1015 Bishop Creek Dr · Wylie, TX 75407

$129,174

1 bd · 2.0 ba · 661 sqft · SingleFamily · 3 Days on market

Built 2025 Excellent condition 4,008 sqft lot Est $158k · 18% under $41/mo HOA · 3% of rent ↓ 18% since listing

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Why this score? — see what drove the C+ 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 +19.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.1/10.0
• 1% rule +5.6/10.0
• Condition / age +4.8/5.0
• Schools +4.2/10.0
• Livability +3.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

LENNAR - The Alcove at Tillage Farms - The Dream Collection brings new single-family homes to the Tillage Farms masterplan in Princeton, TX. The community features fantastic onsite amenities, including a relaxing swimming pool, basketball court and more, and residents receive a Battery Backup included with Base Power REP election upon selection. This charming Dallas suburb boasts proximity to major roadways and thoroughfares, helping to simplify everyday travel and commutes. Homeowners will enjoy convenient access to the best of local shopping and dining in either downtown McKinney or at the Allen Outlets. Prices and features may vary and are subject to change. Photos are for illustrative p

Key facts

• Swimming pool
• Basketball court
• Battery backup

Tags

• SWIMMING POOL
• BASKETBALL COURT
• BATTERY BACKUP
• LOCAL SHOPPING
• LOCAL DINING
• PROXIMITY TO MAJOR ROADWAYS

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath single-family listed at $129k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $145 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $129k).
• Cap rate 7.6% 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; 1 comparable units currently listed for rent nearby; solid renter incomes; 19,194 units permitted in Collin County in 2024 (3,988 in 5+ unit buildings).
• This rent is only 16% of the median local income ($100k/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 $894 of loan paydown is wiped out by about $4k 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Recommended offer $129,174

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. 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.
5. 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.
6. 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: 1.06% ✓
• Cap rate: 7.64%
• Cash-on-cash: 4.80%
• DSCR: 1.21
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $157,979
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1023 Bishop Creek Dr	0.00mi	1/2.0	661 (0%)	2mo	$139,500	$211	98
1002 Robin Hill Ln	0.04mi	1/2.0	661 (0%)	2mo	$174,264	$264	96
1019 Bishop Creek Dr	0.00mi	1/2.0	661 (0%)	6mo	$155,674	$236	95
1017 Bishop Creek Dr	0.00mi	1/2.0	661 (0%)	6mo	$157,674	$239	95
1008 Robin Hill Ln	0.03mi	1/2.0	661 (0%)	4mo	$151,674	$229	95
1011 Bishop Creek Dr	0.02mi	1/2.0	661 (0%)	6mo	$149,124	$226	94
1013 Bishop Creek Dr	0.00mi	1/2.0	661 (0%)	8mo	$157,884	$239	94
1009 Bishop Creek Dr	0.02mi	1/2.0	661 (0%)	7mo	$156,674	$237	93
1007 Bishop Creek Dr	0.03mi	1/2.0	661 (0%)	7mo	$163,499	$247	93
1010 Robin Hill Ln	0.03mi	1/2.0	661 (0%)	8mo	$149,149	$226	92
1005 Bishop Creek Dr	0.03mi	1/2.0	661 (0%)	8mo	$168,674	$255	92
1004 Robin Hill Ln	0.04mi	1/2.0	661 (0%)	9mo	$170,999	$259	90

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: -12.4%
• Equity multiple: 0.57×
• Total profit: $-15,669
• Equity at exit: $19,260

10-year hold

• IRR: -8.8%
• Equity multiple: 0.53×
• Total profit: $-17,050
• Equity at exit: $11,169

Cash invested: $36,169 (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: 7.9×

Monthly cashflow live

• Estimated rent: $1,365 medium
• Mortgage (P&I): −$677
• Tax est. 1.5%: −$161 /mo · $1,938/yr
• Insurance: −$54
• HOA: −$41
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $145

Break-even live

Break-even rent $1,182

Max offer price $129,174

Occupancy floor 84%

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: $32,294
• Closing costs: $3,875
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1002 Robin Hill LN Princeton, TX	1.0	2.0	661	$1,300	$1.97	43d	1	0.06mi

HOA detail

• Monthly dues: $41 · $492/yr
• Likely covers: pool

Listing history 5 events

1. 2026-04-26
   status Pending
2. 2026-04-23
   listed $129,174 Active
3. 2026-03-31
   historical
4. 2026-02-06
   price $149,674
5. 2026-01-07
   listed $157,674 Active

ⓘ 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: $16,381
• − Mortgage interest: −$7,236
• − Property taxes: −$1,938
• − Insurance: −$646
• − Repairs & maintenance: −$1,310
• − Management: −$1,310
• − HOA: −$492
• − Depreciation: −$3,758
• Taxable loss: −$309
• Est. tax savings @ 24.0%: +$74
• After-tax cash flow: $1,811/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 · 1 photo

Excellent 95/100 None rehab

This single-family home is in excellent condition with no visible repairs or maintenance needed. It offers a good return on investment with potential for both resale and rental value through minor updates and improvements.

Value-add opportunities

• Both Painting the exterior and interior — Fresh paint enhances curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhanced landscaping can increase both resale and rental value.
• Resale Upgrading the kitchen appliances — Modern appliances can attract more buyers and renters.
• Both Upgrading the HVAC system — A new HVAC system can improve comfort and energy efficiency, benefiting both resale and rental value.
• Both Adding smart home features — Smart home features can increase the home's appeal and marketability, benefiting both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can increase both resale and rental value. ↑
• Resale Upgrading the kitchen appliances — Modern appliances can attract more buyers and renters. ↑
• Both Upgrading the HVAC system — A new HVAC system can improve comfort and energy efficiency, benefiting both resale and rental value. ↑
• Both Adding smart home features — Smart home features can increase the home's appeal and marketability, benefiting both resale and 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: 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

-18.1% since first listed

5 events — show timeline

• 2026-04-26 Pending — NTREIS
• 2026-04-23 Listed $129,174 NTREIS
• 2026-03-31 Listing Removed — NTREIS
• 2026-02-06 Price Changed $149,674 NTREIS
• 2026-01-07 Listed $157,674 NTREIS