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1806 Stephen Drive Wylie, TX 75098

4 Beds 3 Baths 2,399 sqft Built 2016

$325,000

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $135.47
  • 5 Days on Market
  • MLS # : 14461523
  • Updated Date : 10/30/2020 at 23:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,399 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

Fabulous home in Bozman Farm Estates. Wylie schools. Main bedroom downstairs with garden tub, separate tiled shower, dual sinks and huge closet! Open floor plan with wood flooring throughout living, dining and kitchen areas. Stone-brick finish on gas start fireplace. Kitchen features granite countertops with undercount sink, stainless appliances include gas range oven-cooktop, microwave, dishwasher AND refrigerator! Upstairs you will find a 2nd living area, 3 large bedrooms and full bath. Whole house surge protection installed. Keyless locks on front and back doors controlled remotely. 2 desks in 2nd bedroom can remain, perfect for office or study. Oversized 2 car garage and huge grassy backyard!

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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,199
Property Tax -$672
Property Insurance -$166
HOA -$42
Property Management Fees -$99
CASH FLOW
-$188

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.

$325,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.61%

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-$6.0k-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

1.75

YEARS SAVED

$4,659

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,973

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,843
1$1,8432$1,9003$1,9904$1,9955$2,200
$2,200
RENT COMPS ANALYSIS
  • 1806 Stephen Drive Wylie, TX 3
    • 4 beds 3 baths ∙ 2,399 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,399 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.83
    •  
  • 2807 Sutters Mill Way Wylie, TX 1
    • 4 beds 3 baths ∙ 2,294 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,294 Sqft ∙ Built 2002
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,843
    • $0.80
    •  
  • 1619 Roberts Ravine Road Wylie, TX 2
    • 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 2015
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.85
    •  
  • 1222 Iron Horse Street Wylie, TX 4
    • 4 beds 3 baths ∙ 2,547 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,547 Sqft ∙ Built 2006
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.78
    •  
  • 1709 Oak Glen Drive Wylie, TX 5
    • 3 beds 3 baths ∙ 2,568 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,568 Sqft ∙ Built 2013
    LEASED 07/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.86
    •  
PROPERTY LISTING DETAILS
Brooke S Hunt
Keller Williams Realty-fm
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14461523
Last Updated: 10/30/2020
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