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3100 Charles Court Wylie, TX 75098

4 Beds 3 Baths 3,101 sqft Built 2004

$350,000

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $112.87
  • 3 Days on Market
  • MLS # : 14510535
  • Updated Date : 02/05/2021 at 14:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,101 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bishop Country Realty

Listing Agent's Description

Your new home awaits in this beautiful 2 story home featuring 4 bedrooms and 2 and a half baths. Inviting covered front porch welcomes you to wood floors, roomy front formals, spacious central living area and large kitchen and breakfast area overlooking the big back yard. Master suite has a large walk-in closet right and light and bright bath. Three additional bedrooms and a bath can be found upstairs in addition to a nicely oversized game room that is large enough to accommodate media space, game area, work space and more - the possibilities are endless. This corner lot location provides an oversized back yard area that is open for play, pets and cookouts. Community amenities too including pool and parks!

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
 

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

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$1,216
Property Tax -$724
Property Insurance -$206
HOA -$40
Property Management Fees -$99
CASH FLOW
-$25

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

$2,260

PROJECTED RENT

0.65%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

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 60% 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

3.75

YEARS SAVED

$12,749

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,427

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,1953$2,2604$2,4505$2,500
$2,500
RENT COMPS ANALYSIS
  • 3100 Charles Court Wylie, TX 3
    • 4 beds 3 baths ∙ 3,101 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,101 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $0.73
    •  
  • 1009 N Wooded Creek Avenue Wylie, TX 1
    • 4 beds 3 baths ∙ 2,995 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,995 Sqft ∙ Built 2006
    LEASED 01/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.73
    •  
  • 2923 Hunters Way Wylie, TX 2
    • 4 beds 2 baths ∙ 2,929 Sqft ∙ Built 2009 4 beds 2 baths ∙ 2,929 Sqft ∙ Built 2009
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.75
    •  
  • 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
Marissa Bishop
Bishop Country Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14510535
Last Updated: 02/05/2021
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