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3037 Ruby Drive Wylie, TX 75098

4 Beds 3 Baths 2,672 sqft Built 2009

$410,000

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $153.44
  • 3 Days on Market
  • MLS # : 14476697
  • Updated Date : 11/28/2020 at 15:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,672 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Judge Fite Co.

Listing Agent's Description

Ryland Homes had easy living in mind when they designed this well-appointed Creekside Estate home. Situated on an oversized corner lot in this highly sought-after community, this home has an open floorplan which lends itself to gatherings of all sizes. Spacious enough to relax after the most trying of days, it is intimate enough to spend quality time with those closest to you. The bedrooms are generously sized with ample natural light and a Master Suite which is separate and feels more like a private sanctuary. Although, all of this is merely an appetizer to the oasis of a backyard where the huge covered patio with a circulation fan, lush landscaping, pool with grotto, workshop, and 8' board on board fence.

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
Hunt Elementary School Primary Regular 731 46 10
Murphy Middle School Middle Regular 1,217 65 10
Mcmillen High School High Regular 1,088 70 8

Hunt Elementary School

  • Education Level: Primary
  • # of students: 731
  • # of teachers: 46
10
GreatSchools Rating

Murphy Middle School

  • Education Level: Middle
  • # of students: 1,217
  • # of teachers: 65
10
GreatSchools Rating

Mcmillen High School

  • Education Level: High
  • # of students: 1,088
  • # of teachers: 70
8
GreatSchools Rating
 

$369,000$451,000$410,000

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$1,513
Property Tax -$848
Property Insurance -$182
HOA -$40
Property Management Fees -$99
CASH FLOW
-$432

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.

$410,000

PROJECTED PRICE

$2,250

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

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$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,513

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$740

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,271

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,1503$2,2504$2,5005$2,500
$2,500
RENT COMPS ANALYSIS
  • 3037 Ruby Drive Wylie, TX 3
    • 4 beds 3 baths ∙ 2,672 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,672 Sqft ∙ Built 2009
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.84
    •  
  • 3308 Glenwood Drive Wylie, TX 1
    • 4 beds 2 baths ∙ 2,412 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,412 Sqft ∙ Built 2004
    property image
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.81
    •  
  • 1503 Lynn Drive Wylie, TX 2
    • 4 beds 3 baths ∙ 2,644 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,644 Sqft ∙ Built 2003
    property image
    LEASED 06/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.81
    •  
  • 3024 Hinnant Drive Wylie, TX 4
    • 5 beds 4 baths ∙ 2,997 Sqft ∙ Built 2006 5 beds 4 baths ∙ 2,997 Sqft ∙ Built 2006
    property image
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.83
    •  
  • 3023 Leesa Drive Wylie, TX 5
    • 4 beds 4 baths ∙ 2,630 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,630 Sqft ∙ Built 2016
    property image
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.95
    •  
PROPERTY LISTING DETAILS
Nick Termini
Century 21 Judge Fite Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14476697
Last Updated: 11/28/2020
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