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1406 Summerdale Lane Wylie, TX 75098

4 Beds 2 Baths 2,088 sqft Built 2003

$275,000

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $131.70
  • 2 Days on Market
  • MLS # : 14484459
  • Updated Date : 12/12/2020 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,088 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Beautifully maintained 1 story 4 Bedroom 2 bath home. Open & spacious floorplan with great curb appeal. From the moment you enter, you will love and appreciate the open concept. The home has two living areas and two dining areas. The family room offers a wood-burning fireplace. Large master bedroom and master bath with large walk-in closet. Newly installed upgraded ceramic tile flooring in all living areas, kitchen, and hallways, newly installed fixtures, and recently fully painted interior, includes refrigerator. Large backyard with lots of potentials to build your backyard oasis.

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
Davis Intermediate School Primary Regular 692 42 8
Frank Mcmillan Junior High School Middle Regular 656 43 10
Wylie High School High Regular 2,061 127 9

Davis Intermediate School

  • Education Level: Primary
  • # of students: 692
  • # of teachers: 42
8
GreatSchools Rating

Frank Mcmillan Junior High School

  • Education Level: Middle
  • # of students: 656
  • # of teachers: 43
10
GreatSchools Rating

Wylie High School

  • Education Level: High
  • # of students: 2,061
  • # of teachers: 127
9
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,015
Property Tax -$569
Property Insurance -$148
HOA -$24
Property Management Fees -$99
CASH FLOW
$105

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.

$275,000

PROJECTED PRICE

$1,960

PROJECTED RENT

0.71%

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$24,564

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,963

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7953$1,8004$1,8955$1,960
$1,960
RENT COMPS ANALYSIS
  • 1406 Summerdale Lane Wylie, TX 5
    • 4 beds 2 baths ∙ 2,088 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,088 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.94
    •  
  • 1304 Columbus Lane Wylie, TX 1
    • 4 beds 2 baths ∙ 1,899 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,899 Sqft ∙ Built 2004
    property image
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.92
    •  
  • 1309 Auburn Drive Wylie, TX 2
    • 3 beds 2 baths ∙ 1,950 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,950 Sqft ∙ Built 2004
    property image
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.92
    •  
  • 1603 Timber Brook Drive Wylie, TX 3
    • 3 beds 2 baths ∙ 1,898 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,898 Sqft ∙ Built 2003
    property image
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.95
    •  
  • 1404 Talladega Drive Wylie, TX 4
    • 3 beds 2 baths ∙ 1,950 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,950 Sqft ∙ Built 2003
    property image
    LEASED 09/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.97
    •  
PROPERTY LISTING DETAILS
Alfred Esparza Jr
Exp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14484459
Last Updated: 12/12/2020
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