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1826 Morning Mist Way St. Paul, TX 75098

4 Beds 3 Baths 2,973 sqft Built 2015

$389,900

List Price

$2,520

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $131.15
  • 2 Days on Market
  • MLS # : 14467683
  • Updated Date : 11/07/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,973 sqft
  • Baths : 3 full
Listing Agent

Avignon Realty

Listing Agent's Description

INSPIRATION COMMUNITY IN WYLIE,TX! Lovely 4 bedroom,3.5 bath,2 car garage two story home with classy exterior elevation. 8 foot entry door leading to stunning foyer! Featuring 4BR, 3BTH + 2CAR garage+ Fireplace + Awesome Media Room + White Cabinetry + Wood & Tile & Carpet Flooring + Covered Patio & Nice Backyard View + Study(Den). Open concept layout with stainless steel appliances, stylish counters, gorgeous fireplace, 42 inch upper cabinets & beautiful upgraded backsplash in kitchen. Fireplace in gathering room and second flor with game room area.... and much more!

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*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k399k

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

Zip Code: 75098

ZipNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262302

* 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
Frank Mcmillan Junior High School Middle Regular 656 43 10
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

Frank Mcmillan Junior High School

  • Education Level: Middle
  • # of students: 656
  • # of teachers: 43
10
GreatSchools Rating

Wylie East High School

  • Education Level: High
  • # of students: 1,718
  • # of teachers: 109
8
GreatSchools Rating
 

$350,910$428,890$389,900

PURCHASE PRICE

$2,268$2,772$2,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,520
EXPENSES Loan Payment -$1,439
Property Tax -$906
Property Insurance -$199
HOA -$82
Property Management Fees -$99
CASH FLOW
-$204

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.

$389,900

PROJECTED PRICE

$2,520

PROJECTED RENT

0.65%

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$6.0k$8.0k

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$109,074

INVESTMENT

$109,074

Down Payment
$97,475
Rehab Estimate
$5,750
Closing Costs
$5,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,475
Loan Amount $292,425
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,651

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,520

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,497

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,5203$2,6004$2,6005$2,600
$2,600
RENT COMPS ANALYSIS
  • 1826 Morning Mist Way St. Paul, TX 2
    • 4 beds 4 baths ∙ 2,973 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,973 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,520
    • $0.85
    •  
  • 1823 Pacific Pearl Lane Wylie, TX 1
    • 3 beds 3 baths ∙ 2,651 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,651 Sqft ∙ Built 2017
    LEASED 07/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.83
    •  
  • 2019 Silent Shore Street Wylie, TX 3
    • 4 beds 3 baths ∙ 3,013 Sqft ∙ Built 2016 4 beds 3 baths ∙ 3,013 Sqft ∙ Built 2016
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.86
    •  
  • 2120 Harmony Pier Lane Wylie, TX 4
    • 4 beds 3 baths ∙ 3,169 Sqft ∙ Built 2016 4 beds 3 baths ∙ 3,169 Sqft ∙ Built 2016
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.82
    •  
  • 1719 Indigo Creek Lane Wylie, TX 5
    • 4 beds 4 baths ∙ 3,072 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,072 Sqft ∙ Built 2018
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.85
    •  
PROPERTY LISTING DETAILS
Jimmy Lee
Avignon Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467683
Last Updated: 11/07/2020
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