6232 Sandpiper Ln · Wylie, TX 75407

$199,999

4 bd · 2.5 ba · 1,535 sqft · SingleFamily · 4 Days on market

Built 2026 4,008 sqft lot Est $244k · 18% under $41/mo HOA · 2% of rent

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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 +17.9/30.0
• ARV discount +15.0/15.0
• DSCR +5.6/10.0
• 1% rule +5.1/10.0
• 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

$29,000 OFF – MOTHERS DAY SPECIAL! LENNAR - Tillage Farms - Cibola Floorplan - The first floor of this two-story home is host to a spacious open floorplan that seamlessly connects an inviting family room, elegant dining room and chef-inspired kitchen. Upstairs, there are three bedrooms, including the luxe owner’s suite, which features a restful bedroom, en-suite bathroom and generous walk-in closet. Prices and features may vary and are subject to change. Photos are for illustrative purposes only.

Key facts

• 4,008 sq ft lot
• Garage
• Built 2026

Property features AI

Finance

• Other: Property located in The Haven at Tillage Farms subdivision; Selling from Tillage Farms model home
• Financial info: Seller will consider cash, conventional, USDA loan, or VA loan
• HOA & community: Mandatory association with PMP Management; Annual HOA fee (includes full use of facilities, grounds maintenance, management fees)

Exterior

• Parking: Attached garage (garage faces front); 1 covered garage space
• Security: Smoke detector(s); Carbon monoxide detector(s); Fire alarm
• Utilities: MUD water and MUD sewer; Municipal utility district; Concrete and sidewalk infrastructure
• Home design: Single family residence; Two levels; Residential property (new construction - incomplete, year built 2026); Not attached to other properties
• Construction: Fiber cement siding; Composition roof; Slab foundation
• Exterior features: Covered porch(es); Wood fencing; Landscaped yard; Sprinkler system; Concrete curbs and sidewalks

Interior

• Kitchen: Natural stone/granite countertops; Pantry / walk-in pantry; Dishwasher; Disposal; Electric range; Microwave
• Bedrooms: 4 bedrooms (primary bedroom on second level with walk-in closet)
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (electric, ENERGY STAR qualified equipment); Central air conditioning (electric); Thermostat (energy-efficient)
• Interior features: Open floorplan; Built-in features; Decorative lighting; Cable TV available; High-speed internet available; Pantry; Walk-in closet(s)
• Laundry & utility: Mechanical fresh air; Enhanced air filtration; Water heater (energy-efficient features noted)

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $169 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Cap rate 7.3% 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.
• 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $1k of loan paydown is wiped out by about $6k 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 4 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $199,999

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: 1.01% ✓
• Cap rate: 7.31%
• Cash-on-cash: 3.62%
• DSCR: 1.16
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $244,065
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6314 Sandpiper Ln	0.05mi	4/2.5	1,535 (0%)	0mo	$207,999	$136	98
810 Wagtail Dr	0.12mi	4/2.5	1,535 (0%)	1mo	$238,369	$155	93
6100 Pinion Trl	0.22mi	4/2.5	1,549 (+1%)	1mo	$237,490	$153	87
6308 Sandpiper Ln	0.03mi	3/2.5 (-1)	1,360 (-11%)	1mo	$217,999	$160	74
724 Wagtail Dr	0.07mi	3/2.5 (-1)	1,360 (-11%)	1mo	$195,999	$144	72
6110 Pinion Trl	0.22mi	3/2.5 (-1)	1,419 (-8%)	1mo	$229,990	$162	71
6412 Longspur Ln	0.25mi	3/2.0 (-1)	1,402 (-9%)	0mo	$222,999	$159	67
6413 Longspur Ln	0.27mi	3/2.0 (-1)	1,411 (-8%)	1mo	$215,000	$152	66
6508 Glade St	0.27mi	3/2.0 (-1)	1,402 (-9%)	1mo	$222,999	$159	65
416 Sandhill Crane Ln	0.29mi	3/2.0 (-1)	1,402 (-9%)	0mo	$221,999	$158	65
6414 Willet Rd	0.30mi	3/2.0 (-1)	1,402 (-9%)	1mo	$252,999	$180	64
403 Shearwater Ave	0.36mi	3/2.0 (-1)	1,402 (-9%)	1mo	$253,674	$181	60

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: -14.1%
• Equity multiple: 0.51×
• Total profit: $-27,488
• Equity at exit: $29,821

10-year hold

• IRR: -11.3%
• Equity multiple: 0.42×
• Total profit: $-32,667
• Equity at exit: $17,292

Cash invested: $56,000 (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: 8.3×

Monthly cashflow live

• Estimated rent: $2,016 high
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$41
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $169

Break-even live

Break-even rent $1,801

Max offer price $199,999

Occupancy floor 87%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6222 Sandpiper Ln Unit NA Princeton, TX	3.0	2.5	1400	$1,750	$1.25	7d	1	0.02mi
6310 Sandpiper Ln Princeton, TX	4.0	2.5	1549	$2,030	$1.31	11d	1	0.05mi
6311 Whimbrel Way Princeton, TX	4.0	2.5	1535	$1,795	$1.17	10d	1	0.07mi
721 Wagtail Dr Princeton, TX	4.0	2.5	1535	$1,600	$1.04	24d	1	0.08mi
724 Wagtail Dr Princeton, TX	3.0	2.5	1360	$1,675	$1.23	2d	1	0.08mi
724 Wagtail Dr Princeton, TX	3.0	2.5	1360	$1,675	$1.23	3d	1	0.08mi
732 Sandhill Crane Ln Princeton, TX	4.0	2.5	1570	$1,875	$1.19	11d	1	0.09mi
600 Sandhill Crane Ln Princeton, TX	3.0	2.0	1402	$2,100	$1.50	13d	1	0.13mi
801 Wagtail Dr , TX	4.0	2.5	1535	$1,975	$1.29	7d	1	0.13mi
803 Wagtail Dr , TX	3.0	2.5	1360	$1,605	$1.18	22d	1	0.14mi
812 Sandhill Crane Ln Princeton, TX	3.0	2.5	1309	$1,850	$1.41	44d	1	0.15mi
623 Linden Rd Princeton, TX	3.0	2.5	1419	$1,650	$1.16	44d	1	0.17mi
6225 Kingfisher Way Princeton, TX	3.0	2.5	1290	$1,625	$1.26	4d	1	0.18mi
6313 Kingfisher Way Princeton, TX	3.0	3.0	1360	$1,650	$1.21	44d	1	0.20mi
6102 Pinion Trl , TX	3.0	2.5	1419	$1,600	$1.13	44d	1	0.22mi
905 Blue Heron Dr Princeton, TX	4.0	2.5	1535	$1,775	$1.16	22d	1	0.22mi
905 Blue Heron Dr Princeton, TX	4.0	2.5	1535	$1,775	$1.16	24d	1	0.22mi
904 Sandhill Crane Ln Princeton, TX	4.0	2.5	1600	$1,750	$1.09	44d	1	0.22mi
914 Sandhill Crane Ln Princeton, TX	3.0	2.5	1189	$1,775	$1.49	7d	1	0.23mi
6015 Pinion Trl , TX	4.0	2.5	1615	$1,950	$1.21	44d	1	0.23mi
911 Sandhill Crane Ln Princeton, TX	3.0	2.5	1360	$1,575	$1.16	44d	1	0.23mi
6018 Primrose Rd , TX	3.0–4.0	2.5	1484	$1,875	$1.26	3d	5	0.24mi
935 Sandhill Crane Ln Princeton, TX	3.0	2.5	1189	$1,999	$1.68	19d	1	0.25mi
919 Blue Heron Dr Princeton, TX	4.0	2.5	1535	$1,775	$1.16	44d	1	0.26mi
919 Blue Heron Dr Princeton, TX	4.0	2.5	1535	$1,700	$1.11	17d	1	0.26mi
926 Wood Stork Way Princeton, TX	3.0	2.5	1285	$1,700	$1.32	24d	1	0.27mi
6505 Glade St Princeton, TX	4.0	2.0	1600	$1,800	$1.12	44d	1	0.28mi
6234 Sanderling St Princeton, TX	4.0	2.5	1535	$1,725	$1.12	44d	1	0.31mi
416 Finch CIR Princeton, TX	3.0	2.0	1266	$1,350	$1.07	44d	1	0.33mi
427 Bower DR Princeton, TX	4.0	2.0	1600	$1,850	$1.16	24d	1	0.36mi
613 Holleman Dr , TX	3.0	2.0	1260	$2,000	$1.59	24d	1	0.37mi
545 Holleman Dr Princeton, TX	3.0	2.0	1474	$1,750	$1.19	44d	1	0.40mi
538 Montclair Ave Princeton, TX	3.0	2.0	1260	$1,775	$1.41	10d	1	0.42mi
656 Waymaker Way Princeton, TX	4.0	3.0	2015	$2,175	$1.08	11d	1	0.45mi
241 Boxberry Way Princeton, TX	3.0	2.0	1411	$1,725	$1.22	44d	1	0.45mi
639 Montclair Ave , TX	4.0	2.0	1707	$2,100	$1.23	44d	1	0.46mi
639 Montclair Ave , TX	4.0	2.0	1707	$1,850	$1.08	7d	1	0.46mi
402 Harvest St Princeton, TX	3.0	2.0	1433	$1,665	$1.16	13d	1	0.46mi
6744 Teal Cir Princeton, TX	3.0	2.0	1474	$1,790	$1.21	21d	1	0.53mi
214 Wheatgrass Ln Princeton, TX	3.0	2.0	1407	$1,699	$1.21	44d	1	0.54mi

HOA detail

• Monthly dues: $41 · $492/yr

Listing history 2 events

1. 2026-05-09
   status Pending 517-char remark
2. 2026-05-05
   listed $199,999 Active 517-char remark

ⓘ 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: $24,186
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,935
• − Management: −$1,935
• − HOA: −$492
• − Depreciation: −$5,818
• Taxable loss: −$1,197
• Est. tax savings @ 24.0%: +$287
• After-tax cash flow: $2,317/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

2 events — show timeline

• 2026-05-09 Pending — NTREIS
• 2026-05-05 Listed $199,999 NTREIS