6537 Shoreline Ln

Wylie, TX 75407

$219,900D-

2 bd · 2.0 ba · 1,099 sqft · Built 2023 · SingleFamily · Active · 84 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,733/mo
• Mortgage (P&I): −$1,153
• Tax + insurance: −$324
• HOA: −$42
• Vac / Maint / Mgmt: −$364
• Net cashflow: $-151/mo
• Annual: $-1,807/yr
• Cap rate: 5.47%
• Cash-on-cash: -2.93%
• DSCR: 0.87
• 1% rule: 0.79%
• Cash to close: $61,572

Investor read

• This is a 2-bed/2.0-bath single-family listed at $220k.
• At list price, monthly cash flow is $-151 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $193k (12.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $173k (21.2% below list).
• It's been on market 84 days — a 6% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $173k (21.2% 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 $7k of value loss. Plan a longer hold.
• 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); 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); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.5% 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.

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?
• It's been on market 84 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.