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218 Lake Travis Drive Wylie, TX 75098

3 Beds 2 Baths 1,234 sqft Built 2002

$230,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $186.39
  • 3 Days on Market
  • MLS # : 14522043
  • Updated Date : 02/26/2021 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,234 sqft
  • Baths : 2 full
Listing Agent

Mike Mazyck Realty

Listing Agent's Description

Lovely three bedroom two bath home in a great neighborhood. The spacious living area has a wood burning fireplace and opens to the dining area and kitchen with breakfast bar. Master suite featuring a master bath with garden tub and a separate shower. Nicely sized bedrooms. Backyard with a wood privacy fence.

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

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
Watkins Elementary School Primary Regular 609 40 8
Grady Burnett Junior High School Middle Regular 725 43 9
Wylie East High School High Regular 1,718 109 8

Watkins Elementary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 40
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
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$799
Property Tax -$476
Property Insurance -$99
Property Management Fees -$99
CASH FLOW
-$22

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.

$230,000

PROJECTED PRICE

$1,450

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$8,770

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $1,330

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5503$1,6754$1,6755$1,675
$1,675
RENT COMPS ANALYSIS
  • 218 Lake Travis Drive Wylie, TX 1
    • 3 beds 2 baths ∙ 1,234 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,234 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.18
    •  
  • 608 Dielman Drive Wylie, TX 2
    • 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 2006
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.05
    •  
  • 612 E Oak Street Wylie, TX 3
    • 3 beds 2 baths ∙ 1,566 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,566 Sqft ∙ Built 1984
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.07
    •  
  • 612 Fleming Street Wylie, TX 4
    • 3 beds 3 baths ∙ 1,557 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,557 Sqft ∙ Built 2005
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.08
    •  
  • 104 Silvercreek Drive Wylie, TX 5
    • 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 1998
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.11
    •  
PROPERTY LISTING DETAILS
Mike Mazyck
Mike Mazyck Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14522043
Last Updated: 02/26/2021
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