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

3005 Eastwood Drive Wylie, TX 75098

3 Beds 2 Baths 1,834 sqft Built 2003

$270,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $147.22
  • 4 Days on Market
  • MLS # : 14478184
  • Updated Date : 12/03/2020 at 17:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,834 sqft
  • Baths : 2 full
Listing Agent

Re/max Town & Country

Listing Agent's Description

Multiple offers received. Best and final by 5:00 p.m., Saturday, 12.5.20. Well maintained home in conveniently located Sage Creek subdivision.The kitchen with island and stainless steel appliances flows easily to the dining and on to the main living area, which provides a great view to the outdoor patio and nicely landscaped backyard.The master suite includes a jetted tub,dual sinks and a master closet with builtins.The secondary bedrooms are split on separate hall with bath and utility.In addition to the 3 bedrooms the front office has the flexibility to be whatever your family needs-a space for remote learning, additional living or even extra bedroom.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

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
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$996
Property Tax -$559
Property Insurance -$133
HOA -$31
Property Management Fees -$99
CASH FLOW
-$158

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.

$270,000

PROJECTED PRICE

$1,660

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$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$4,002

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,674

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,6604$1,7955$1,895
$1,895
RENT COMPS ANALYSIS
  • 3005 Eastwood Drive Wylie, TX 3
    • 3 beds 2 baths ∙ 1,834 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,834 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.91
    •  
  • 3004 Connor Lane Wylie, TX 1
    • 3 beds 2 baths ∙ 1,834 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,834 Sqft ∙ Built 2004
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
  • 3100 Admiral Drive Wylie, TX 2
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2002
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
  • 3004 Eastwood Drive Wylie, TX 4
    • 4 beds 2 baths ∙ 2,033 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,033 Sqft ∙ Built 2003
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.88
    •  
  • 712 Riverhead Drive Wylie, TX 5
    • 4 beds 2 baths ∙ 2,033 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,033 Sqft ∙ Built 2004
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.93
    •  
PROPERTY LISTING DETAILS
Linda Caballero
Re/max Town & Country
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14478184
Last Updated: 12/03/2020
BESbswy