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320 Highland Glen Drive Wylie, TX 75098

3 Beds 2 Baths 2,110 sqft Built 2006

INVESTimate

$285,000

List Price

$1,840

$1,656 - $2,024

Rent Est.

$303,240  ( +6.40%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $135.07
  • 2 Days on Market
  • MLS # : 14402748
  • Updated Date : 08/25/2020 at 19:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,110 sqft
  • Baths : 2 full
Listing Agent

Pinnacle Realty Advisors

Listing Agent's Description

Beautiful ONE story home with closed in SUNROOM. Wood floors throughout except wet areas and office space upfront. Open kitchen that offers an island with GRANITE + NEW SS Appliances. Great space for entertaining. Large master suite that offers GARDEN TUB + SEPARATE SHOWER and DUAL SINKS. CUSTOM SHELVING in master closet and one secondary bedroom. FRESH paint throughout the home and exterior of the home. FRENCH DRAINS out back along with area to build a great fire pit. AWARD-WINNING WYLIE ISD.

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
A.b. Harrison Intermediate School Primary Regular 658 39 8
Grady Burnett Junior High School Middle Regular 725 43 9
Wylie East High School High Regular 1,718 109 8

A.b. Harrison Intermediate School

  • Education Level: Primary
  • # of students: 658
  • # of teachers: 39
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
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,052
Property Tax -$618
Property Insurance -$149
HOA -$40
Property Management Fees -$99
CASH FLOW
-$118

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.

$285,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.40%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$6,495

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,841

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8403$1,8504$1,8505$1,995
$1,995
RENT COMPS ANALYSIS
  • 320 Highland Glen Drive Wylie, TX 2
    • 3 beds 2 baths ∙ 2,110 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,110 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.87
    •  
  • 335 Highland Glen Trail Wylie, TX 1
    • 3 beds 2 baths ∙ 2,220 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,220 Sqft ∙ Built 2005
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.81
    •  
  • 306 Grand Highlands Drive Wylie, TX 3
    • 3 beds 2 baths ∙ 1,975 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,975 Sqft ∙ Built 2005
    property image
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.94
    •  
  • 324 Highland Creek Drive Wylie, TX 4
    • 3 beds 2 baths ∙ 2,242 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,242 Sqft ∙ Built 2006
    property image
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.83
    •  
  • 309 Highland Creek Drive Wylie, TX 5
    • 3 beds 2 baths ∙ 2,190 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,190 Sqft ∙ Built 2005
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.91
    •  
PROPERTY LISTING DETAILS
Amy Jo Saenz
Pinnacle Realty Advisors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14402748
Last Updated: 08/25/2020
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