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1649 Smith Drive Abilene, TX 79601

3 Beds 2 Baths 1,818 sqft Built 2000

$200,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $110.01
  • 2 Days on Market
  • MLS # : 14457027
  • Updated Date : 11/20/2020 at 17:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,818 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservices Stovall, Realtors

Listing Agent's Description

This house is perfect for you! Close to Abilene Christian University and Hwy 20. The large backyard is great for entertaining in the summer, and the living room features a fireplace to warm you up during those cool winter months. You'll feel like a queen with the master suite, two sinks, and a large walk-in closet <3 This street is tucked away, so you'll feel like you are in a sleepy little town, but you are close to ALL the things. Make an appointment to see it, and you won't be sorry!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Neighborhood: Abilene Heights Area

NeighborhoodNIR Market*CityMarket2010Year2005 Q3201970k80k90k100k110k120k130k140k150kPrice in $66k158k

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

Neighborhood: Abilene Heights Area

NeighborhoodNIR Market*CityMarket2015Year20112019 Q28509009501000105011001150120012501300Rent in $8171325

* 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
Taylor Elementary School Primary Regular 600 34 5
Craig Middle School Middle Regular 911 61 4
Abilene High School High Regular 1,925 131 4

Taylor Elementary School

  • Education Level: Primary
  • # of students: 600
  • # of teachers: 34
5
GreatSchools Rating

Craig Middle School

  • Education Level: Middle
  • # of students: 911
  • # of teachers: 61
4
GreatSchools Rating

Abilene High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 131
4
GreatSchools Rating
 

$180,000$220,000$200,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$738
Property Tax -$431
Property Insurance -$131
Property Management Fees -$99
CASH FLOW
$202

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 18% of earned rent to cover both maintenance and periods of vacancy.

$200,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 5.0%
Maintenance Year (1-5) 8.00%
Vacancy 9.90%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

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$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $50,000
Loan Amount $150,000
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$16,072

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,700

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4953$1,4954$1,5005$1,600
$1,600
RENT COMPS ANALYSIS
  • 1649 Smith Drive Abilene, TX 5
    • 3 beds 2 baths ∙ 1,818 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,818 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.88
    •  
  • 2133 Boston Road Abilene, TX 1
    • 3 beds 2 baths ∙ 1,481 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,481 Sqft ∙ Built 2003
    LEASED 11/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.94
    •  
  • 2319 Independence Boulevard Abilene, TX 2
    • 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 2006
    LEASED 07/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.92
    •  
  • 3165 Beacon Hill Road Abilene, TX 3
    • 4 beds 2 baths ∙ 1,536 Sqft ∙ Built 1986 4 beds 2 baths ∙ 1,536 Sqft ∙ Built 1986
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.97
    •  
  • 1642 Morrow Lane Abilene, TX 4
    • 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 2003
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.91
    •  
PROPERTY LISTING DETAILS
Abby Speed
Berkshire Hathaway Homeservices Stovall, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14457027
Last Updated: 11/20/2020
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