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109 Forestbrook Drive Wylie, TX 75098

3 Beds 2 Baths 2,077 sqft Built 2009

$299,900

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $144.39
  • 4 Days on Market
  • MLS # : 14508395
  • Updated Date : 02/06/2021 at 17:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,077 sqft
  • Baths : 2 full
Listing Agent

Scott Neal Real Estate

Listing Agent's Description

Immaculate one story home ready for move-in. Too many updates to list including new AC unit 2019! Formal living could also be a playroom or formal dining. Off to the right a private office with french doors. Beautiful Dine-in kitchen overlooks the family room with new stainless steel appliances 2020, granite countertops, and loads of cabinet space. Cozy family room offers views of the backyard. Owners Retreat boasts his & her sinks, separate tub & shower, and large walk-in closet. Backyard paradise with new Board on Board fence 2018, hot tub in the corner for privacy, freshly painted decking that offers room for entertainment, garden area, swing set and play area on the side, and detached shed for extra storage

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

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
Watkins Elementary School Primary Regular 609 40 8
Grady Burnett Junior High School Middle Regular 725 43 9
Wylie East High School High Regular 1,718 109 8

Watkins Elementary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 40
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
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,042
Property Tax -$621
Property Insurance -$147
HOA -$21
Property Management Fees -$99
CASH FLOW
-$69

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.

$299,900

PROJECTED PRICE

$1,860

PROJECTED RENT

0.62%

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

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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$8,368

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,911

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,745
1$1,7452$1,7953$1,8604$1,8955$1,950
$1,950
RENT COMPS ANALYSIS
  • 109 Forestbrook Drive Wylie, TX 3
    • 3 beds 2 baths ∙ 2,077 Sqft ∙ Built 2009 3 beds 2 baths ∙ 2,077 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.90
    •  
  • 105 Shadybrook Drive Wylie, TX 1
    • 4 beds 2 baths ∙ 2,070 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,070 Sqft ∙ Built 2005
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.84
    •  
  • 1301 Red River Drive Wylie, TX 2
    • 4 beds 2 baths ∙ 1,893 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,893 Sqft ∙ Built 2008
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.95
    •  
  • 107 Cliffbrook Drive Wylie, TX 4
    • 4 beds 2 baths ∙ 2,070 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,070 Sqft ∙ Built 2005
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.92
    •  
  • 1006 Lake Dallas Drive Wylie, TX 5
    • 4 beds 2 baths ∙ 2,005 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,005 Sqft ∙ Built 2000
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.97
    •  
PROPERTY LISTING DETAILS
Scott Neal
Scott Neal Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14508395
Last Updated: 02/06/2021
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