Wexford Plan · Allen, TX 75013

$228,660

2 bd · 2.0 ba · 1,499 sqft · Condo · 277 Days on market

Poor condition

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Why this score? — see what drove the F 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 +7.5/15.0
• Schools +5.8/10.0
• Livability +4.0/5.0
• Rent growth +1.8/5.0
• Condition / age +1.0/5.0
• 1% rule +0.3/10.0
• Cash flow +0.0/30.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Regarded as one of the most desirable suburbs in the United States, Allen is absolutely one of the best places to live in Texas. With its dense suburban feel and numerous amenities, it's simply a great place to call home. And it is now open and home to our newest Village Cooperative and we are thrilled to bring this hassle-free home ownership option to active adults (62+) in the area! That's because the Village Cooperative of Allen offers a worry-free lifestyle to its member-owners. This housing option is built specifically for those who want to own their home but also want to work or retire without the headaches of maintenance, repairs and surprise bills that are associated with owning a house. Plus, you'll find the amenities, social opportunities and financial benefits just a few advantages of cooperative living.

Key facts

• 2 garage spots
• Listed 277 days

🏢 Co-op / cooperative unit. The $228,660 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $229k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $-3k ($-41k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $216k (5.6% below list).
• Recommended offer: $201k (12.0% below list) — sets the bar for market timing.
• Cap rate -3.8% vs local median 2.6% in Allen — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 80/100 on livability (#34 in TX, #1,678 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: cost of living C-, commute F.
• Allen ISD (suburban): math 64% / reading 63% proficiency, ranked #22 of 826 in TX (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: Rents soft (-3.0%/yr); 374 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 19,194 units permitted in Collin County in 2024 (3,988 in 5+ unit buildings).
• This rent is only 18% of the median local income ($147k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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 277 days — a 12% lower offer ($201k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; HOA is 107% of rent.

Recommended offer $201,220 (12.0% 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 277 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.53% ✗
• Cap rate: -3.75%
• Cash-on-cash: -35.88%
• DSCR: -0.60
• GRM: 15.9

CMA / ARV

• ARV (median comp): $411,095
• List price: $228,660
• Delta: -44.38%
• 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: —
• Equity multiple: -1.53×
• Total profit: $-290,684
• Equity at exit: $61,296

10-year hold

• IRR: —
• Equity multiple: -3.81×
• Total profit: $-553,928
• Equity at exit: $35,544

Cash invested: $115,107 (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 75013

• Home prices YoY: -23.4%
• Rents YoY: -3.0%
• Active inventory: 374
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,159 high
• Mortgage (P&I): −$2,156
• Tax est. 1.5%: −$514 /mo · $6,166/yr
• Insurance: −$171
• HOA est. from 1 same-building comp: −$2,306
• Vacancy / Maint / Mgmt: −$453
• Net cashflow: $-3,442

Break-even live

Break-even rent $6,515

Max offer price —

Occupancy floor —

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: $102,774
• Closing costs: $12,333
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1006 Stockton Dr Allen, TX	3.0	2.5	1859	$2,800	$1.51	24d	1	0.12mi
1226 Junction Dr Allen, TX	3.0	3.0	1859	$2,799	$1.51	43d	1	0.23mi
1226 Junction Dr Allen, TX	3.0	3.0	1840	$2,799	$1.52	24d	1	0.23mi
979 Emil Pl Allen, TX	2.0	2.5	1467	$2,350	$1.60	24d	1	0.50mi
1301 Bray Central Allen, TX	2.0	2.0	1038	$1,380	$1.33	43d	1	0.63mi
860 Junction Dr Allen, TX	1.0–2.0	1.0–2.0	1007	$3,023	$3.00	7d	21	0.71mi
1090 W Exchange Pkwy Allen, TX	1.0–2.0	1.0–2.0	971	$2,125	$2.19	2d	60	0.71mi
875 Merino Dr Allen, TX	3.0	2.5	1839	$2,650	$1.44	43d	1	0.72mi
1946 Sweetwater Ln Allen, TX	3.0	2.5	1810	$2,695	$1.49	19d	1	0.77mi
1845 Chelsea Blvd Allen, TX	1.0–2.0	1.0–2.0	875	$1,835	$2.10	2d	17	0.78mi
1089 W Exchange Pkwy Allen, TX	1.0–3.0	1.0–2.0	1011	$1,728	$1.71	1d	21	0.80mi
729 Junction Dr Allen, TX	1.0–3.0	1.0–2.0	1100	$1,992	$1.81	1d	19	0.88mi
705 Bray Central Dr Allen, TX	1.0–3.0	1.0–2.0	1050	$1,676	$1.60	2d	1	0.89mi
1096 W Exchange Pkwy Allen, TX	2.0	2.0	1104	$1,745	$1.58	43d	1	0.92mi
1095 W Exchange Pkwy Allen, TX	2.0	2.0	1125	$1,720	$1.53	43d	1	0.95mi
403 Daisy Dr Allen, TX	3.0	2.0	1647	$2,200	$1.34	43d	1	0.97mi
403 Daisy Dr Allen, TX	3.0	2.0	1647	$2,090	$1.27	19d	1	0.97mi
505 Benton Dr Unit 3121 Allen, TX	3.0	2.0	1262	$2,175	$1.72	3d	1	1.00mi
505 Benton Dr Unit 528 Allen, TX	2.0	2.0	963	$1,625	$1.69	13d	1	1.00mi
505 Benton Dr Unit 562 Allen, TX	2.0	2.0	963	$1,530	$1.59	3d	1	1.00mi
505 Benton Dr Unit 542 Allen, TX	2.0	2.0	963	$1,668	$1.73	43d	1	1.00mi
505 Benton Dr Unit 538 Allen, TX	3.0	2.0	1262	$2,251	$1.78	16d	1	1.00mi
505 Benton Dr Unit 2121 Allen, TX	2.0	2.0	963	$1,630	$1.69	15d	1	1.00mi
659 Junction Dr Allen, TX	1.0–2.0	1.0–2.0	963	$1,900	$1.97	2d	37	1.01mi
1400 Andrews Pkwy Unit 1437 Allen, TX	2.0	2.0	1073	$2,036	$1.90	11d	1	1.06mi
1400 Andrews Pkwy Unit 3121 Allen, TX	3.0	2.0	1364	$2,616	$1.92	3d	1	1.06mi
1400 Andrews Pkwy Unit 2121 Allen, TX	2.0	2.0	1073	$2,004	$1.87	3d	1	1.06mi
1400 Andrews Pkwy Unit 1433 Allen, TX	3.0	2.0	1364	$2,659	$1.95	5d	1	1.06mi
1951 Painted Trail Dr Allen, TX	2.0–3.0	2.0–3.5	1759	$2,915	$1.66	2d	82	1.13mi
511 Benton Dr Allen, TX	3.0	2.0	1262	$1,836	$1.45	43d	1	1.14mi
1038 Audrey Way Allen, TX	3.0	2.5	1855	$2,750	$1.48	24d	1	1.18mi
505 E Exchange Pkwy Apt 8303 Allen, TX	2.0	2.0	1136	$1,909	$1.68	43d	1	1.21mi
505 E Exchange Pkwy Unit 538 Allen, TX	3.0	2.0	1298	$1,835	$1.41	43d	1	1.22mi
505 E Exchange Pkwy Unit 2118 Allen, TX	2.0	2.0	952	$1,370	$1.44	15d	1	1.22mi
505 E Exchange Pkwy Unit 3118 Allen, TX	3.0	2.0	1298	$2,386	$1.84	3d	1	1.22mi
505 E Exchange Pkwy Apt 8210 Allen, TX	2.0	2.0	1136	$1,904	$1.68	43d	1	1.22mi
505 E Exchange Pkwy Apt 4102 Allen, TX	2.0	1.0	952	$1,649	$1.73	43d	1	1.22mi
505 E Exchange Pkwy Apt 4312 Allen, TX	2.0	1.0	952	$1,639	$1.72	43d	1	1.22mi
505 E Exchange Pkwy Unit 528 Allen, TX	2.0	2.0	1074	$1,741	$1.62	3d	1	1.22mi
505 E Exchange Pkwy Unit 562 Allen, TX	2.0	2.0	952	$1,365	$1.43	43d	1	1.22mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-18
   days on market $228,660 Active 277 DOM
2. 2026-06-17
   days on market $228,660 Active 276 DOM
3. 2026-06-16
   days on market $228,660 Active 275 DOM
4. 2026-06-15
   days on market $228,660 Active 274 DOM
5. 2026-06-13
   days on market $228,660 Active 272 DOM
6. 2026-06-13
   days on market $228,660 Active 271 DOM
7. 2026-06-09
   days on market $228,660 Active 268 DOM
8. 2026-06-08
   days on market $228,660 Active 267 DOM
9. 2026-06-07
   days on market $228,660 Active 266 DOM
10. 2026-06-04
    days on market $228,660 Active 263 DOM
11. 2026-06-03
    days on market $228,660 Active 262 DOM
12. 2026-06-02
    days on market $228,660 Active 261 DOM
13. 2026-06-01
    days on market $228,660 Active 260 DOM
14. 2026-05-31
    days on market $228,660 Active 259 DOM
15. 2025-09-14
    listed $228,660 Active 827-char remark

    Show marketing remark (827 chars)

    Regarded as one of the most desirable suburbs in the United States, Allen is absolutely one of the best places to live in Texas. With its dense suburban feel and numerous amenities, it's simply a great place to call home. And it is now open and home to our newest Village Cooperative and we are thrilled to bring this hassle-free home ownership option to active adults (62+) in the area! That's because the Village Cooperative of Allen offers a worry-free lifestyle to its member-owners. This housing option is built specifically for those who want to own their home but also want to work or retire without the headaches of maintenance, repairs and surprise bills that are associated with owning a house. Plus, you'll find the amenities, social opportunities and financial benefits just a few advantages of cooperative living.

ⓘ 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: $25,906
• − Mortgage interest: −$23,028
• − Property taxes: −$6,166
• − Insurance: −$2,055
• − Repairs & maintenance: −$2,072
• − Management: −$2,072
• − HOA: −$27,672
• − Depreciation: −$11,959
• Taxable loss: −$49,120
• Est. tax savings @ 24.0%: +$11,789
• After-tax cash flow: $-29,509/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 · 2 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and maintenance, including a new roof, exterior siding, flooring, and painting. Significant improvements are needed to bring the home up to market standards and increase its value.

Repairs flagged

• Major roof — Exposed areas and uneven terrain suggest significant damage requiring full replacement.
• Major exterior siding — Visible discoloration and damage indicate a need for full replacement or repair.
• Major flooring — Worn and in need of replacement, likely due to age and lack of maintenance.
• Major interior walls — Signs of wear and discoloration suggest a need for repainting or repair.

Value-add opportunities

• Resale roof replacement — A new roof will significantly improve the home's appearance and increase its market value.
• Resale exterior siding repair/replacement — Aesthetic improvements to the exterior will enhance the home's curb appeal and resale value.
• Resale flooring replacement — New flooring will improve the home's appearance and increase its market value.
• Resale painting — Repainting interior walls will improve the home's appearance and increase its market value.
• Both HVAC system repair/upgrade — A functional HVAC system is essential for comfort and will improve both resale and rental value.
• Both landscaping — Well-maintained landscaping will enhance the home's curb appeal and increase its rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Exposed areas and uneven terrain suggest significant damage requiring full replacement.	Major	$15,000–50,000
exterior siding · Visible discoloration and damage indicate a need for full replacement or repair.	Major	$15,000–50,000
flooring · Worn and in need of replacement, likely due to age and lack of maintenance.	Major	$15,000–50,000
interior walls · Signs of wear and discoloration suggest a need for repainting or repair.	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Resale roof replacement — A new roof will significantly improve the home's appearance and increase its market value. ↑
• Resale exterior siding repair/replacement — Aesthetic improvements to the exterior will enhance the home's curb appeal and resale value. ↑
• Resale flooring replacement — New flooring will improve the home's appearance and increase its market value. ↑
• Resale painting — Repainting interior walls will improve the home's appearance and increase its market value. ↑
• Both HVAC system repair/upgrade — A functional HVAC system is essential for comfort and will improve both resale and rental value. ↑
• Both landscaping — Well-maintained landscaping will enhance the home's curb appeal and increase its rental value. ↑

ⓘ 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: Allen ISD
• NCES district ID: 4807890
• Math proficiency: 64% ▼ -12.00%
• Reading proficiency: 63% ▼ -9.00%
• Median HH income: $96,635
• Composite: 58.45/100
• National rank: #1004
• State rank: #22 of 826 in TX

Livability — Allen

• Score: 80/100
• State rank: #34
• US rank: #1678

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Allen, TX
• County: Collin County · 1,159,394 people
• City population: 124,853
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 49,796
• Household income: $146,891
• Rent vs Own: 36.4% rent · 63.6% own
• Severe rent burden: 1574.0

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 0.65)
• Race & ethnicity: White 50% Asian 30% Hispanic / Latino 10% Two or more races 8% Black 6%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 2% Lithuanian 2% Slovak 2%
• Foreign-born: 26% · China, Canada, South Korea
• Languages at home: 65% English-only · Other Indo-European 8% Chinese 7% Spanish 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: ▼ -68.74%
• Current HPI: 225.417
• Rent YoY: ▼ -2.97%
• 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

• 2025-09-14 Listed $228,660 Zillow