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1917 Bishop Barrel Lane Wylie, TX 75098

4 Beds 3 Baths 2,514 sqft Built 2016

$400,000

List Price

$2,520

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $159.11
  • 3 Days on Market
  • MLS # : 14493971
  • Updated Date : 01/08/2021 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,514 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Beautifully UPGRADED and well-maintained single story HIGHLAND home waits for you! It is within walking distance to Bush Elementary, and located in the award-winning Inspiration, which boasts 5 pools, lazy river, state-of-the-art fitness center, dog park, sand volleyball, putting green, and MORE! This open floor plan includes wood flooring in main areas and upgraded carpet in bedrooms and Study. Kitchen boasts white cabinetry and quartz countertops with stainless steel appliances. Stone fireplace, ceiling fans, 2inch blinds, mud bench, epoxy garage floor, smart home features.. all the details are done! Minutes away from Lake Lavon & Collin Park Marina * Special Financing & Virtual Tour Available.

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
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
 

$360,000$440,000$400,000

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 -$1,389
Property Tax -$828
Property Insurance -$172
HOA -$90
Property Management Fees -$99
CASH FLOW
-$58

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.

$400,000

PROJECTED PRICE

$2,520

PROJECTED RENT

0.63%

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$12,807

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
  • $1

    LIST RENT PER SQFT
  • $2,495

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,3003$2,4954$2,5205$2,650
$2,650
RENT COMPS ANALYSIS
  • 1917 Bishop Barrel Lane Wylie, TX 4
    • 4 beds 3 baths ∙ 2,514 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,514 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,520
    • $1.00
    •  
  • 1831 Pacific Pearl Lane St. Paul, TX 1
    • 3 beds 2 baths ∙ 2,236 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,236 Sqft ∙ Built 2018
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.96
    •  
  • 1905 Bishop Barrel Lane St. Paul, TX 2
    • 3 beds 3 baths ∙ 2,215 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,215 Sqft ∙ Built 2017
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.04
    •  
  • 1718 Indigo Creek Lane Wylie, TX 3
    • 4 beds 3 baths ∙ 2,503 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,503 Sqft ∙ Built 2018
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.00
    •  
  • 2008 Prestige Cove Court St. Paul, TX 5
    • 5 beds 3 baths ∙ 2,744 Sqft ∙ Built 2017 5 beds 3 baths ∙ 2,744 Sqft ∙ Built 2017
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.97
    •  
PROPERTY LISTING DETAILS
Seth Mills
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14493971
Last Updated: 01/08/2021
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