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2212 Parke View Drive Wylie, TX 75098

4 Beds 4 Baths 3,560 sqft Built 2010

$430,000

List Price

$2,590

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $120.79
  • 3 Days on Market
  • MLS # : 14536198
  • Updated Date : 03/20/2021 at 11:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,560 sqft
  • Baths : 3 full , 1 half
Listing Agent

Reputed Brokerage

Listing Agent's Description

BEAUTIFUL 4 BEDROOM, 3.1 BATH 2 STORY HOME ON A CORNER LOT IN SOUGHT AFTER WOODBRIDGE COMMUNITY. Office, Master bedroom and 2 Bedrooms downstairs. 4th Bedroom, Media room, & Game room on second floor. Huge Family room with large windows & gas log Fireplace. Kitchen with Gas Cooktop, Granite countertops, Island and casual dining. Large backyard with extended covered patio. Community offers pools, multiple parks, playgrounds, & lakes. Refrigerator, washer, dryer negotiable

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

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
Cheri Cox Elementary School Primary Regular 626 40 8
Grady Burnett Junior High School Middle Regular 725 43 9
Wylie East High School High Regular 1,718 109 8

Cheri Cox Elementary School

  • Education Level: Primary
  • # of students: 626
  • # 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
 

$387,000$473,000$430,000

PURCHASE PRICE

$2,331$2,849$2,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,590
EXPENSES Loan Payment -$1,494
Property Tax -$890
Property Insurance -$233
HOA -$40
Property Management Fees -$99
CASH FLOW
-$165

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.

$430,000

PROJECTED PRICE

$2,590

PROJECTED RENT

0.60%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,700

INVESTMENT

$119,700

Down Payment
$107,500
Rehab Estimate
$5,750
Closing Costs
$6,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,494

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,500
Loan Amount $322,500
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$7,702

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,590

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,786

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5903$2,9004$2,9005$3,045
$3,045
RENT COMPS ANALYSIS
  • 2212 Parke View Drive Wylie, TX 2
    • 4 beds 4 baths ∙ 3,560 Sqft ∙ Built 2010 4 beds 4 baths ∙ 3,560 Sqft ∙ Built 2010
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $0.73
    •  
  • 505 Highland Fairway Lane Wylie, TX 1
    • 4 beds 3 baths ∙ 3,268 Sqft ∙ Built 2012 4 beds 3 baths ∙ 3,268 Sqft ∙ Built 2012
    property image
    LEASED 01/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.76
    •  
  • 7823 Meadow Glen Drive Sachse, TX 3
    • 5 beds 4 baths ∙ 3,575 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,575 Sqft ∙ Built 2006
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.81
    •  
  • 135 Turks Cap Trail Wylie, TX 4
    • 5 beds 5 baths ∙ 3,725 Sqft ∙ Built 2018 5 beds 5 baths ∙ 3,725 Sqft ∙ Built 2018
    property image
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.78
    •  
  • 6312 Lakecrest Drive Sachse, TX 5
    • 5 beds 4 baths ∙ 3,894 Sqft ∙ Built 2013 5 beds 4 baths ∙ 3,894 Sqft ∙ Built 2013
    property image
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,045
    • $0.78
    •  
PROPERTY LISTING DETAILS
Rashmi Nigam
Reputed Brokerage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14536198
Last Updated: 03/20/2021
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