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2006 Water Fall Way Wylie, TX 75098

4 Beds 2 Baths 2,609 sqft Built 2004

$340,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $130.32
  • 4 Days on Market
  • MLS # : 14523855
  • Updated Date : 03/06/2021 at 21:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,609 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Fabulous hard to find one and half story 4 bedroom, 2 bath home. Amazing backyard oasis with views to multiple catch and release ponds and water features. Massive vaulted cedar covered patio perfect for entertaining added in 2019 . Hardwood floors in 2 story entry . BRAND NEW CARPET THOUGHOUT March 2021. Huge family room with fireplace. Formal dining room. Center island kitchen, Corian counters,42 inch cabinets. All bedrooms downstairs. Master suite with double sinks, jetted tub,& separate shower. Huge second story game room , with large screen and projector to remain. 2019 all new tilt in low E windows throughout with transferable warranty. 2 car garage, Some interior paint needed. Won't last long

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
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,181
Property Tax -$704
Property Insurance -$178
HOA -$31
Property Management Fees -$99
CASH FLOW
-$173

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.

$340,000

PROJECTED PRICE

$2,020

PROJECTED RENT

0.59%

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$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$4,335

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,015

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,845
1$1,8452$1,8953$1,9954$2,0205$2,475
$2,475
RENT COMPS ANALYSIS
  • 2006 Water Fall Way Wylie, TX 4
    • 4 beds 2 baths ∙ 2,609 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,609 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.77
    •  
  • 1303 Madison Drive Wylie, TX 1
    • 4 beds 3 baths ∙ 2,457 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,457 Sqft ∙ Built 2005
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.75
    •  
  • 1900 Eastfork Lane Wylie, TX 2
    • 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
    •  
  • 1510 Starpoint Lane Wylie, TX 3
    • 4 beds 3 baths ∙ 2,708 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,708 Sqft ∙ Built 1999
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.74
    •  
  • 1314 Windward Lane Wylie, TX 5
    • 4 beds 3 baths ∙ 2,708 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,708 Sqft ∙ Built 1997
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,475
    • $0.91
    •  
PROPERTY LISTING DETAILS
Susan Sine
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 #: 14523855
Last Updated: 03/06/2021
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