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1903 Stonecrest Trail Wylie, TX 75098

4 Beds 3 Baths 3,070 sqft Built 2003

$500,000

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $162.87
  • 2 Days on Market
  • MLS # : 14505164
  • Updated Date : 01/23/2021 at 18:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,070 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

This GORGEOUS two story treasure is one of a kind, sitting on just under an half acre in a gated community! The first level boasts an open concept with BEAUTIFUL hardwoods, grand entry, fireplace, an exceptional kitchen, formal dining and study as well as a bedroom and and full bath. The second level offers two secondary bedrooms with full bath and walk in closets. Master suite presents a sophisticated design with a newly renovated, luxurious bathroom and a HUGE master closet. Lush landscaping, the back yard features covered back patio, an outdoor kitchen, a Luxury Resort Style fresh water swimming pool, great for entertaining your guests. This home truly amazing! Buyer and buyer agent to verify all info.

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

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
Rita Smith Elementary School Primary Regular 624 38 9
Frank Mcmillan Junior High School Middle Regular 656 43 10
Wylie High School High Regular 2,061 127 9

Rita Smith Elementary School

  • Education Level: Primary
  • # of students: 624
  • # of teachers: 38
9
GreatSchools Rating

Frank Mcmillan Junior High School

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

Wylie High School

  • Education Level: High
  • # of students: 2,061
  • # of teachers: 127
9
GreatSchools Rating
 

$450,000$550,000$500,000

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,737
Property Tax -$1,035
Property Insurance -$205
HOA -$23
Property Management Fees -$99
CASH FLOW
-$778

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.

$500,000

PROJECTED PRICE

$2,320

PROJECTED RENT

0.46%

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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,737

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $125,000
Loan Amount $375,000
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

$1

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,326

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9503$2,3204$2,4505$2,500
$2,500
RENT COMPS ANALYSIS
  • 1903 Stonecrest Trail Wylie, TX 3
    • 4 beds 3 baths ∙ 3,070 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,070 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $0.76
    •  
  • 1900 Eastfork Lane Wylie, TX 1
    • 3 beds 3 baths ∙ 2,765 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,765 Sqft ∙ Built 2004
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.69
    •  
  • 1809 Eastfork Lane Wylie, TX 2
    • 4 beds 3 baths ∙ 2,825 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,825 Sqft ∙ Built 2002
    LEASED 09/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.69
    •  
  • 2905 Midstream Drive Wylie, TX 4
    • 4 beds 3 baths ∙ 2,996 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,996 Sqft ∙ Built 2006
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.82
    •  
  • 3024 Hinnant Drive Wylie, TX 5
    • 5 beds 4 baths ∙ 2,997 Sqft ∙ Built 2006 5 beds 4 baths ∙ 2,997 Sqft ∙ Built 2006
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.83
    •  
PROPERTY LISTING DETAILS
Stacie Noble
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14505164
Last Updated: 01/23/2021
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