11243 County Road 897 · Wylie, TX 75407

$138,000

1 bd · 1.0 ba · 672 sqft · SingleFamily public records · 73 Days on market

Built 1955 10,454 sqft lot $205/sqft · 37% below area Est $221k · 37% under ↓ 7% 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 +22.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +4.9/10.0
• Schools +4.2/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

LOWER PRICE!!! Investment Opportunity & Weekend Retreat Near Lake Lavon in Princeton, TX Don't miss your chance to own a piece of the Lake Lavon lifestyle in one of North Texas's fastest-growing communities! This charming 2 bedroom, 1 bath cottage sits on a fully fenced .244-acre lot on a quiet Princeton street, offering incredible potential at an investor friendly price point. At 672 sq ft, this cozy lake home is the perfect canvas for your vision, whether you're planning a weekend getaway, a fix-and-flip project, or a buy-and-hold rental. The possibilities are wide open. Princeton's explosive growth means now is the time to get in value and opportunity like this won't last long. Sold as is. No survey provided.

Key facts

• Quiet street
• Incredible potential
• Fully fenced lot

Tags

• FULLY FENCED LOT
• QUIET STREET
• INCREDIBLE POTENTIAL

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $138k.

Deal economics

• At list price, monthly cash flow is $235 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $137k (1.1% below list).
• Recommended offer: $130k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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.
• Market conditions: Rents soft (-1.0%/yr); 1409 active listings in the ZIP; 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 $954 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

• It's been on market 73 days — a 6% lower offer ($130k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $129,719 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
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 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: 0.99% ✗
• Cap rate: 8.34%
• Cash-on-cash: 7.30%
• DSCR: 1.32
• GRM: 8.4

CMA / ARV

• ARV (median comp): $220,778
• List price: $138,000
• Delta: -37.49%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -8.3%
• Equity multiple: 0.70×
• Total profit: $-11,443
• Equity at exit: $20,576

10-year hold

• IRR: -2.8%
• Equity multiple: 0.84×
• Total profit: $-6,346
• Equity at exit: $11,932

Cash invested: $38,640 (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: 1409
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,365 medium
• Mortgage (P&I): −$724
• Tax from tax record: −$62 /mo · $749/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $235

Break-even live

Break-even rent $1,068

Max offer price $138,000

Occupancy floor 78%

Sensitivity live

Price	-10% $313	-5% $274	+0% $235	+5% $196	+10% $157
Rent	-10% $127	-5% $181	+0% $235	+5% $289	+10% $343
Rate	-1.0pp $304	-0.5pp $270	base $235	+0.5pp $199	+1.0pp $163

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: $34,500
• Closing costs: $4,140
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $138,000 Active 73 DOM
2. 2026-06-18
   days on market $138,000 Active 70 DOM
3. 2026-06-17
   days on market $138,000 Active 69 DOM
4. 2026-06-16
   days on market $138,000 Active 68 DOM
5. 2026-06-15
   days on market $138,000 Active 67 DOM
6. 2026-06-13
   days on market $138,000 Active 65 DOM
7. 2026-06-13
   days on market $138,000 Active 64 DOM
8. 2026-06-09
   days on market $138,000 Active 61 DOM
9. 2026-06-08
   days on market $138,000 Active 60 DOM
10. 2026-06-07
    days on market $138,000 Active 59 DOM
11. 2026-06-04
    days on market $138,000 Active 56 DOM
12. 2026-06-03
    days on market $138,000 Active 55 DOM
13. 2026-06-02
    days on market $138,000 Active 54 DOM
14. 2026-06-01
    days on market $138,000 Active 53 DOM
15. 2026-05-31
    days on market $138,000 Active 52 DOM
16. 2026-04-27
    price $138,000 733-char remark

    Show marketing remark (733 chars)

    LOWER PRICE!!! Investment Opportunity & Weekend Retreat Near Lake Lavon in Princeton, TX Don't miss your chance to own a piece of the Lake Lavon lifestyle in one of North Texas's fastest-growing communities! This charming 2 bedroom, 1 bath cottage sits on a fully fenced .244-acre lot on a quiet Princeton street, offering incredible potential at an investor friendly price point. At 672 sq ft, this cozy lake home is the perfect canvas for your vision, whether you're planning a weekend getaway, a fix-and-flip project, or a buy-and-hold rental. The possibilities are wide open. Princeton's explosive growth means now is the time to get in value and opportunity like this won't last long. Sold as is. No survey provided.

17. 2026-04-09
    listed $148,000 Active 733-char remark

    Show marketing remark (733 chars)

    LOWER PRICE!!! Investment Opportunity & Weekend Retreat Near Lake Lavon in Princeton, TX Don't miss your chance to own a piece of the Lake Lavon lifestyle in one of North Texas's fastest-growing communities! This charming 2 bedroom, 1 bath cottage sits on a fully fenced .244-acre lot on a quiet Princeton street, offering incredible potential at an investor friendly price point. At 672 sq ft, this cozy lake home is the perfect canvas for your vision, whether you're planning a weekend getaway, a fix-and-flip project, or a buy-and-hold rental. The possibilities are wide open. Princeton's explosive growth means now is the time to get in value and opportunity like this won't last long. Sold as is. No survey provided.

18. 2023-01-13
    soldstatus
19. 2011-01-13
    soldstatus

ⓘ 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: $749 · $62/mo
• Projected year-2 tax: $2,525 · $210/mo
• Expected delta: +$1,776/yr (+$148/mo · 237.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥111°F today · 24 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,384
• − Mortgage interest: −$7,730
• − Property taxes: −$749
• − Insurance: −$690
• − Repairs & maintenance: −$1,311
• − Management: −$1,311
• − Depreciation: −$4,015
• Taxable income: $579
• Est. tax owed @ 24.0%: −$139
• After-tax cash flow: $2,681/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: 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

-6.8% since first listed

4 events — show timeline

• 2026-04-27 Price Changed $138,000 NTREIS
• 2026-04-09 Listed $148,000 NTREIS
• 2023-01-13 Sold (Public Records) — Public Records
• 2011-01-13 Sold (Public Records) — Public Records

Property tax history

+6.5%/yr

Latest (2025): $749 · +6.4% YoY. Source: county tax records.