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103 S Rolling Meadows Drive Wylie, TX 75098

3 Beds 2 Baths 1,776 sqft Built 2001

INVESTimate

$249,900

List Price

$1,790

$1,611 - $1,969

Rent Est.

$272,016  ( +8.85%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $140.71
  • 2 Days on Market
  • MLS # : 14419391
  • Updated Date : 08/25/2020 at 04:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,776 sqft
  • Baths : 2 full
Listing Agent

Ready Real Estate, Llc

Listing Agent's Description

Gorgeous updated move in ready 3 bedroom 2 bath single story home located in a no HOA neighborhood. Home features formal living dining area, open kitchen to the family room with a fireplace. Spacious master bedroom and bath with separate shower and garden tub. Large walk in master closet. New flooring through out, freshly painted walls and ceilings, even the closets were painted! Bonus room garage conversion is not included in the above sq ft. Garage can be converted back to a 2 car garage.

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
A.b. Harrison Intermediate School Primary Regular 658 39 8
Grady Burnett Junior High School Middle Regular 725 43 9
Wylie East High School High Regular 1,718 109 8

A.b. Harrison Intermediate School

  • Education Level: Primary
  • # of students: 658
  • # of teachers: 39
8
GreatSchools Rating

Grady Burnett Junior High School

  • Education Level: Middle
  • # of students: 725
  • # of teachers: 43
9
GreatSchools Rating

Wylie East High School

  • Education Level: High
  • # of students: 1,718
  • # of teachers: 109
8
GreatSchools Rating
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$922
Property Tax -$517
Property Insurance -$130
Property Management Fees -$99
CASH FLOW
$122

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.

$249,900

PROJECTED PRICE

$1,790

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.85%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$25,404

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,785

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6993$1,7454$1,7905$1,800
$1,800
RENT COMPS ANALYSIS
  • 103 S Rolling Meadows Drive Wylie, TX 4
    • 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.01
    •  
  • 204 Windy Knoll Lane Wylie, TX 1
    • 3 beds 2 baths ∙ 1,633 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,633 Sqft ∙ Built 2002
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.01
    •  
  • 112 N Bending Oak Lane Wylie, TX 2
    • 3 beds 2 baths ∙ 1,806 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,806 Sqft ∙ Built 2000
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.94
    •  
  • 107 Windy Knoll Wylie, TX 3
    • 3 beds 2 baths ∙ 1,633 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,633 Sqft ∙ Built 2003
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $1.07
    •  
  • 110 Windy Knoll Lane Wylie, TX 5
    • 3 beds 2 baths ∙ 1,806 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,806 Sqft ∙ Built 2000
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.00
    •  
PROPERTY LISTING DETAILS
Rayann Burton
Ready Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419391
Last Updated: 08/25/2020
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