Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3109 Jacob Drive Wylie, TX 75098

4 Beds 2 Baths 2,037 sqft Built 2003

$340,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $166.91
  • 3 Days on Market
  • MLS # : 14536137
  • Updated Date : 03/19/2021 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,037 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Tour this 4 bedroom home in Creekside Estates! Beautifully updated with hardwood floors and plantation shutters with large kitchen open to the family living area and dining room. Master bedroom suite complete with walk in closet and master bath with garden tub, separate shower, and double vanity sinks. Large private backyard with extended patio and updated fence and gate. Enjoy the gorgeous lake views, jogging and bike path, community pool, and playground. This home is a MUST SEE!

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
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,181
Property Tax -$704
Property Insurance -$145
HOA -$40
Property Management Fees -$99
CASH FLOW
-$318

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.

$340,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.54%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$719

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,930

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8503$1,8504$1,9005$2,000
$2,000
RENT COMPS ANALYSIS
  • 3109 Jacob Drive Wylie, TX 3
    • 4 beds 2 baths ∙ 2,037 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,037 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.91
    •  
  • 3407 Melvin Drive Wylie, TX 1
    • 3 beds 2 baths ∙ 2,023 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,023 Sqft ∙ Built 2004
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.89
    •  
  • 3018 Sawgrass Drive Wylie, TX 2
    • 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 2004
    property image
    LEASED 01/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.98
    •  
  • 3110 Reagenea Drive Wylie, TX 4
    • 4 beds 2 baths ∙ 2,088 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,088 Sqft ∙ Built 2004
    property image
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.91
    •  
  • 3310 Francis Drive Wylie, TX 5
    • 3 beds 2 baths ∙ 1,980 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,980 Sqft ∙ Built 2002
    property image
    LEASED 03/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.01
    •  
PROPERTY LISTING DETAILS
Chin Williams
Exp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14536137
Last Updated: 03/19/2021
BESbswy