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1323 Clear Creek Drive Wylie, TX 75098

3 Beds 2 Baths 1,727 sqft Built 2006

$255,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $147.65
  • 2 Days on Market
  • MLS # : 14523386
  • Updated Date : 02/27/2021 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,727 sqft
  • Baths : 2 full
Listing Agent

Re/max-3d Real Estate

Listing Agent's Description

This beautifully maintained and updated 3 bedroom, 2 bath home in Bozeman Farms is the perfect home for you and nestled right in the heart of Wylie! Located in the first phase of this community, you'll find mature trees and large backyards! As you enter into the home, you are greeted with an open floorplan where the kitchen and living room are able to see each other and enjoy conversation! A stunning wood-burning fireplace is a statement piece as you walk in. The master suite is stunning and offers privacy with the split bedroom floorplan. While being on the same power grid as the local police department, you'll have the warmest home in the family next snow storm! ;) Come see it today!

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
Watkins Elementary School Primary Regular 609 40 8
Grady Burnett Junior High School Middle Regular 725 43 9
Wylie East High School High Regular 1,718 109 8

Watkins Elementary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 40
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
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$886
Property Tax -$528
Property Insurance -$127
HOA -$42
Property Management Fees -$99
CASH FLOW
-$132

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.

$255,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.61%

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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$3,249

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,753

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,7003$1,7954$1,8505$1,850
$1,850
RENT COMPS ANALYSIS
  • 1323 Clear Creek Drive Wylie, TX 1
    • 3 beds 2 baths ∙ 1,727 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,727 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.90
    •  
  • 1314 Iron Horse Street Wylie, TX 2
    • 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 2005
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.99
    •  
  • 1327 Clear Creek Drive Wylie, TX 3
    • 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 2006
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.05
    •  
  • 1218 Cedar Branch Drive Wylie, TX 4
    • 4 beds 2 baths ∙ 1,860 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,860 Sqft ∙ Built 2006
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.99
    •  
  • 1200 Cedar Branch Wylie, TX 5
    • 3 beds 2 baths ∙ 1,804 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,804 Sqft ∙ Built 2011
    LEASED 02/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.03
    •  
PROPERTY LISTING DETAILS
Lori Howell
Re/max-3d Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14523386
Last Updated: 02/27/2021
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