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1035 Hall Drive Wylie, TX 75098

3 Beds 2 Baths 1,634 sqft Built 2001

$263,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $160.95
  • 3 Days on Market
  • MLS # : 14455945
  • Updated Date : 11/07/2020 at 19:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,634 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Central

Listing Agent's Description

HUGE CORNER LOT on .40 acre features 13x16 Workshop with electric and air, 12x11 storage shed, 20x24 covered parking area and slab great for boat storage, 8 ft fence, composting area with fence and huge backyard! House features 3 bedrooms, 2 baths, 2 car garage, living room with slate floors, fireplace and ceiling fan; kitchen features granite counters, island, undermount sink, tons of counter space and pull down faucet. Preview today!

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
 

$236,700$289,300$263,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$970
Property Tax -$544
Property Insurance -$122
Property Management Fees -$99
CASH FLOW
-$65

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.

$263,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.63%

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

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,445

INVESTMENT

$75,445

Down Payment
$65,750
Rehab Estimate
$5,750
Closing Costs
$3,945

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$970

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,750
Loan Amount $197,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$9,585

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,691

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6703$1,7504$1,7955$1,850
$1,850
RENT COMPS ANALYSIS
  • 1035 Hall Drive Wylie, TX 2
    • 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $1.02
    •  
  • 1305 Taos Lane Wylie, TX 1
    • 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 2000
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.01
    •  
  • 213 Lake Travis Drive Wylie, TX 3
    • 4 beds 2 baths ∙ 1,688 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,688 Sqft ∙ Built 2001
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.04
    •  
  • 1105 Deer Lake Court Wylie, TX 4
    • 4 beds 2 baths ∙ 1,691 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,691 Sqft ∙ Built 2002
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.06
    •  
  • 222 Silvercreek Drive Wylie, TX 5
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2007
    LEASED 04/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.03
    •  
PROPERTY LISTING DETAILS
Julie Acuna
Keller Williams Central
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14455945
Last Updated: 11/07/2020
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