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1301 Chestnut Hill Drive Wylie, TX 75098

3 Beds 2 Baths 2,414 sqft Built 2005

$289,900

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $120.09
  • 3 Days on Market
  • MLS # : 14474979
  • Updated Date : 11/21/2020 at 08:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,414 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

OPEN HOUSE SATURDAY 12-2:00~Wonderful home Located in desirable Bozman Farms, with open floor plan. Off from the Spacious kitchen, resides the large living room with your cozy fire place with gas log and starter. Large master bath with separate shower tub. Huge game room upstairs. Nice kitchen featuring gas range, granite countertops and a central island. Radiant barrier in attic for low utilities. Private backyard with covered patio, Bozeman Farms features walking trails, catch and release pond, and community swimming. This house has so many nice features and over 2400 sq ft. This is home is part of the highly acclaimed Wylie ISD

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
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,070
Property Tax -$590
Property Insurance -$167
HOA -$42
Property Management Fees -$99
CASH FLOW
-$57

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.

$289,900

PROJECTED PRICE

$1,910

PROJECTED RENT

0.66%

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$10k

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$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$10,970

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,986

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,840
1$1,8402$1,9003$1,9104$1,9955$2,200
$2,200
RENT COMPS ANALYSIS
  • 1301 Chestnut Hill Drive Wylie, TX 3
    • 3 beds 2 baths ∙ 2,414 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,414 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.79
    •  
  • 1122 Lake Whitney Drive Wylie, TX 1
    • 4 beds 2 baths ∙ 2,310 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,310 Sqft ∙ Built 2005
    property image
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.80
    •  
  • 1619 Roberts Ravine Road Wylie, TX 2
    • 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 2015
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.85
    •  
  • 1222 Iron Horse Street Wylie, TX 4
    • 4 beds 3 baths ∙ 2,547 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,547 Sqft ∙ Built 2006
    property image
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.78
    •  
  • 1709 Oak Glen Drive Wylie, TX 5
    • 3 beds 3 baths ∙ 2,568 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,568 Sqft ∙ Built 2013
    property image
    LEASED 07/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.86
    •  
PROPERTY LISTING DETAILS
Marilyn Iness
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 #: 14474979
Last Updated: 11/21/2020
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