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217 Tanglewood Drive Wylie, TX 75098

4 Beds 3 Baths 2,843 sqft Built 1998

$325,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $114.32
  • 6 Days on Market
  • MLS # : 14498449
  • Updated Date : 01/15/2021 at 14:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,843 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Fantastic hard to find home that includes inground heated gunite pool with spa and covered back patio! This home has numerous updates that include roof in 2016 and many windows, laminate flooring, front door, paint in various rooms. Creative brick walls in master and living room give this home a very unique feel! Granite in the kitchen and master, dual sinks in the large downstairs master as well as a secondary bedroom makes this home ideal for next gen families! Two bedrooms and 3rd living room or game room upstairs! The home is in need of carpet and garage door and seller is willing to make those concessions at closing!

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
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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,129
Property Tax -$672
Property Insurance -$191
Property Management Fees -$99
CASH FLOW
$108

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.

$325,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.68%

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

PROJECTED ANNUAL CASH FLOW

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

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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$22,527

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,203

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,2003$2,2954$2,3955$2,550
$2,550
RENT COMPS ANALYSIS
  • 217 Tanglewood Drive Wylie, TX 2
    • 4 beds 3 baths ∙ 2,843 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,843 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.77
    •  
  • 1100 Arthurs Court Wylie, TX 1
    • 4 beds 3 baths ∙ 2,578 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,578 Sqft ∙ Built 2008
    LEASED 10/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.74
    •  
  • 407 Woodhollow Drive Wylie, TX 3
    • 3 beds 3 baths ∙ 3,100 Sqft ∙ Built 1980 3 beds 3 baths ∙ 3,100 Sqft ∙ Built 1980
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.74
    •  
  • 310 Hawthorn Drive Wylie, TX 4
    • 4 beds 3 baths ∙ 3,043 Sqft ∙ Built 2016 4 beds 3 baths ∙ 3,043 Sqft ∙ Built 2016
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.79
    •  
  • 413 Rushcreek Drive Wylie, TX 5
    • 4 beds 4 baths ∙ 3,084 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,084 Sqft ∙ Built 2017
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.83
    •  
PROPERTY LISTING DETAILS
Chip Parmelly
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 #: 14498449
Last Updated: 01/15/2021
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