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1120 Twin Lakes Drive Wylie, TX 75098

3 Beds 2 Baths 1,767 sqft Built 2006

$274,900

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $155.57
  • 2 Days on Market
  • MLS # : 14475378
  • Updated Date : 11/21/2020 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,767 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Delightful, light and bright, with neutral tones throughout this wonderfully designed home! The floor plan offers a large family room with corner fireplace, generous island kitchen with plenty of cabinetry and spacious dining area! The owners retreat has a separate shower, garden tub, dual sinks and a large walk-in closet! The secondary bedrooms share a hall bath. The utility room is huge and offers an area that additional shelving could be added for more pantry space OR could function as a sewing or crafting area. Enjoy the back yard with board on board fencing and approximate 30 x 11 covered rear patio! Nice landscaping, solar screens, sprinkler system, roof and gutters replaced in 2016! Easy access to PGBT.

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
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
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,014
Property Tax -$569
Property Insurance -$129
Property Management Fees -$99
CASH FLOW
-$151

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.

$274,900

PROJECTED PRICE

$1,660

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,014

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$4,828

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,820

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,660
1$1,6602$1,7503$1,7754$1,7955$1,800
$1,800
RENT COMPS ANALYSIS
  • 1120 Twin Lakes Drive Wylie, TX 1
    • 3 beds 2 baths ∙ 1,767 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,767 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.94
    •  
  • 213 Lake Travis Drive Wylie, TX 2
    • 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
    •  
  • 325 Lake Wichita Drive Wylie, TX 3
    • 4 beds 2 baths ∙ 1,784 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,784 Sqft ∙ Built 2001
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.99
    •  
  • 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
    •  
  • 1103 Lake Whitney Drive Wylie, TX 5
    • 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 2006
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.03
    •  
PROPERTY LISTING DETAILS
Charlotte Shipley
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475378
Last Updated: 11/21/2020
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