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323 Highland Ridge Drive Wylie, TX 75098

3 Beds 2 Baths 1,796 sqft Built 2008

$286,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $159.24
  • 4 Days on Market
  • MLS # : 14517419
  • Updated Date : 02/11/2021 at 18:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,796 sqft
  • Baths : 2 full
Listing Agent

Competitive Edge Realty Llc

Listing Agent's Description

OFFER RECEIVED. BRING BEST AND HIGHEST BY 5PM SATURDAY Feb 13. WELCOME HOME! Immaculately kept home in coveted Woodbridge Subdivision in Wylie ISD! Home features open floorplan, split bedrooms; floating laminate flooring, granite counter tops with island, SS appliances, including refrigerator, radiant barrier and over sized garage! The fence was replaced Spring 2020 and AC was replaced 2019. If you are looking for an excellent place to start a family or raise one, this is it! Woodbridge HOA offers pools, parks, golf and miles of jogging and bike trails for family fun!

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
Cheri Cox Elementary School Primary Regular 626 40 8
Grady Burnett Junior High School Middle Regular 725 43 9
Wylie East High School High Regular 1,718 109 8

Cheri Cox Elementary School

  • Education Level: Primary
  • # of students: 626
  • # of teachers: 40
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
 

$257,400$314,600$286,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$993
Property Tax -$592
Property Insurance -$131
HOA -$40
Property Management Fees -$99
CASH FLOW
-$85

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.

$286,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.4%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,540

INVESTMENT

$81,540

Down Payment
$71,500
Rehab Estimate
$5,750
Closing Costs
$4,290

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$993

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,500
Loan Amount $214,500
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$6,843

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,778

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,770
1$1,7702$1,7953$1,7954$1,8955$2,000
$2,000
RENT COMPS ANALYSIS
  • 323 Highland Ridge Drive Wylie, TX 1
    • 3 beds 2 baths ∙ 1,796 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,796 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.99
    •  
  • 1804 Brookridge Drive Wylie, TX 2
    • 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 2005
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.98
    •  
  • 318 Highland Fairway Lane Wylie, TX 3
    • 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 2007
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.00
    •  
  • 333 Highland Glen Drive Wylie, TX 4
    • 3 beds 2 baths ∙ 1,965 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,965 Sqft ∙ Built 2005
    LEASED 01/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.96
    •  
  • 308 Highland Park Lane Wylie, TX 5
    • 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 2007
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.02
    •  
PROPERTY LISTING DETAILS
Deana Boyd
Competitive Edge Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14517419
Last Updated: 02/11/2021
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