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1311 Devonshire Lane Wylie, TX 75098

3 Beds 2 Baths 1,223 sqft Built 1987

$225,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $183.97
  • 4 Days on Market
  • MLS # : 14497628
  • Updated Date : 01/16/2021 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,223 sqft
  • Baths : 2 full
Listing Agent

Smart Realty

Listing Agent's Description

3 bedroom, 2 bath, 2 car garage in Wylie ISD with easy access to Hwy 78, convenient access to schools, restaurants, and shopping. Newly updated. Large backyard and front yard.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$782
Property Tax -$466
Property Insurance -$98
Property Management Fees -$99
CASH FLOW
$76

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.

$225,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.68%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$16,133

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $1.24

    LIST RENT PER SQFT
  • $1,342

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4503$1,5204$1,5505$1,675
$1,675
RENT COMPS ANALYSIS
  • 1311 Devonshire Lane Wylie, TX 3
    • 3 beds 2 baths ∙ 1,223 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,223 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $1.24
    •  
  • 501 N Kreymer Lane Wylie, TX 1
    • 3 beds 2 baths ∙ 1,307 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,307 Sqft ∙ Built 1996
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.11
    •  
  • 1305 E Brown Street Wylie, TX 2
    • 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1998
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.07
    •  
  • 1305 Wyndham Drive Wylie, TX 4
    • 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1985
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.10
    •  
  • 1401 Devonshire Lane Wylie, TX 5
    • 3 beds 2 baths ∙ 1,511 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,511 Sqft ∙ Built 1986
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.11
    •  
PROPERTY LISTING DETAILS
Dan Cooper
Smart Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14497628
Last Updated: 01/16/2021
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