Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

205 Grassy Creek Drive Wylie, TX 75098

4 Beds 3 Baths 2,099 sqft Built 2000

$315,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $150.07
  • 6 Days on Market
  • MLS # : 14519008
  • Updated Date : 03/02/2021 at 19:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,099 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin Corporation

Listing Agent's Description

MULTIPLE OFFERS. HIGHEST & BEST OFFER DEADLINE @ 5PM ON MARCH 3RD. Well maintained 4 bedrooms, 2.5 baths two-story home. Filled with natural light, soaring ceilings, updated engineered floors throughout downstairs, and updated carpet upstairs. The kitchen boasts a gas range, granite countertop, walk-in pantry, & ample cabinetry for storage. All bedrooms are upstairs. Spacious primary en suite features dual vanity, separate shower, garden tub, and walk-in closet. Additional living area downstairs can be used as a formal dining area or family room. Private backyard with covered patio. Great community amenities including basketball court and playground. HVAC has 9 years remaining on the warranty for the equipment.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

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
R.v.groves Elementary School Primary Regular 632 40 9
Wylie High School High Regular 2,061 127 9

R.v.groves Elementary School

  • Education Level: Primary
  • # of students: 632
  • # of teachers: 40
9
GreatSchools Rating

Wylie High School

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

$283,500$346,500$315,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,094
Property Tax -$652
Property Insurance -$149
HOA -$25
Property Management Fees -$99
CASH FLOW
-$168

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.

$315,000

PROJECTED PRICE

$1,850

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

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$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,788

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,942

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,8004$1,8505$1,950
$1,950
RENT COMPS ANALYSIS
  • 205 Grassy Creek Drive Wylie, TX 4
    • 4 beds 3 baths ∙ 2,099 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,099 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.88
    •  
  • 202 Trenton Drive Wylie, TX 1
    • 4 beds 2 baths ∙ 1,947 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,947 Sqft ∙ Built 2001
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.90
    •  
  • 2707 Sugar Maple Drive Wylie, TX 2
    • 3 beds 2 baths ∙ 1,934 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,934 Sqft ∙ Built 2003
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
  • 204 Waterwood Drive Wylie, TX 3
    • 4 beds 2 baths ∙ 1,900 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,900 Sqft ∙ Built 2001
    LEASED 02/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.95
    •  
  • 2807 Sequoia Lane Wylie, TX 5
    • 4 beds 2 baths ∙ 2,109 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,109 Sqft ∙ Built 2004
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.92
    •  
PROPERTY LISTING DETAILS
Gena Campbell
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14519008
Last Updated: 03/02/2021
BESbswy