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1402 Hickory Woods Wylie, TX 75098

4 Beds 4 Baths 2,820 sqft Built 2020

INVESTimate

$428,480

List Price

$2,130

$1,917 - $2,343

Rent Est.

$466,400  ( +8.85%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $151.94
  • 5 Days on Market
  • MLS # : 14419067
  • Updated Date : 08/25/2020 at 08:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,820 sqft
  • Baths : 3 full , 1 half
Listing Agent

Highland Homes Realty

Listing Agent's Description

MLS# 14419067 - Built by Highland Homes - January completion! ~ 1 Story, 4 bedrooms, 3.5 baths, family room, entertainment room, study, extended covered patio, 3 car tandem garage Stunning plan w11' ceilings & 8' doors, quartz countertops, painted cabinets w42uppers, gas cooktop, built-in ovenmicrowave, spacious walk-in pantry, wood flooring in living areas, bay window in master bedroom, upgraded carpet, pad & tile and 8' mahogany entry door upgrade

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
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
 

$385,632$471,328$428,480

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,581
Property Tax -$354
Property Insurance -$190
HOA -$42
Property Management Fees -$99
CASH FLOW
-$136

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.

$428,480

PROJECTED PRICE

$2,130

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.85%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,547

INVESTMENT

$115,547

Down Payment
$107,120
Rehab Estimate
$2,000
Closing Costs
$6,427

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,581

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,120
Loan Amount $321,360
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$17,913

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,108

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,0953$2,1004$2,1305$2,150
$2,150
RENT COMPS ANALYSIS
  • 1402 Hickory Woods Wylie, TX 4
    • 4 beds 4 baths ∙ 2,820 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,820 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $0.76
    •  
  • 1307 Hidden Valley Drive Wylie, TX 1
    • 3 beds 3 baths ∙ 2,622 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,622 Sqft ∙ Built 2013
    property image
    LEASED 09/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.72
    •  
  • 1205 S Arthurs Court Wylie, TX 2
    • 4 beds 3 baths ∙ 2,847 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,847 Sqft ∙ Built 2006
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.74
    •  
  • 1210 Majestic Way Wylie, TX 3
    • 4 beds 3 baths ∙ 2,832 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,832 Sqft ∙ Built 2006
    property image
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.74
    •  
  • 1103 Arthurs Court Wylie, TX 5
    • 4 beds 2 baths ∙ 2,726 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,726 Sqft ∙ Built 2006
    property image
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.79
    •  
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 #: 14419067
Last Updated: 08/25/2020
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