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2228 Possum Fire Trail Wylie, TX 75098

4 Beds 3 Baths 2,337 sqft Built 2020

INVESTimate

$422,143

List Price

$2,060

$1,854 - $2,266

Rent Est.

$459,503  ( +8.85%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $180.63
  • 2 Days on Market
  • MLS # : 14420764
  • Updated Date : 08/25/2020 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,337 sqft
  • Baths : 3 full
Listing Agent

Highland Homes Realty

Listing Agent's Description

MLS# 14420764 - Built by Highland Homes - January completion! ~ Located next to green park area with contemporary kitchen with white cabinets, gas cooktop and built-in microwave-oven with walk-in pantry, extended covered patio, tall ceilings, and windows, master with bay window and garden tub with separate shower and walk-in closet, direct vent fireplace, split bedrooms for added privacy.

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
A.b. Harrison Intermediate School Primary Regular 658 39 8
Frank Mcmillan Junior High School Middle Regular 656 43 10
Wylie High School High Regular 2,061 127 9

A.b. Harrison Intermediate School

  • Education Level: Primary
  • # of students: 658
  • # of teachers: 39
8
GreatSchools Rating

Frank Mcmillan Junior High School

  • Education Level: Middle
  • # of students: 656
  • # of teachers: 43
10
GreatSchools Rating

Wylie High School

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

$379,929$464,357$422,143

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

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$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,558
Property Tax -$352
Property Insurance -$162
HOA -$82
Property Management Fees -$99
CASH FLOW
-$192

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$422,143

PROJECTED PRICE

$2,060

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.85%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$113,868

INVESTMENT

$113,868

Down Payment
$105,536
Rehab Estimate
$2,000
Closing Costs
$6,332

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,558

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $105,536
Loan Amount $316,607
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$13,391

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,022

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8953$1,9994$2,0605$2,200
$2,200
RENT COMPS ANALYSIS
  • 2228 Possum Fire Trail Wylie, TX 4
    • 4 beds 3 baths ∙ 2,337 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,337 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.88
    •  
  • 1304 Scottsdale Drive Wylie, TX 1
    • 4 beds 2 baths ∙ 2,088 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,088 Sqft ∙ Built 2001
    property image
    LEASED 04/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.86
    •  
  • 1615 Hightimber Lane Wylie, TX 2
    • 4 beds 2 baths ∙ 2,163 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,163 Sqft ∙ Built 2001
    property image
    LEASED 05/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.88
    •  
  • 1605 Redcedar Drive Wylie, TX 3
    • 4 beds 2 baths ∙ 2,235 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,235 Sqft ∙ Built 2003
    property image
    LEASED 05/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.89
    •  
  • 1823 Pacific Pearl Lane Wylie, TX 5
    • 3 beds 3 baths ∙ 2,651 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,651 Sqft ∙ Built 2017
    property image
    LEASED 07/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.83
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Highland Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14420764
Last Updated: 08/25/2020
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