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1213 Maritime Lane Wylie, TX 75098

4 Beds 3 Baths 2,708 sqft Built 1999

INVESTimate

$265,000

List Price

$1,920

$1,728 - $2,112

Rent Est.

$288,453  ( +8.85%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $97.86
  • 7 Days on Market
  • MLS # : 14414275
  • Updated Date : 08/20/2020 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,708 sqft
  • Baths : 2 full , 1 half
Listing Agent

Great American Gmac Real Estat

Listing Agent's Description

This home offers ultimate family living in one of the ideal neighborhoods in Wylie! This beautiful 4 bedroom features an open floor plan for ease of living. Family room with fireplace opens to kitchen. Flex room could be study room, game room or home office. Primary bedroom down stairs with large bath - separate shower and garden tub. Practical second floor with living area, 3 bedrooms and one bath. Hard surface floors with carpet in bedrooms. Extended patio and newer fence. NO HOA! TENANT OCCUPIED SO APPOINTMENT IS REQUIRED!

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
Davis Intermediate School Primary Regular 692 42 8
Frank Mcmillan Junior High School Middle Regular 656 43 10
Wylie High School High Regular 2,061 127 9

Davis Intermediate School

  • Education Level: Primary
  • # of students: 692
  • # of teachers: 42
8
GreatSchools Rating

Frank Mcmillan Junior High School

  • Education Level: Middle
  • # of students: 656
  • # of teachers: 43
10
GreatSchools Rating

Wylie High School

  • Education Level: High
  • # of students: 2,061
  • # of teachers: 127
9
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$978
Property Tax -$548
Property Insurance -$184
Property Management Fees -$99
CASH FLOW
$111

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.

$265,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.85%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$24,392

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,923

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8503$1,9204$1,9955$2,000
$2,000
RENT COMPS ANALYSIS
  • 1213 Maritime Lane Wylie, TX 3
    • 4 beds 3 baths ∙ 2,708 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,708 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.71
    •  
  • 1400 Coral Reef Lane Wylie, TX 1
    • 4 beds 3 baths ∙ 2,709 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,709 Sqft ∙ Built 1998
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.68
    •  
  • 1526 Starpoint Lane Wylie, TX 2
    • 5 beds 3 baths ∙ 2,708 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,708 Sqft ∙ Built 1999
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.68
    •  
  • 1510 Starpoint Lane Wylie, TX 4
    • 4 beds 3 baths ∙ 2,708 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,708 Sqft ∙ Built 1999
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.74
    •  
  • 1508 Coral Reef Lane Wylie, TX 5
    • 4 beds 3 baths ∙ 2,708 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,708 Sqft ∙ Built 1998
    LEASED 08/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.74
    •  
PROPERTY LISTING DETAILS
Vickie Rowland
Great American Gmac Real Estat
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14414275
Last Updated: 08/20/2020
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