2237 Colby Ln · Wylie, TX 75098

$255,000

3 bd · 2.0 ba · 1,234 sqft · MultiFamily public records · 18 Days on market

Built 2013 3,049 sqft lot $29/mo HOA · 1% of rent

---

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 +9.9/30.0
• ARV discount +7.5/15.0
• Schools +5.7/10.0
• 1% rule +3.6/10.0
• Livability +3.5/5.0
• DSCR +2.8/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Empty and Move-In Ready! Beautiful duplex built in 2013 and located in the highly desirable Wylie Lakes Villas community—just a short walk to Lake Lavon. Enjoy a peaceful, low-maintenance lifestyle surrounded by nature, with community hike & bike trails, scenic pond views, and mature trees throughout the neighborhood. This well-maintained home features: Gorgeous 42-inch custom cabinets Spacious layout with modern finishes Extended covered front porch, perfect for relaxing Low-maintenance exterior and community living Quiet and charming neighborhood atmosphere Vacant and move-in ready Can accommodate a quick closing Whether you're a homeowner looking for comfort and c

Key facts

• Pond
• Hike & bike trails
• 3,049 sq ft lot

Tags

• WALKING DISTANCE TO LAKE LAVON
• HIKE & BIKE TRAILS
• POND
• EXTENDED COVERED FRONT PORCH
• LOW MAINTENANCE LIFESTYLE

Property features AI

Finance

• Financial info: Treat As Clear loan type; No second mortgage indicated
• HOA & community: Mandatory HOA (managed by essex); HOA fees $175 semi-annually; HOA covers grounds maintenance and management fees

Exterior

• Parking: Attached garage (1-car) with approximately 10' width x 20' length; 1 covered parking space
• Utilities: City water; City sewer; Not in a municipal utility district
• Home design: Single family residence (attached); One story
• Construction: Built in 2013
• Exterior features: Lot less than 0.5 acre (approx. 0.07 acres); Subdivision: Wylie Lakes Ph 1b; Directions: From Plano Parkway; go 78 North; turn left on Eubank; turn right on Forest Ross; turn Right on Spencer; Turn Right on Colby Lane

Interior

• Kitchen: Dishwasher; Disposal; Electric cooktop
• Bedrooms: Primary bedroom on level 1, approximately 14 x 13
• Bathrooms: 2 full bathrooms
• Interior features: Built-in features; One living area; One dining area; Two total rooms (listed)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $255k.

Deal economics

• At list price, monthly cash flow is $-158 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $227k (11.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $219k (14.1% below list).
• Recommended offer: $219k (14.1% below list) — sets the bar for 1% rule.
• Cap rate 5.5% 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.
• Wylie ISD (suburban): math 64% / reading 63% proficiency, ranked #28 of 826 in TX (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: P M Akin El (math 52% / reading 62%, grade C+, #505 of 4,322 statewide, top 13%, 586 students, 30% FRL) — zoned schools at 30% FRL track the district average.
• Market conditions: Rents soft (-1.4%/yr); 704 active listings in the ZIP; 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 18 days — a 2% lower offer ($251k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $219,034 (14.1% below list)

Questions for the listing agent

1. 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?
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 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.86% ✗
• Cap rate: 5.55%
• Cash-on-cash: -2.66%
• DSCR: 0.88
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -24.4%
• Equity multiple: 0.19×
• Total profit: $-57,708
• Equity at exit: $38,021

10-year hold

• IRR: -33.0%
• Equity multiple: -0.23×
• Total profit: $-87,587
• Equity at exit: $22,048

Cash invested: $71,400 (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 75098

• Home prices YoY: -24.5%
• Rents YoY: -1.4%
• Active inventory: 704
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,190 medium
• Mortgage (P&I): −$1,337
• Tax from tax record: −$416 /mo · $4,993/yr
• Insurance: −$106
• HOA: −$29
• Vacancy / Maint / Mgmt: −$460
• Net cashflow: $-158

Break-even live

Break-even rent $2,391

Max offer price $227,044

Occupancy floor —

Sensitivity live

Price	-10% $-14	-5% $-86	+0% $-158	+5% $-230	+10% $-303
Rent	-10% $-331	-5% $-245	+0% $-158	+5% $-72	+10% $15
Rate	-1.0pp $-30	-0.5pp $-93	base $-158	+0.5pp $-224	+1.0pp $-292

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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $29 · $348/yr

Listing history 13 events

1. 2026-06-21
   days on market $255,000 Active 18 DOM
2. 2026-06-18
   days on market $255,000 Active 15 DOM
3. 2026-06-17
   days on market $255,000 Active 14 DOM
4. 2026-06-16
   remarks 689-char remark
5. 2026-06-16
   pricedays on market $255,000 Active 13 DOM
6. 2026-06-15
   days on market $260,000 Active 12 DOM
7. 2026-06-13
   days on market $260,000 Active 10 DOM
8. 2026-06-13
   days on market $260,000 Active 9 DOM
9. 2026-06-09
   days on market $260,000 Active 6 DOM
10. 2026-06-08
    days on market $260,000 Active 5 DOM
11. 2026-06-07
    days on market $260,000 Active 4 DOM
12. 2026-06-04
    remarks 655-char remark
13. 2026-06-04
    listed $260,000 Active 1 DOM

ⓘ 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: $4,993 · $416/mo
• Projected year-2 tax: $4,993 · $416/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,284
• − Mortgage interest: −$14,284
• − Property taxes: −$4,993
• − Insurance: −$1,275
• − Repairs & maintenance: −$2,103
• − Management: −$2,103
• − HOA: −$348
• − Depreciation: −$7,418
• Taxable loss: −$6,240
• Est. tax savings @ 24.0%: +$1,498
• After-tax cash flow: $-401/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: Wylie ISD
• NCES district ID: 4846530
• Math proficiency: 64% ▼ -9.00%
• Reading proficiency: 63% ▼ -3.00%
• Median HH income: $84,145
• Composite: 57.25/100
• National rank: #1091
• State rank: #28 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

• Census place: Wylie, TX
• County: Collin County · 1,159,394 people
• City population: 69,325
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 69,325
• Household income: $122,089
• Rent vs Own: 20.1% rent · 79.9% own
• Severe rent burden: 996.0

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 0.67)
• Race & ethnicity: White 51% Hispanic / Latino 19% Two or more races 15% Black 13% Asian 11%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Slovak 2% Lithuanian 2% Serbian 2%
• Foreign-born: 21% · Canada, Vietnam, China
• Languages at home: 70% English-only · Spanish 14% Other Indo-European 4% Vietnamese 2%

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: ▼ -84.91%
• Current HPI: 261.9973
• Rent YoY: ▼ -1.39%
• 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

1 event — show timeline

• 2026-06-03 Listed $260,000 NTREIS

Property tax history

+16.9%/yr

Latest (2025): $4,993 · -4.6% YoY. Source: county tax records.