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1615 Wavecrest Drive Glenn Heights, TX 75154

4 Beds 3 Baths 1,879 sqft Built 2005

$215,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $114.42
  • 5 Days on Market
  • MLS # : 14486269
  • Updated Date : 12/15/2020 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,879 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams No. Collin Cty

Listing Agent's Description

Recently updated 2 story 4 bed, 2.5 bath on a cul-de-sac with plenty of space in the backyard. New ceramic tile floors. Light and bright kitchen with lots of windows for natural light. Ample space in the front yard. House recently painted with updated granite countertops. Stainless steel kitchen appliances. Traditional bathrooms with upstairs master bedroom! Newly Installed carpet. Vacant house ready to be moved into!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Heritage Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Heritage Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Frank D. Moates Elementary School Primary Regular 641 39 4
Curtistene S Mccowan Middle School Middle Regular 846 52 2

Frank D. Moates Elementary School

  • Education Level: Primary
  • # of students: 641
  • # of teachers: 39
4
GreatSchools Rating

Curtistene S Mccowan Middle School

  • Education Level: Middle
  • # of students: 846
  • # of teachers: 52
2
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$793
Property Tax -$542
Property Insurance -$136
HOA -$17
Property Management Fees -$99
CASH FLOW
$123

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.

$215,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$20,873

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,682

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,599
1$1,5992$1,6953$1,6994$1,7105$1,750
$1,750
RENT COMPS ANALYSIS
  • 1615 Wavecrest Drive Glenn Heights, TX 4
    • 4 beds 3 baths ∙ 1,879 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,879 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.91
    •  
  • 232 Tulane Drive Glenn Heights, TX 1
    • 4 beds 2 baths ∙ 1,857 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,857 Sqft ∙ Built 1998
    property image
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.86
    •  
  • 238 Stanford Drive Glenn Heights, TX 2
    • 4 beds 2 baths ∙ 1,878 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,878 Sqft ∙ Built 2000
    property image
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.90
    •  
  • 1709 Citadel Drive Glenn Heights, TX 3
    • 3 beds 2 baths ∙ 1,897 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,897 Sqft ∙ Built 1999
    property image
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.90
    •  
  • 1901 Berkeley Drive Glenn Heights, TX 5
    • 3 beds 2 baths ∙ 1,897 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,897 Sqft ∙ Built 2000
    property image
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.92
    •  
PROPERTY LISTING DETAILS
David Ike
Keller Williams No. Collin Cty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14486269
Last Updated: 12/15/2020
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