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3023 Lena Drive Wylie, TX 75098

4 Beds 3 Baths 3,034 sqft Built 2005

$415,000

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $136.78
  • 5 Days on Market
  • MLS # : 14523784
  • Updated Date : 03/04/2021 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,034 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Wonderful 4BR, 2.5BA home located in a beautiful community! This home features a large open floorplan, with loads of trimmed out windows, beautiful crown molding, chair molding & picture molding throughout. The living area features a cast stone fireplace, vaulted ceiling, and is open to the kitchen with breakfast bar, gas stove, and breakfast area. Formal living or dining room as well as a study. Amazing owner's retreat and master bath that features separate vanities, large tub, and glass shower along with walk in closet. Spacious backyard with patio and wood privacy fence. Great schools, community pool, park, jogging path, and so much more!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$373,500$456,500$415,000

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$1,441
Property Tax -$859
Property Insurance -$203
HOA -$40
Property Management Fees -$99
CASH FLOW
-$372

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.

$415,000

PROJECTED PRICE

$2,270

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-$10k-$8.0k-$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$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,441

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$994

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,503

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,270
1$2,2702$2,4503$2,4504$2,5005$2,695
$2,695
RENT COMPS ANALYSIS
  • 3023 Lena Drive Wylie, TX 1
    • 4 beds 3 baths ∙ 3,034 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,034 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $0.75
    •  
  • 3012 Reagenea Drive Wylie, TX 2
    • 4 beds 4 baths ∙ 3,019 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,019 Sqft ∙ Built 2006
    LEASED 02/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.81
    •  
  • 2905 Midstream Drive Wylie, TX 3
    • 4 beds 3 baths ∙ 2,996 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,996 Sqft ∙ Built 2006
    LEASED 02/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.82
    •  
  • 3024 Hinnant Drive Wylie, TX 4
    • 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
    •  
  • 634 Lone Ridge Way Murphy, TX 5
    • 4 beds 3 baths ∙ 3,194 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,194 Sqft ∙ Built 2007
    LEASED 02/23/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.84
    •  
PROPERTY LISTING DETAILS
Debbie Rosencranz
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14523784
Last Updated: 03/04/2021
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