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104 Rushcreek Drive Wylie, TX 75098

3 Beds 2 Baths 1,769 sqft Built 1983

$255,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1983
  • Price/Sqft : $144.15
  • 3 Days on Market
  • MLS # : 14466902
  • Updated Date : 11/07/2020 at 12:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,769 sqft
  • Baths : 2 full
Listing Agent

Jpar- The Sears Group

Listing Agent's Description

This home provided warmth and love to the ones raised here and now its your turn. Walk in to a cozy home where the family can come together in the living room, telling stories about their day in front of the gas starter wood burning fireplace, enjoying drinks from the built-in wet bar while the best family meals are cooking up on the gas stove and prepared on the granite countertops. Let the family eat together inside the kitchen, the dining room or on the outdoor open patio. Rest your working souls in the large primary bedroom with a walk-in closet and the primary bath with a garden tub and single vanity. The family can enjoy their bedrooms with a designated full bath. Situated on a corner lot in 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
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
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$941
Property Tax -$528
Property Insurance -$129
Property Management Fees -$99
CASH FLOW
-$47

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.

$255,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.65%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$10,407

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,751

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,6704$1,6955$1,800
$1,800
RENT COMPS ANALYSIS
  • 104 Rushcreek Drive Wylie, TX 2
    • 3 beds 2 baths ∙ 1,769 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,769 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.93
    •  
  • 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
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.01
    •  
  • 306 Briarwood Drive Wylie, TX 3
    • 4 beds 2 baths ∙ 1,704 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,704 Sqft ∙ Built 1976
    property image
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.98
    •  
  • 113 Liberty Drive Wylie, TX 4
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1986
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.97
    •  
  • 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
    property image
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.00
    •  
PROPERTY LISTING DETAILS
Rochelle Fitzgerald
Jpar- The Sears Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466902
Last Updated: 11/07/2020
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