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

3110 Hinnant Court Wylie, TX 75098

4 Beds 2 Baths 2,211 sqft Built 2003

$310,000

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $140.21
  • 4 Days on Market
  • MLS # : 14513315
  • Updated Date : 02/06/2021 at 13:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,211 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Adorable Creekside Estate Home features an inviting, expanded front porch with wrought iron railing. There are 4 bedrooms or 3 bedrooms and a study. Two nice size living areas and two dining areas .The Open kitchen has stainless steel farm sink and granite counter tops with subway backsplash. Windows in Front living area overlook the park and the second living room with fireplace overlooks the large back yard. Roof replaced in 2016. Water Heater replaced in January of 2020. home located on the Cul-de-sac across the street from the treed park that has a playground, ponds, and pool. This Beautiful community offers events to bring neighbors together. There is a fishing tournament in the summer and Holiday events.

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
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,077
Property Tax -$641
Property Insurance -$155
HOA -$40
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.

$310,000

PROJECTED PRICE

$1,960

PROJECTED RENT

0.63%

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-$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$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$9,672

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,951

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9003$1,9504$1,9605$2,100
$2,100
RENT COMPS ANALYSIS
  • 3110 Hinnant Court Wylie, TX 4
    • 4 beds 2 baths ∙ 2,211 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,211 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.89
    •  
  • 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
    •  
  • 3110 Reagenea Drive Wylie, TX 2
    • 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
    •  
  • 3102 Charles Court Wylie, TX 3
    • 3 beds 2 baths ∙ 2,256 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,256 Sqft ∙ Built 2002
    property image
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.86
    •  
  • 511 Lone Ridge Way Murphy, TX 5
    • 3 beds 2 baths ∙ 2,404 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,404 Sqft ∙ Built 2006
    property image
    LEASED 01/14/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.87
    •  
PROPERTY LISTING DETAILS
Karen Straughan
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14513315
Last Updated: 02/06/2021
BESbswy