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117 County Road 337 Tuscola, TX 79562

3 Beds 2 Baths 1,601 sqft Built 2013

INVESTimate

$176,000

List Price

$1,780

$1,602 - $1,958

Rent Est.

$182,406  ( +3.64%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2013
  • Price/Sqft : $109.93
  • 7 Days on Market
  • MLS # : 14417608
  • Updated Date : 08/25/2020 at 09:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,601 sqft
  • Baths : 2 full
Listing Agent

Senter, Realtors

Listing Agent's Description

NO City taxes on this one. Wylie ISD, located just south off Clark Rd right on Iberis left on CR 337. Gorgeous Ranch Style Townhome with survey available & ready for occupancy SEPTEMBER 1,2020. Beautiful stain concrete with kitchen open to the living area. Walk-in pantry & laundry. Master downstairs, 2 separate AC units with smart phone thermostat programmable control. Class 4 roof will lower insurance yearly, granite counters, stainless appliances fenced & landscaping wrought iron railing.

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: 79562

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $78k264k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 79562

ZipNIR Market*CityMarket2015Year20112019 Q2900100011001200130014001500160017001800Rent in $8341813

* 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
Wylie Intermediate School Primary Regular 618 34 8
Wylie Junior High School Middle Regular 625 37 9
Wylie High School High Regular 1,026 67 8

Wylie Intermediate School

  • Education Level: Primary
  • # of students: 618
  • # of teachers: 34
8
GreatSchools Rating

Wylie Junior High School

  • Education Level: Middle
  • # of students: 625
  • # of teachers: 37
9
GreatSchools Rating

Wylie High School

  • Education Level: High
  • # of students: 1,026
  • # of teachers: 67
8
GreatSchools Rating
 

$158,400$193,600$176,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$649
Property Tax -$266
Property Insurance -$118
HOA -$8
Property Management Fees -$99
CASH FLOW
$639

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 18% of earned rent to cover both maintenance and periods of vacancy.

$176,000

PROJECTED PRICE

$1,780

PROJECTED RENT

1.01%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 3.64%
Maintenance Year (1-5) 8.00%
Vacancy 9.90%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,390

INVESTMENT

$52,390

Down Payment
$44,000
Rehab Estimate
$5,750
Closing Costs
$2,640

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$649

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $44,000
Loan Amount $132,000
See What Happens When You Reinvest Cash Flow

16.42

YEARS SAVED

$56,685

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,809

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7803$2,100
$2,100
RENT COMPS ANALYSIS
  • 117 County Road 337 Tuscola, TX 2
    • 3 beds 2 baths ∙ 1,601 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,601 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $1.11
    •  
  • 453 County Road 336 Tuscola, TX 1
    • 3 beds 2 baths ∙ 1,603 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,603 Sqft ∙ Built 1999
    property image
    LEASED 06/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.09
    •  
  • 270 Gatling Street Tuscola, TX 3
    • 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 2019
    property image
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.17
    •  
PROPERTY LISTING DETAILS
Pam Yungblut
Senter, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417608
Last Updated: 08/25/2020
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