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310 Highland View Drive Wylie, TX 75098

4 Beds 3 Baths 2,722 sqft Built 2005

$350,000

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

February 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $128.58
  • 7 Days on Market
  • MLS # : 14515180
  • Updated Date : 02/12/2021 at 15:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,722 sqft
  • Baths : 2 full , 1 half
Listing Agent

Offerpad Brokerage, Llc

Listing Agent's Description

Stunning home on large corner lot in sought after Woodbridge subdivision. Home features an open concept with a separate office. Large kitchen with island has granite counters and SS appliances to enhance its appeal. Giant backyard offers very large, custom patio with stained concrete covered by a beautiful structure with a mounted TV and 2 ceiling fans. Perfect place to hang out or entertain guests! Large, custom play structure can be configured with many different options for the kiddos. Home is a short walk to the community pool and is surrounded by lush, wooded walking trails that wind around the golf course. Location, location, location!!!

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

Neighborhood: Woodbridge

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Woodbridge

NeighborhoodNIR 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
Cheri Cox Elementary School Primary Regular 626 40 8
Grady Burnett Junior High School Middle Regular 725 43 9
Wylie East High School High Regular 1,718 109 8

Cheri Cox Elementary School

  • Education Level: Primary
  • # of students: 626
  • # of teachers: 40
8
GreatSchools Rating

Grady Burnett Junior High School

  • Education Level: Middle
  • # of students: 725
  • # of teachers: 43
9
GreatSchools Rating

Wylie East High School

  • Education Level: High
  • # of students: 1,718
  • # of teachers: 109
8
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,216
Property Tax -$724
Property Insurance -$184
HOA -$40
Property Management Fees -$99
CASH FLOW
-$113

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.

$350,000

PROJECTED PRICE

$2,150

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$7,554

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,293

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,1503$2,2004$2,2505$2,375
$2,375
RENT COMPS ANALYSIS
  • 310 Highland View Drive Wylie, TX 2
    • 4 beds 3 baths ∙ 2,722 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,722 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.79
    •  
  • 1912 Grand Fairway Drive Wylie, TX 1
    • 3 beds 3 baths ∙ 2,562 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,562 Sqft ∙ Built 2009
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.84
    •  
  • 423 Fairland Drive Wylie, TX 3
    • 4 beds 2 baths ∙ 2,657 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,657 Sqft ∙ Built 2007
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.83
    •  
  • 1114 Hall Drive Wylie, TX 4
    • 5 beds 3 baths ∙ 2,546 Sqft ∙ Built 1996 5 beds 3 baths ∙ 2,546 Sqft ∙ Built 1996
    LEASED 02/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.88
    •  
  • 2004 E Fairway Winds Court Wylie, TX 5
    • 4 beds 3 baths ∙ 2,895 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,895 Sqft ∙ Built 2012
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.82
    •  
PROPERTY LISTING DETAILS
Steve Russell
Offerpad Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14515180
Last Updated: 02/12/2021
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