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2014 Fair Highlands Trail Wylie, TX 75098

4 Beds 3 Baths 2,696 sqft Built 2005

$335,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $124.26
  • 2 Days on Market
  • MLS # : 14491469
  • Updated Date : 01/02/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,696 sqft
  • Baths : 2 full , 1 half
Listing Agent

United Real Estate

Listing Agent's Description

LOCATION, LOCATION, LOCATION....Woodbridge Beauty with spacious, open floor plan! First floor features study and formal dining with kitchen and breakfast room open to cozy family room. Kitchen has dishwasher refrigerator, and features 4 burner gas cooktop. Oversized laundry room and large pantry offer great storage. Second floor has split bedroom plan with master separate, remaining bedrooms situated for privacy. Large game room! Covered patio off kitchen for easy outdoor cooking.

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

Neighborhood: Woodbridge

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Woodbridge

NeighborhoodNIR 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
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,236
Property Tax -$693
Property Insurance -$183
HOA -$46
Property Management Fees -$99
CASH FLOW
-$157

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.

$335,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.4%
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$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$6,671

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,258

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1503$2,1504$2,2005$2,375
$2,375
RENT COMPS ANALYSIS
  • 2014 Fair Highlands Trail Wylie, TX 1
    • 4 beds 3 baths ∙ 2,696 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,696 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.78
    •  
  • 1912 Grand Fairway Drive Wylie, TX 2
    • 3 beds 3 baths ∙ 2,562 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,562 Sqft ∙ Built 2009
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.84
    •  
  • 313 Highland Fairway Lane Wylie, TX 3
    • 4 beds 3 baths ∙ 2,501 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,501 Sqft ∙ Built 2009
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.86
    •  
  • 423 Fairland Drive Wylie, TX 4
    • 4 beds 2 baths ∙ 2,657 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,657 Sqft ∙ Built 2007
    property image
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.83
    •  
  • 2004 E Fairway Winds Court Wylie, TX 5
    • 4 beds 3 baths ∙ 2,895 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,895 Sqft ∙ Built 2012
    property image
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.82
    •  
PROPERTY LISTING DETAILS
Alex Abebe
United Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14491469
Last Updated: 01/02/2021
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