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1602 Auburndale Wylie, TX 75098

5 Beds 4 Baths 3,212 sqft Built 2020

INVESTimate

$463,793

List Price

$2,430

$2,187 - $2,673

Rent Est.

$504,839  ( +8.85%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $144.39
  • 5 Days on Market
  • MLS # : 14419050
  • Updated Date : 08/25/2020 at 08:49
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,212 sqft
  • Baths : 4 full
Listing Agent

Highland Homes Realty

Listing Agent's Description

MLS# 14419050 - Built by Highland Homes - January completion! ~ 2 Story, 5 bdrms, 4 baths, family room, game room, entertainment, study, formal dining, ext. covered patio, 2 car garage Cul-de-sac Oversized lot! 10' ceilings-8' doors-1st floor, quartz countertops, white cabinets, gas cooktop, walk-in pantry, stone fireplace, vaulted ceilings, iron railing, luxury vinyl plank, bay window@master, carpet upgrade and 8' mahogany entry door

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
 

$417,414$510,172$463,793

PURCHASE PRICE

$2,187$2,673$2,430

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$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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 $2,430
EXPENSES Loan Payment -$1,711
Property Tax -$383
Property Insurance -$213
HOA -$42
Property Management Fees -$99
CASH FLOW
-$18

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.

$463,793

PROJECTED PRICE

$2,430

PROJECTED RENT

0.52%

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$124,905

INVESTMENT

$124,905

Down Payment
$115,948
Rehab Estimate
$2,000
Closing Costs
$6,957

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,711

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $115,948
Loan Amount $347,845
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$30,321

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,385

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,4303$2,4504$2,4505$2,550
$2,550
RENT COMPS ANALYSIS
  • 1602 Auburndale Wylie, TX 2
    • 5 beds 4 baths ∙ 3,212 Sqft ∙ Built 2020 5 beds 4 baths ∙ 3,212 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $0.76
    •  
  • 1322 Lake Trail Court Wylie, TX 1
    • 4 beds 3 baths ∙ 3,034 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,034 Sqft ∙ Built 2006
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.71
    •  
  • 1607 Saddle Ridge Drive Wylie, TX 3
    • 5 beds 3 baths ∙ 3,049 Sqft ∙ Built 2015 5 beds 3 baths ∙ 3,049 Sqft ∙ Built 2015
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.80
    •  
  • 420 Cedar Ridge Drive Wylie, TX 4
    • 5 beds 4 baths ∙ 3,430 Sqft ∙ Built 2018 5 beds 4 baths ∙ 3,430 Sqft ∙ Built 2018
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.71
    •  
  • 1608 Saddle Ridge Road Wylie, TX 5
    • 4 beds 4 baths ∙ 3,399 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,399 Sqft ∙ Built 2016
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.75
    •  
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 #: 14419050
Last Updated: 08/25/2020
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