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3102 Bryce Drive Wylie, TX 75098

5 Beds 3 Baths 3,300 sqft Built 2004

$348,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $105.45
  • 4 Days on Market
  • MLS # : 14463265
  • Updated Date : 10/31/2020 at 01:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,300 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jp & Associates Rockwall

Listing Agent's Description

Welcome home to this spacious 3,300 sq ft, 5 bedroom 2 and a half bath updated home in Wylie’s Sage Creek community. Enjoy plenty of room to play and entertain with 3 living and 2 dining areas. Large main bedroom downstairs with sitting area, en-suite bathroom with dual sinks, separate tub and shower and huge walk-in closet. All 4 additional bedrooms are upstairs, spacious, with walk-in closets. Kitchen is the home chef’s dream with stainless double oven, granite countertops just installed, deep sinks, and fast fill feature on faucet. Highly rated Wylie ISD. Community pool, multiple parks, tennis and basketball courts, clubhouse, fantastic community! Both AC units replaced less than 2 years ago.

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

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
 

$313,200$382,800$348,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,284
Property Tax -$720
Property Insurance -$218
HOA -$31
Property Management Fees -$99
CASH FLOW
-$52

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.

$348,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.66%

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-$6.0k-$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$97,970

INVESTMENT

$97,970

Down Payment
$87,000
Rehab Estimate
$5,750
Closing Costs
$5,220

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,284

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,000
Loan Amount $261,000
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$14,136

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,401

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,3003$2,3004$2,4955$2,600
$2,600
RENT COMPS ANALYSIS
  • 3102 Bryce Drive Wylie, TX 3
    • 5 beds 3 baths ∙ 3,300 Sqft ∙ Built 2004 5 beds 3 baths ∙ 3,300 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.70
    •  
  • 909 Appalachian Drive Wylie, TX 1
    • 4 beds 3 baths ∙ 3,300 Sqft ∙ Built 2010 4 beds 3 baths ∙ 3,300 Sqft ∙ Built 2010
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.68
    •  
  • 3105 Leesa Court Wylie, TX 2
    • 4 beds 3 baths ∙ 3,450 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,450 Sqft ∙ Built 2006
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.67
    •  
  • 413 Brookmere Lane Murphy, TX 4
    • 4 beds 4 baths ∙ 3,169 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,169 Sqft ∙ Built 2004
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.79
    •  
  • 434 Teagarden Court Murphy, TX 5
    • 4 beds 4 baths ∙ 3,383 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,383 Sqft ∙ Built 2005
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.77
    •  
PROPERTY LISTING DETAILS
Spring Weeks
Jp & Associates Rockwall
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463265
Last Updated: 10/31/2020
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