Clock synchronization and ranging over a wireless network with low communication overhead is a challenging goal with tremendous impact. In this paper, we study the use of time-to-digital converters in wireless sensors, which provides clock synchronization and ranging at negligible communication overhead through a sawtooth signal model for round trip times between two nodes. In particular, we derive Cramer-Rao lower bounds for a linearitzation of the sawtooth signal model, and we thoroughly evaluate simple estimation techniques by simulation, giving clear and concise performance references for this technology.