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

1318 E Oak Street Wylie, TX 75098

4 Beds 2 Baths 2,378 sqft Built 2007

$300,000

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $126.16
  • 5 Days on Market
  • MLS # : 14524551
  • Updated Date : 03/05/2021 at 09:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,378 sqft
  • Baths : 2 full
Listing Agent

Epps Realty, Llc

Listing Agent's Description

MULTIPLE OFFERS RECEIVED! HIGHEST & BEST DUE BY NOON ON SUNDAY, MARCH 7TH. On a quiet Cul De Sac. This home offers a single story 4 bedroom, 2 bath floorplan with bonus room upstairs. Split Master bedroom with large walk in closet and bathroom with separate tub and shower plus his and her sinks. Large eat in kitchen offers a breakfast bar and island, plenty of cabinet and counter space, great breakfast area and is open to the cozy living room complete with a wood burning fireplace. The bonus room upstairs is a great space to watch your favorite game or movie, or deck it out with a ping pong and fuse ball table! Outdoor features a large backyard with full sprinkler, covered patio, and an oversized driveway.

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
P.m. Akin Elementary School Primary Regular 517 32 8
Grady Burnett Junior High School Middle Regular 725 43 9
Wylie East High School High Regular 1,718 109 8

P.m. Akin Elementary School

  • Education Level: Primary
  • # of students: 517
  • # of teachers: 32
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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,042
Property Tax -$621
Property Insurance -$165
HOA -$20
Property Management Fees -$99
CASH FLOW
$34

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.

$300,000

PROJECTED PRICE

$1,980

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$12k

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$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$15,194

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,986

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,8433$1,9004$1,9805$2,200
$2,200
RENT COMPS ANALYSIS
  • 1318 E Oak Street Wylie, TX 4
    • 4 beds 2 baths ∙ 2,378 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,378 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.83
    •  
  • 2924 Glendale Drive Wylie, TX 1
    • 4 beds 2 baths ∙ 2,088 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,088 Sqft ∙ Built 2003
    property image
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.83
    •  
  • 2807 Sutters Mill Way Wylie, TX 2
    • 4 beds 3 baths ∙ 2,294 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,294 Sqft ∙ Built 2002
    property image
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,843
    • $0.80
    •  
  • 1619 Roberts Ravine Road Wylie, TX 3
    • 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
    •  
  • 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
Sara Cullen
Epps Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14524551
Last Updated: 03/05/2021
BESbswy