Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2919 Holly Lane Wylie, TX 75098

3 Beds 2 Baths 1,892 sqft Built 2006

$282,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $149.05
  • 6 Days on Market
  • MLS # : 14491681
  • Updated Date : 12/29/2020 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,892 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Allen

Listing Agent's Description

Beautiful home in Sage Creek w outstanding community amenities will impress. Foyer features wood floors which extend to dining, living & family room. Kitchen has spacious counters, nice cabinets; some w glass fronts, pantry & extended breakfast bar which is open to living. Living includes warm fireplace, which is see through to family room. Master is private w master bath that includes double sinks, lovely garden tub, separate shower & linen closet. Secondary bedrooms are separate from master & share a spacious bath. Covered patio complete this dream. Welcome to your home paradise! Sage Creek amenities are the best!

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
R.v.groves Elementary School Primary Regular 632 40 9
Raymond B. Cooper Junior High School Middle Regular 748 44 10
Raymond B. Cooper Junior High School High Regular 748 44 10

R.v.groves Elementary School

  • Education Level: Primary
  • # of students: 632
  • # of teachers: 40
9
GreatSchools Rating

Raymond B. Cooper Junior High School

  • Education Level: Middle
  • # of students: 748
  • # of teachers: 44
10
GreatSchools Rating

Raymond B. Cooper Junior High School

  • Education Level: High
  • # of students: 748
  • # of teachers: 44
10
GreatSchools Rating
 

$253,800$310,200$282,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,040
Property Tax -$584
Property Insurance -$137
HOA -$31
Property Management Fees -$99
CASH FLOW
-$171

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.

$282,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.61%

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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$80,480

INVESTMENT

$80,480

Down Payment
$70,500
Rehab Estimate
$5,750
Closing Costs
$4,230

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,040

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,500
Loan Amount $211,500
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,898

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,750

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,720
1$1,7202$1,7953$1,8004$1,8955$2,095
$2,095
RENT COMPS ANALYSIS
  • 2919 Holly Lane Wylie, TX 1
    • 3 beds 2 baths ∙ 1,892 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,892 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.91
    •  
  • 3004 Eastwood Drive Wylie, TX 2
    • 4 beds 2 baths ∙ 2,033 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,033 Sqft ∙ Built 2003
    property image
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.88
    •  
  • 3012 Connor Lane Wylie, TX 3
    • 3 beds 2 baths ∙ 2,033 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,033 Sqft ∙ Built 2004
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.89
    •  
  • 712 Riverhead Drive Wylie, TX 4
    • 4 beds 2 baths ∙ 2,033 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,033 Sqft ∙ Built 2004
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.93
    •  
  • 2912 Preston Lane Wylie, TX 5
    • 4 beds 2 baths ∙ 2,092 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,092 Sqft ∙ Built 2007
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.00
    •  
PROPERTY LISTING DETAILS
Mary Kuykendall
Keller Williams Realty Allen
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14491681
Last Updated: 12/29/2020
BESbswy