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1005 Meandering Drive Wylie, TX 75098

4 Beds 4 Baths 2,927 sqft Built 2000

$369,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $126.07
  • 5 Days on Market
  • MLS # : 14464487
  • Updated Date : 11/06/2020 at 11:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,927 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max Town & Country

Listing Agent's Description

This gorgeous home in the Sage Creek Subdivision has tons of space! Owner's suite is on the main level with large ensuite. Main living space has HUGE windows reaching the second floor creating a very BRIGHT and inviting space. Open floor plan on main level with kitchen directly off living room makes entertaining a breeze. BEAUTIFULLY UPGRADED kitchen features stainless steel appliances, freshly painted white cabinets, and luxury granite. Escape upstairs and enjoy a movie in your huge media room. All 3 guest rooms are also upstairs as well as two bathrooms. Catch some fresh air in your beautifully manicured backyard with open concrete patio. This home boasts many community amenities and has access to Wylie ISD.

SEE MORE

MARKET HIGHLIGHTS

  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)
  • Dallas metro's economy is worth $579 billion in Gross Metro Product and projected to grow to $613 billion in 2019 (USMayors.org, 2018)
  • Home to 20 Fortune 500 headquarters, 39 Fortune 1000 headquarters and 12 of Forbes' top private companies (Fortune)
  • Dallas metro contributes to 31.9%% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Dallas metro has 67.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 75098

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 75098

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
R.v.groves Elementary School Primary Regular 632 40 9
Raymond B. Cooper Junior High School Middle Regular 748 44 10
Raymond B. Cooper Junior High School High Regular 748 44 10

R.v.groves Elementary School

  • Education Level: Primary
  • # of students: 632
  • # of teachers: 40
9
GreatSchools Rating

Raymond B. Cooper Junior High School

  • Education Level: Middle
  • # of students: 748
  • # of teachers: 44
10
GreatSchools Rating

Raymond B. Cooper Junior High School

  • Education Level: High
  • # of students: 748
  • # of teachers: 44
10
GreatSchools Rating
 

$332,100$405,900$369,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,361
Property Tax -$764
Property Insurance -$196
HOA -$31
Property Management Fees -$99
CASH FLOW
-$231

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$369,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,535

INVESTMENT

$103,535

Down Payment
$92,250
Rehab Estimate
$5,750
Closing Costs
$5,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,361

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,250
Loan Amount $276,750
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$4,477

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,220

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,203

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1953$2,1954$2,2205$2,450
$2,450
RENT COMPS ANALYSIS
  • 1005 Meandering Drive Wylie, TX 4
    • 4 beds 4 baths ∙ 2,927 Sqft ∙ Built 2000 4 beds 4 baths ∙ 2,927 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.76
    •  
  • 429 Ponderosa Trail Murphy, TX 1
    • 4 beds 3 baths ∙ 2,834 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,834 Sqft ∙ Built 2003
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.71
    •  
  • 1009 N Wooded Creek Avenue Wylie, TX 2
    • 4 beds 3 baths ∙ 2,995 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,995 Sqft ∙ Built 2006
    LEASED 01/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.73
    •  
  • 2923 Hunters Way Wylie, TX 3
    • 4 beds 2 baths ∙ 2,929 Sqft ∙ Built 2009 4 beds 2 baths ∙ 2,929 Sqft ∙ Built 2009
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.75
    •  
  • 2905 Midstream Drive Wylie, TX 5
    • 4 beds 3 baths ∙ 2,996 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,996 Sqft ∙ Built 2006
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.82
    •  
PROPERTY LISTING DETAILS
Marissa Bishop
Re/max Town & Country
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464487
Last Updated: 11/06/2020
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