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3006 Jacob Drive Wylie, TX 75098

4 Beds 4 Baths 3,118 sqft Built 2005

$425,000

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $136.31
  • 2 Days on Market
  • MLS # : 14466805
  • Updated Date : 11/07/2020 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,118 sqft
  • Baths : 3 full , 1 half
Listing Agent

Magnolia Realty

Listing Agent's Description

Beautiful 4 bed, 3.5 bath home backing to greenbelt. Stunning handscraped hardwood floors throughout first floor in office, dining, master, living and stairs. Walls and cabinets freshly painted with designer selected colors. Open living with built ins over looking large private backyard with covered patio. Backyard opens to nature and park. Upstairs features learning center, game room and 3 bedrooms. This home has it all!

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
 

$382,500$467,500$425,000

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,568
Property Tax -$879
Property Insurance -$207
HOA -$40
Property Management Fees -$99
CASH FLOW
-$474

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.

$425,000

PROJECTED PRICE

$2,320

PROJECTED RENT

0.55%

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-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$512

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,487

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,320
1$2,3202$2,4503$2,4504$2,4505$2,500
$2,500
RENT COMPS ANALYSIS
  • 3006 Jacob Drive Wylie, TX 1
    • 4 beds 4 baths ∙ 3,118 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,118 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $0.74
    •  
  • 332 Kansas Trail Murphy, TX 2
    • 5 beds 4 baths ∙ 3,194 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,194 Sqft ∙ Built 2006
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.77
    •  
  • 341 Apache Trail Murphy, TX 3
    • 4 beds 4 baths ∙ 3,193 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,193 Sqft ∙ Built 2006
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.77
    •  
  • 2905 Midstream Drive Wylie, TX 4
    • 4 beds 3 baths ∙ 2,996 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,996 Sqft ∙ Built 2006
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.82
    •  
  • 3024 Hinnant Drive Wylie, TX 5
    • 5 beds 4 baths ∙ 2,997 Sqft ∙ Built 2006 5 beds 4 baths ∙ 2,997 Sqft ∙ Built 2006
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.83
    •  
PROPERTY LISTING DETAILS
Ana Lam
Magnolia Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466805
Last Updated: 11/07/2020
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