1479	$1,800	$1.22	24d	1	0.61mi

HOA detail

• Monthly dues: $42 · $504/yr

Listing history 5 events

1. 2026-06-02
   statusdays on market $193,490 Pending 25 DOM
2. 2026-06-01
   days on market $193,490 Active 24 DOM
3. 2026-05-31
   days on market $193,490 Active 23 DOM
4. 2026-05-13
   listed $213,490 Active 1024-char remark
5. 2026-05-08
   listed $213,490 Active 304-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: $21,378
• − Mortgage interest: −$10,838
• − Property taxes: −$2,902
• − Insurance: −$967
• − Repairs & maintenance: −$1,710
• − Management: −$1,710
• − HOA: −$504
• − Depreciation: −$5,629
• Taxable loss: −$2,884
• Est. tax savings @ 24.0%: +$692
• After-tax cash flow: $1,031/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 · 6 photos

Excellent 95/100 None rehab

This home is in excellent condition with no visible repairs needed. It offers a modern kitchen, well-maintained bathrooms, and a solid foundation. Potential value-adding updates include painting, landscaping, and smart home technology.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhanced landscaping can increase curb appeal and property value.
• Both Add a smart home system — A smart home system can increase convenience and add value to the property.
• Both Install energy-efficient windows — Energy-efficient windows can reduce energy costs and improve the home's value.
• Both Add a smart thermostat — A smart thermostat can improve energy efficiency and add value to the property.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can increase curb appeal and property value. ↑
• Both Add a smart home system — A smart home system can increase convenience and add value to the property. ↑
• Both Install energy-efficient windows — Energy-efficient windows can reduce energy costs and improve the home's value. ↑
• Both Add a smart thermostat — A smart thermostat can improve energy efficiency and add value to the property. ↑

ⓘ 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: Princeton ISD
• NCES district ID: 4835850
• Math proficiency: 51% ▼ -8.00%
• Reading proficiency: 47% ▬ 0.00%
• Median HH income: $54,827
• Composite: 42.44/100
• National rank: #3226
• State rank: #188 of 826 in TX

Livability — Wylie

• Score: 69/100
• State rank: #419
• US rank: #8623

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Collin County · 1,159,394 people
• City population: 69,325
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 34,171
• Household income: $100,037
• Rent vs Own: 23.8% rent · 76.2% own
• Severe rent burden: 368.0

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 0.66)
• Race & ethnicity: White 47% Hispanic / Latino 30% Black 17% Two or more races 10% Asian 4% Native American 1%
• Hispanic origin (detail): Mexican 26%
• Common ancestry: Lithuanian 2% Romanian 1% Russian 1%
• Foreign-born: 15% · Canada, China, Mexico
• Languages at home: 70% English-only · Spanish 22% Other Indo-European 2% Other Asian/Pacific 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: ▼ -103.99%
• Current HPI: 238.9373
• Rent YoY: ▼ -1.02%
• 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

-9.4% since first listed

3 events — show timeline

• 2026-06-02 Pending — NTREIS
• 2026-05-24 Price Changed $193,490 NTREIS
• 2026-05-08 Listed $213,490 NTREIS