3405 Wells Dr · Plano, TX 75093

$329,900

3 bd · 2.0 ba · 1,701 sqft · MultiFamily public records · 206 Days on market

Built 1981 5,663 sqft lot $194/sqft · 20% below area Est $414k · 20% under

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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).

• ARV discount +15.0/15.0
• Cash flow +7.5/30.0
• Schools +4.9/10.0
• Livability +4.2/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• DSCR +1.6/10.0
• 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 MLS

This home may not be perfectly move-in ready, but if you don’t mind making a few upgrades (floors, blinds, doorknobs, and touch-up paint), this home may be for you. The price per square foot allows a great opportunity to create equity quickly. It is a well-maintained garden home In a great location (West Plano) and prestigious zip code (75093). This home is well maintained and requires low yard and lawn upkeep.

Key facts

• 5,663 sq ft lot
• 2 garage spots
• Built 1981

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $330k.

Deal economics

• At list price, monthly cash flow is $-411 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $257k (22.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $250k (24.2% below list).
• Recommended offer: $250k (24.2% below list) — sets the bar for 1% rule.
• Cap rate 4.8% vs local median 2.8% in Plano — 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 84/100 on livability (#8 in TX, #728 nationally) — a professional / high-income tenant draw. Strengths: schools A+, commute A+, employment A+; Watch: cost of living F.
• Plano ISD (urban): math 52% / reading 55% proficiency, ranked #90 of 826 in TX (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents soft (-2.5%/yr); 202 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 9d 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 $10k 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 206 days — a 12% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y ago; this cycle's ask has dropped $60k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $250,176 (24.2% 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. It's been on market 206 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
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. Schools are A-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?
6. 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?
7. 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.
8. 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.
9. 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: 0.76% ✗
• Cap rate: 4.80%
• Cash-on-cash: -5.33%
• DSCR: 0.76
• GRM: 11.0

CMA / ARV

• ARV (median comp): $413,645
• List price: $329,900
• Delta: -20.25%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -28.9%
• Equity multiple: 0.06×
• Total profit: $-86,831
• Equity at exit: $49,189

10-year hold

• IRR: -48.0%
• Equity multiple: -0.49×
• Total profit: $-137,191
• Equity at exit: $28,524

Cash invested: $92,372 (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 75093

• Home prices YoY: -32.0%
• Rents YoY: -2.5%
• Active inventory: 202
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,502 high
• Mortgage (P&I): −$1,730
• Tax from tax record: −$519 /mo · $6,233/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $-411

Break-even live

Break-even rent $3,021

Max offer price $257,383

Occupancy floor —

Sensitivity live

Price	-10% $-224	-5% $-317	+0% $-411	+5% $-504	+10% $-597
Rent	-10% $-608	-5% $-509	+0% $-411	+5% $-312	+10% $-213
Rate	-1.0pp $-244	-0.5pp $-327	base $-411	+0.5pp $-496	+1.0pp $-583

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: $82,475
• Closing costs: $9,897
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4115 San Mateo Dr Plano, TX	3.0	2.0	1743	$2,500	$1.43	0d	1	0.06mi
3916 San Mateo Dr Plano, TX	3.0	2.0	1688	$2,450	$1.45	21d	1	0.26mi
3902 San Mateo Dr Plano, TX	3.0	2.0	1500	$2,200	$1.47	0d	1	0.32mi
4316 Sahara Ln Plano, TX	4.0	2.0	2135	$2,899	$1.36	44d	1	0.57mi
3704 Saddlehead Dr Plano, TX	3.0	2.5	2100	$6,300	$3.00	11d	1	0.57mi
3808 Big Horn Trl Plano, TX	3.0	2.0	2101	$2,600	$1.24	8d	1	0.66mi
3800 Pebble Creek Ct Plano, TX	1.0–3.0	1.0–2.0	1025	$2,330	$2.27	2d	19	0.78mi
3941 Creek Crossing Dr Plano, TX	4.0	2.5	2004	$2,800	$1.40	19d	1	0.86mi
4701 Charles Pl Plano, TX	1.0–3.0	1.0–2.0	1140	$2,525	$2.21	0d	12	0.94mi
6301 Stonewood Dr Plano, TX	2.0	2.0	1083	$2,146	$1.98	44d	1	0.96mi
3318 Lanarc Dr Plano, TX	3.0	2.0	1710	$2,400	$1.40	18d	1	0.98mi
6301 Stonewood Dr Unit 3118 Plano, TX	3.0	2.0	1322	$2,329	$1.76	0d	1	0.98mi
6301 Stonewood Dr Unit 6334 Plano, TX	3.0	2.0	1458	$2,536	$1.74	44d	1	0.98mi
4701 Bear Run Dr Plano, TX	3.0	2.0	1451	$2,800	$1.93	25d	1	1.00mi
3801 W Spring Creek Pkwy Plano, TX	1.0–3.0	1.0–2.0	1100	$2,320	$2.11	0d	18	1.05mi
6000 Ohio Dr Plano, TX	1.0–2.0	1.0–2.0	941	$1,770	$1.88	0d	60	1.08mi
3700 Preston Rd Plano, TX	1.0–2.0	1.0–2.0	925	$1,986	$2.15	0d	6	1.11mi
4117 Lantern Light Dr Plano, TX	3.0	2.0	1647	$2,295	$1.39	44d	1	1.13mi
4633 Centenary Dr Plano, TX	3.0	2.5	2079	$2,850	$1.37	25d	1	1.15mi
4805 Bull Run Dr Plano, TX	4.0	2.0	2100	$2,900	$1.38	44d	1	1.15mi
4832 Bull Run Dr Plano, TX	3.0	2.0	1700	$2,650	$1.56	8d	1	1.18mi
4829 Bull Run Dr Plano, TX	3.0	2.0	2151	$2,850	$1.32	22d	1	1.20mi
6505 McCormick Ranch Ct Plano, TX	4.0	2.0	1891	$2,900	$1.53	0d	1	1.23mi
4588 Postbridge Dr Plano, TX	4.0	2.0	2223	$2,795	$1.26	8d	1	1.23mi
3626 Hilltop Ln Plano, TX	2.0	2.0	1230	$1,895	$1.54	8d	1	1.24mi
3736 Solarium Pl Plano, TX	4.0	2.0	2217	$3,500	$1.58	11d	1	1.26mi
6516 McCormick Ranch Ct Plano, TX	3.0	2.0	1558	$2,400	$1.54	44d	1	1.27mi
2821 Townbluff Dr Plano, TX	1.0–2.0	1.0–2.0	950	$2,101	$2.21	0d	12	1.29mi
2501 Ohio Dr Unit 532 Plano, TX	2.0	2.0	1200	$1,680	$1.40	22d	1	1.29mi
4700 W Spring Creek Pkwy Plano, TX	1.0–3.0	1.0–3.5	1591	$3,799	$2.39	0d	27	1.30mi
4610 W Spring Creek Pkwy Unit 54166 Plano, TX	2.0	2.0	1284	$2,050	$1.60	6d	1	1.30mi
4610 W Spring Creek Pkwy Unit 10052 Plano, TX	2.0	2.0	1177	$1,724	$1.46	6d	1	1.30mi
2501 Ohio Dr Unit 612 Plano, TX	3.0	2.0	1200	$2,429	$2.02	0d	1	1.31mi
4417 Boston Dr Plano, TX	3.0	2.0	2026	$2,650	$1.31	14d	1	1.31mi
2501 Ohio Dr Apt 821 Plano, TX	3.0	2.0	1200	$2,000	$1.67	3d	1	1.31mi
2501 Ohio Dr Unit 2534 Plano, TX	3.0	2.0	1200	$2,434	$2.03	44d	1	1.31mi
6400 Ohio Dr Plano, TX	1.0–2.0	1.0–2.0	859	$1,949	$2.27	2d	14	1.35mi
2601 Preston Rd #5207 Plano, TX	2.0	2.0	1246	$2,250	$1.81	2d	1	1.36mi
2601 Preston Rd #5205 Plano, TX	2.0	2.0	1161	$1,850	$1.59	45d	1	1.36mi
2401 Ohio Dr Plano, TX	1.0–2.0	1.0–2.0	856	$1,664	$1.94	0d	8	1.36mi

Listing history 12 events

1. 2026-05-20
   historical Active Option Contract 420-char remark

   Show marketing remark (420 chars)

   This home may not be perfectly move-in ready, but if you don’t mind making a few upgrades (floors, blinds, doorknobs, and touch-up paint), this home may be for you. The price per square foot allows a great opportunity to create equity quickly. It is a well-maintained garden home In a great location (West Plano) and prestigious zip code (75093). This home is well maintained and requires low yard and lawn upkeep.

2. 2026-05-15
   status Active 420-char remark

   Show marketing remark (420 chars)

   This home may not be perfectly move-in ready, but if you don’t mind making a few upgrades (floors, blinds, doorknobs, and touch-up paint), this home may be for you. The price per square foot allows a great opportunity to create equity quickly. It is a well-maintained garden home In a great location (West Plano) and prestigious zip code (75093). This home is well maintained and requires low yard and lawn upkeep.

3. 2026-05-07
   historical Active Option Contract 420-char remark

   Show marketing remark (420 chars)

   This home may not be perfectly move-in ready, but if you don’t mind making a few upgrades (floors, blinds, doorknobs, and touch-up paint), this home may be for you. The price per square foot allows a great opportunity to create equity quickly. It is a well-maintained garden home In a great location (West Plano) and prestigious zip code (75093). This home is well maintained and requires low yard and lawn upkeep.

4. 2026-05-07
   status Active 420-char remark

   Show marketing remark (420 chars)

   This home may not be perfectly move-in ready, but if you don’t mind making a few upgrades (floors, blinds, doorknobs, and touch-up paint), this home may be for you. The price per square foot allows a great opportunity to create equity quickly. It is a well-maintained garden home In a great location (West Plano) and prestigious zip code (75093). This home is well maintained and requires low yard and lawn upkeep.

5. 2026-04-13
   status Active 420-char remark

   Show marketing remark (420 chars)

   This home may not be perfectly move-in ready, but if you don’t mind making a few upgrades (floors, blinds, doorknobs, and touch-up paint), this home may be for you. The price per square foot allows a great opportunity to create equity quickly. It is a well-maintained garden home In a great location (West Plano) and prestigious zip code (75093). This home is well maintained and requires low yard and lawn upkeep.

6. 2026-02-23
   price $329,900 420-char remark

   Show marketing remark (420 chars)

   This home may not be perfectly move-in ready, but if you don’t mind making a few upgrades (floors, blinds, doorknobs, and touch-up paint), this home may be for you. The price per square foot allows a great opportunity to create equity quickly. It is a well-maintained garden home In a great location (West Plano) and prestigious zip code (75093). This home is well maintained and requires low yard and lawn upkeep.

7. 2025-10-14
   listed $389,900 Active 420-char remark

   Show marketing remark (420 chars)

   This home may not be perfectly move-in ready, but if you don’t mind making a few upgrades (floors, blinds, doorknobs, and touch-up paint), this home may be for you. The price per square foot allows a great opportunity to create equity quickly. It is a well-maintained garden home In a great location (West Plano) and prestigious zip code (75093). This home is well maintained and requires low yard and lawn upkeep.

8. 2024-09-30
   price $377,900
9. 2024-09-05
   price $382,900
10. 2024-08-08
    listed $387,900 Active
11. 2023-12-31
    historical $1,950
12. 2023-12-22
    listed $1,950

ⓘ 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: $6,233 · $519/mo
• Projected year-2 tax: $6,233 · $519/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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,021
• − Mortgage interest: −$18,480
• − Property taxes: −$6,233
• − Insurance: −$1,650
• − Repairs & maintenance: −$2,402
• − Management: −$2,402
• − Depreciation: −$9,597
• Taxable loss: −$10,741
• Est. tax savings @ 24.0%: +$2,578
• After-tax cash flow: $-2,348/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: Plano ISD
• NCES district ID: 4835100
• Math proficiency: 52% ▼ -13.00%
• Reading proficiency: 55% ▼ -8.00%
• Median HH income: $79,861
• Composite: 48.54/100
• National rank: #2115
• State rank: #90 of 826 in TX

Livability — Plano

• Score: 84/100
• State rank: #8
• US rank: #728

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Plano, TX
• County: Collin County · 1,159,394 people
• City population: 288,003
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 47,954
• Household income: $124,563
• Rent vs Own: 40.9% rent · 59.1% own
• Severe rent burden: 1526.0

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 0.61)
• Race & ethnicity: White 58% Asian 18% Hispanic / Latino 11% Two or more races 9% Black 7%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2%
• Common ancestry: Slovak 3% Romanian 3% Lithuanian 3%
• Foreign-born: 26% · Canada, China, South Korea
• Languages at home: 68% English-only · Other Indo-European 8% Spanish 8% Chinese 6%

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: ▼ -119.36%
• Current HPI: 253.516
• Rent YoY: ▼ -2.50%
• 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

+16817.9% since first listed

12 events — show timeline

• 2026-05-20 Contingent — NTREIS
• 2026-05-15 Relisted — NTREIS
• 2026-05-07 Contingent — NTREIS
• 2026-05-07 Relisted — NTREIS
• 2026-04-13 Relisted — NTREIS
• 2026-02-23 Price Changed $329,900 NTREIS
• 2025-10-14 Listed $389,900 NTREIS
• 2024-09-30 Price Changed $377,900 NTREIS
• 2024-09-05 Price Changed $382,900 NTREIS
• 2024-08-08 Listed $387,900 NTREIS
• 2023-12-31 Rental Removed $1,950 RENTLY
• 2023-12-22 Listed for Rent $1,950 RENTLY

Property tax history

+5.3%/yr

Latest (2025): $6,233 · +8.2% YoY. Source: county tax records.