Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1301 Hickory Woods Wylie, TX 75098

5 Beds 4 Baths 3,331 sqft Built 2020

$463,175

List Price

$2,460

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $139.05
  • 6 Days on Market
  • MLS # : 14477042
  • Updated Date : 11/25/2020 at 09:51
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,331 sqft
  • Baths : 4 full
Listing Agent

Highland Homes Realty

Listing Agent's Description

MLS# 14477042 - Built by Highland Homes - March completion! ~ 2 Story, 5 bedroom, 4 bath, family room, game room, play room, study, formal dining, extended covered patio, master bay window extension, 3 car tandem garage Corner lot! This open concept home includes soaring vaulted ceilings, white cabinets, Level 3 quartz countertops, large island with sink, walk-in pantry, gas cooktop & built in oven & Microwave, GE appliances, wood flooring, carpet & pad upgrade in bedrooms, iron railing, mahogany entry door and stone fireplace

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
 

$416,858$509,493$463,175

PURCHASE PRICE

$2,214$2,706$2,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,460
EXPENSES Loan Payment -$1,709
Property Tax -$380
Property Insurance -$220
HOA -$42
Property Management Fees -$99
CASH FLOW
$11

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$463,175

PROJECTED PRICE

$2,460

PROJECTED RENT

0.53%

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) 3.00%
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$1.2M$1.4M$1.6M

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$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,741

INVESTMENT

$124,741

Down Payment
$115,794
Rehab Estimate
$2,000
Closing Costs
$6,948

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,709

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $115,794
Loan Amount $347,381
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$32,972

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,460

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,398

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,2953$2,4504$2,4605$2,550
$2,550
RENT COMPS ANALYSIS
  • 1301 Hickory Woods Wylie, TX 4
    • 5 beds 4 baths ∙ 3,331 Sqft ∙ Built 2020 5 beds 4 baths ∙ 3,331 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,460
    • $0.74
    •  
  • 2901 Montague Trail Wylie, TX 1
    • 4 beds 3 baths ∙ 3,374 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,374 Sqft ∙ Built 2003
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.65
    •  
  • 2917 Jamestown Drive Wylie, TX 2
    • 4 beds 3 baths ∙ 3,375 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,375 Sqft ∙ Built 2003
    property image
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.68
    •  
  • 1607 Saddle Ridge Drive Wylie, TX 3
    • 5 beds 3 baths ∙ 3,049 Sqft ∙ Built 2015 5 beds 3 baths ∙ 3,049 Sqft ∙ Built 2015
    property image
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.80
    •  
  • 1608 Saddle Ridge Road Wylie, TX 5
    • 4 beds 4 baths ∙ 3,399 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,399 Sqft ∙ Built 2016
    property image
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.75
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Highland Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14477042
Last Updated: 11/25/2020
BESbswy