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The CDNN model is the SR-556EC or whatever Ruger calls it. It is their ban compliant gun without a flash hider and a pinned stock.
If you want a gun with a collapsing stock and flash hider I think you'd be better off buying an SR-556E. Those guns are under a Grand and you'd probably come close to that by the time you replaced the buffer tube and stock and paid a gunsmith to pull and thread the barrel.
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A flash hider is not an absolute must-have accessory. If the gun is just for range work, hunting, and/or plinking....one could do without the FH. I have an AR that doesn't have a muzzle device, and it does not have that bad of a report when fired.
None of my bolt guns (all of which are calibers larger than .223/5.56) have a device on the muzzles. I hunt, plink, and fire them at the range...no problems.
Unless it's for muzzle jump (as in a compensator), FH's are pretty much for a battle rifle.