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302 Lochwood Drive Wylie, TX 75098

4 Beds 2 Baths 1,872 sqft Built 2000

$275,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $146.90
  • 3 Days on Market
  • MLS # : 14486493
  • Updated Date : 12/18/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,872 sqft
  • Baths : 2 full
Listing Agent

Regal, Realtors

Listing Agent's Description

Nice, updated 4 bedroom 2 bath home in Wylie ISD. The home is move in ready with fresh paint, new flooring and fixtures throughout. There are two dining rooms, but the front one could be used as a play room, game room or study. If you like to spend time outside, this home features a very large patio cover outback.

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
 

$247,500$302,500$275,000

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 -$1,015
Property Tax -$569
Property Insurance -$135
HOA -$25
Property Management Fees -$99
CASH FLOW
-$123

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.

$275,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.63%

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$6,135

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
  • $0.92

    LIST RENT PER SQFT
  • $1,704

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7203$1,7504$1,8505$1,850
$1,850
RENT COMPS ANALYSIS
  • 302 Lochwood Drive Wylie, TX 2
    • 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.92
    •  
  • 3111 Creekwood Wylie, TX 1
    • 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 2000
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.91
    •  
  • 2904 Lakefield Drive Wylie, TX 3
    • 4 beds 2 baths ∙ 1,946 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,946 Sqft ∙ Built 2000
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.90
    •  
  • 208 Lochwood Drive Wylie, TX 4
    • 4 beds 3 baths ∙ 2,051 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,051 Sqft ∙ Built 2000
    LEASED 04/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.90
    •  
  • 3404 Oleander Drive Wylie, TX 5
    • 3 beds 2 baths ∙ 1,979 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,979 Sqft ∙ Built 2002
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.93
    •  
PROPERTY LISTING DETAILS
Leighton Pinkham
Regal, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14486493
Last Updated: 12/18/2020
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