6207 Chickney Dr

Princeton, TX 75071

$334,852D-

4 bd · 2.5 ba · 2,055 sqft · Built 2026 · SingleFamily · Pending · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,726/mo
• Mortgage (P&I): −$1,756
• Tax + insurance: −$558
• HOA: −$65
• Vac / Maint / Mgmt: −$572
• Net cashflow: $-226/mo
• Annual: $-2,707/yr
• Cap rate: 5.48%
• Cash-on-cash: -2.89%
• DSCR: 0.87
• 1% rule: 0.81%
• Cash to close: $93,759

Investor read

• This is a 4-bed/2.5-bath single-family listed at $335k. Condition is rated poor.
• At list price, monthly cash flow is $-226 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $302k (9.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $273k (18.6% below list).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $273k (18.6% below list) — sets the bar for 1% rule.
• 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.
• Location reads 62/100 on livability (#969 in TX) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A; Watch: amenities F, commute F, health & safety F.
• Mckinney ISD (suburban): math 54% / reading 58% proficiency, ranked #72 of 826 in TX (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Webb El (math 32% / reading 37%, grade F, #1,995 of 4,322 statewide, top 50%, 355 students, 68% FRL) — zoned schools average 68% FRL vs 28% district-wide (40 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 34% at this address vs 56% district-wide (-22 pts) — the specific schools serving this property underperform the Mckinney ISD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-2.1%/yr); 2125 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 12d 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).
• Collin County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 6→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.5% vs local median 4.5% in Princeton — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• 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?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — The roof appears to be missing shingles or has significant damage.
• Major: exterior siding — The exterior siding and foundation show signs of wear and tear.
• Major: flooring — The flooring appears to be worn and in need of replacement.
• Major: interior walls — The interior walls show signs of wear and potential water damage.
• Major: bathrooms — The bathrooms appear to be in poor condition.
• Major: kitchen — The kitchen appears to be in poor condition.