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273 Southlake Drive Abilene, TX 79602

4 Beds 3 Baths 2,096 sqft Built 2014

$275,000

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $131.20
  • 3 Days on Market
  • MLS # : 14474884
  • Updated Date : 11/20/2020 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,096 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Newly painted grey interior walls, crown molding and dark, rich stained cabinets welcome you into this luxurious 4 bedroom, 2 and half bath home, in Wylie East ISD. Mudroom with stylish shiplap accent wall, hooks and cubbies for shoes. Barn doors, HUGE walk in master closet, separate vanities, make up area, walk in shower, and jetted corner tub. Stainless appliances, breakfast bar, ample cabinet space and counter tops, with built in wine rack. Spacious floor plan. Corner rock fireplace with wood mantle and wood laminate floors in living. Water softener. Sprinkler system, storage building, and nice wood fenced back yard. Highly desirable neighborhood! Schedule your appointment today!

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

Zip Code: 79602

ZipNIR Market*CityMarket2010Year2005 Q3201970k80k90k100k110k120k130k140k150k160k170k180kPrice in $66k189k

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

Zip Code: 79602

ZipNIR Market*CityMarket2015Year20112019 Q28509009501000105011001150120012501300Rent in $8171309

* 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
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,015
Property Tax -$592
Property Insurance -$147
HOA -$10
Property Management Fees -$99
CASH FLOW
$248

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.

$275,000

PROJECTED PRICE

$2,110

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 4.0%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$20,333

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,091

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,8953$1,9504$2,1105$2,150
$2,150
RENT COMPS ANALYSIS
  • 273 Southlake Drive Abilene, TX 4
    • 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $1.01
    •  
  • 7225 Raven Court Abilene, TX 1
    • 3 beds 2 baths ∙ 1,947 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,947 Sqft ∙ Built 2016
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.97
    •  
  • 301 Southlake Drive Abilene, TX 2
    • 4 beds 2 baths ∙ 1,947 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,947 Sqft ∙ Built 2014
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.97
    •  
  • 7210 Mcleod Drive Abilene, TX 3
    • 4 beds 2 baths ∙ 1,991 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,991 Sqft ∙ Built 2017
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.98
    •  
  • 7210 Raven Court Abilene, TX 5
    • 4 beds 2 baths ∙ 2,010 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,010 Sqft ∙ Built 2016
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.07
    •  
PROPERTY LISTING DETAILS
Karie Zonker
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14474884
Last Updated: 11/20/2020
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