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2806 Sutters Mill Way Wylie, TX 75098

3 Beds 2 Baths 1,630 sqft Built 2003

$250,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $153.37
  • 4 Days on Market
  • MLS # : 14495136
  • Updated Date : 01/07/2021 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,630 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Frisco Stars

Listing Agent's Description

Beautiful move in ready home! New updates include AC, interior paint, exterior paint, and flooring. Wood look floors adorn the entry, halls, beds, and family room. Gourmet kitchen with tile floors, granite, stainless apps, and large pantry. Master suite is perfect for king size furniture. Master bath with dual sinks, separate shower, and garden tub. Large backyard is perfect for outdoor living and entertaining. This home is a MUST SEE!

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: 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
Grady Burnett Junior High School Middle Regular 725 43 9
Wylie East High School High Regular 1,718 109 8

A.b. Harrison Intermediate School

  • Education Level: Primary
  • # of students: 658
  • # of teachers: 39
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
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$868
Property Tax -$517
Property Insurance -$121
Property Management Fees -$99
CASH FLOW
-$6

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.

$250,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.64%

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$900k

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$10,592

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,712

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6003$1,6954$1,6955$1,695
$1,695
RENT COMPS ANALYSIS
  • 2806 Sutters Mill Way Wylie, TX 2
    • 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.98
    •  
  • 1203 Sheppard Lane Wylie, TX 1
    • 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1986
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.08
    •  
  • 2706 Gold Hill Drive Wylie, TX 3
    • 3 beds 2 baths ∙ 1,609 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,609 Sqft ∙ Built 2004
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.05
    •  
  • 1401 London Drive Wylie, TX 4
    • 4 beds 2 baths ∙ 1,542 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,542 Sqft ∙ Built 1994
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.10
    •  
  • 1407 Old Knoll Drive Wylie, TX 5
    • 3 beds 2 baths ∙ 1,743 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,743 Sqft ∙ Built 1993
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.97
    •  
PROPERTY LISTING DETAILS
Leonard Mcmanaman
Keller Williams Frisco Stars
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14495136
Last Updated: 01/07/2021
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