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1708 Long Meadow Road Wylie, TX 75098

4 Beds 3 Baths 2,114 sqft Built 2017

$350,000

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $165.56
  • 3 Days on Market
  • MLS # : 14492667
  • Updated Date : 01/02/2021 at 22:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,114 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Central

Listing Agent's Description

Open House Jan 3! Beautiful Highland Home with 4 spacious bedrooms and 3 FULL baths. Open concept kitchen with large center granite topped island, gas range, stainless steel appliances. Open central living room with gas log focal point fireplace. Owners suite with dual sinks, soaking tub and separate shower. Plenty of storage, closet and cabinet space throughout the home! Energy efficient home with tankless water heater, rad. barrier. LOW UTILITIES. Ample back yard with plenty of room for pets, pool, playsets, extended patio! A RATED Wylie Schools! Bozman Farms is a great place to call home with creek side parks, pools, lake and fishing pier.

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

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
 

$315,000$385,000$350,000

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 -$1,291
Property Tax -$724
Property Insurance -$149
HOA -$42
Property Management Fees -$99
CASH FLOW
-$346

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.

$350,000

PROJECTED PRICE

$1,960

PROJECTED RENT

0.56%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$994

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
  • $0.93

    LIST RENT PER SQFT
  • $1,924

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9503$1,9504$1,9605$2,150
$2,150
RENT COMPS ANALYSIS
  • 1708 Long Meadow Road Wylie, TX 4
    • 4 beds 3 baths ∙ 2,114 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,114 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.93
    •  
  • 1619 Roberts Ravine Road Wylie, TX 1
    • 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 2015
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.85
    •  
  • 1315 Hill View Trail Wylie, TX 2
    • 4 beds 2 baths ∙ 2,149 Sqft ∙ Built 2012 4 beds 2 baths ∙ 2,149 Sqft ∙ Built 2012
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.91
    •  
  • 1313 Cedar Branch Drive Wylie, TX 3
    • 3 beds 3 baths ∙ 2,064 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,064 Sqft ∙ Built 2005
    property image
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.94
    •  
  • 1708 Meadowleaf Lane Wylie, TX 5
    • 4 beds 2 baths ∙ 2,296 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,296 Sqft ∙ Built 2017
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.94
    •  
PROPERTY LISTING DETAILS
Anne Kirkman
Keller Williams Central
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14492667
Last Updated: 01/02/2021
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