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242 Winchester Street Tuscola, TX 79562

4 Beds 2 Baths 2,230 sqft Built 2008

$310,000

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $139.01
  • 2 Days on Market
  • MLS # : 14495233
  • Updated Date : 01/09/2021 at 22:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,230 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

REMINGTON ESTATES, well cared for home with all of the features on your wish list. Close to Abilene, Wylie schools, outside of City limits, 4 beds or 3 beds and an office. Large living room with electric fireplace. Superb master suite with sitting area, luxurious jetted tub, steam shower, walk in closets. Escape the world or entertain friends in the very private, beautiful back yard. Inground Gunnite pool with lots of accessory toys like basketball net, self-cleaning system, umbrellas, fountains, 12 inch deep sundeck, and more. Multiple seating areas for guests, separate hot tub. Separate fenced area with storage building and room to park RV's or Big kids toys. Large wide driveway. WILL NOT DISAPPOINT!

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: 79562

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $78k264k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 79562

ZipNIR Market*CityMarket2015Year20112019 Q2900100011001200130014001500160017001800Rent in $8341813

* 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
Wylie Intermediate School Primary Regular 618 34 8
Wylie Junior High School Middle Regular 625 37 9
Wylie High School High Regular 1,026 67 8

Wylie Intermediate School

  • Education Level: Primary
  • # of students: 618
  • # of teachers: 34
8
GreatSchools Rating

Wylie Junior High School

  • Education Level: Middle
  • # of students: 625
  • # of teachers: 37
9
GreatSchools Rating

Wylie High School

  • Education Level: High
  • # of students: 1,026
  • # of teachers: 67
8
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,077
Property Tax -$468
Property Insurance -$154
HOA -$12
Property Management Fees -$99
CASH FLOW
$180

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 18% of earned rent to cover both maintenance and periods of vacancy.

$310,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 3.6%
Maintenance Year (1-5) 8.00%
Vacancy 9.90%
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$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$15,663

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,977

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7953$1,8954$1,990
$1,990
RENT COMPS ANALYSIS
  • 242 Winchester Street Tuscola, TX 4
    • 4 beds 2 baths ∙ 2,230 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,230 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.89
    •  
  • 226 Derringer Street Tuscola, TX 1
    • 3 beds 2 baths ∙ 2,002 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,002 Sqft ∙ Built 2006
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.85
    •  
  • 209 Derringer Street Tuscola, TX 2
    • 3 beds 2 baths ∙ 2,070 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,070 Sqft ∙ Built 2007
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.87
    •  
  • 173 White Tail Drive Tuscola, TX 3
    • 3 beds 2 baths ∙ 2,008 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,008 Sqft ∙ Built 2007
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.94
    •  
PROPERTY LISTING DETAILS
Kelli Kish
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 #: 14495233
Last Updated: 01/09/2021
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