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1407 Gordon Drive Wylie, TX 75098

3 Beds 2 Baths 1,781 sqft Built 2004

$285,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $160.02
  • 2 Days on Market
  • MLS # : 14501371
  • Updated Date : 01/16/2021 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,781 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

This Wylie one-story home offers a two-car garage. This home is vacant and cleaned regularly.

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
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$990
Property Tax -$590
Property Insurance -$130
HOA -$35
Property Management Fees -$99
CASH FLOW
-$64

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.

$285,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.62%

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

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$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$8,057

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,790

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7493$1,7504$1,7805$1,790
$1,790
RENT COMPS ANALYSIS
  • 1407 Gordon Drive Wylie, TX 4
    • 3 beds 2 baths ∙ 1,781 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,781 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $1.00
    •  
  • 1204 Huntsville Drive Wylie, TX 1
    • 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 2004
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.99
    •  
  • 1413 Gordon Drive Wylie, TX 2
    • 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 2004
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $1.03
    •  
  • 1408 Spinnaker Way Wylie, TX 3
    • 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 2004
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.03
    •  
  • 1402 Talladega Drive Wylie, TX 5
    • 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 2003
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.97
    •  
PROPERTY LISTING DETAILS
Feras Rachid
Opendoor Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501371
Last Updated: 01/16/2021
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