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29 Santa Monica Circle Wylie, TX 75098

3 Beds 3 Baths 2,512 sqft Built 1986

$410,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $163.22
  • 7 Days on Market
  • MLS # : 14505895
  • Updated Date : 01/27/2021 at 18:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,512 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bryan Bjerke

Listing Agent's Description

Updated home in located in the desirable Seis Lagos community, the perfect location to enjoy the country yet still close enough to the city. Huge lot with mature trees. Large living room with vaulted ceiling. Large windows providing tons of natural light. A huge updated kitchen with stainless steel appliances. Breakfast area looks out to the back yard. The bedroom has tripled tiered ceiling. Updated master bathroom with skylights and jetted tub. Welcome to your new home! MULTIPLE OFFERS RECEIVED. BEST AND FINAL DUE SUNDAY 1-31 AT 8PM

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
Rita Smith Elementary School Primary Regular 624 38 9
Frank Mcmillan Junior High School Middle Regular 656 43 10
Wylie High School High Regular 2,061 127 9

Rita Smith Elementary School

  • Education Level: Primary
  • # of students: 624
  • # of teachers: 38
9
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
 

$369,000$451,000$410,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,424
Property Tax -$710
Property Insurance -$172
HOA -$120
Property Management Fees -$99
CASH FLOW
-$305

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.

$410,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.54%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$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$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,424

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,379

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,859

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8953$1,9504$1,9755$2,220
$2,220
RENT COMPS ANALYSIS
  • 29 Santa Monica Circle Wylie, TX 5
    • 3 beds 3 baths ∙ 2,512 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,512 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.88
    •  
  • 1910 Water Fall Way Wylie, TX 1
    • 4 beds 3 baths ∙ 2,253 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,253 Sqft ∙ Built 2002
    LEASED 08/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.80
    •  
  • 1900 Eastfork Lane Wylie, TX 2
    • 3 beds 3 baths ∙ 2,765 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,765 Sqft ∙ Built 2004
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.69
    •  
  • 1809 Eastfork Lane Wylie, TX 3
    • 4 beds 3 baths ∙ 2,825 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,825 Sqft ∙ Built 2002
    LEASED 09/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.69
    •  
  • 1808 Eastfork Lane Wylie, TX 4
    • 4 beds 3 baths ∙ 2,536 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,536 Sqft ∙ Built 2002
    LEASED 08/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.78
    •  
PROPERTY LISTING DETAILS
Bryan Nguyen
Bryan Bjerke
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14505895
Last Updated: 01/27/2021
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