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3266 Woodlake Drive Abilene, TX 79606

3 Beds 2 Baths 2,197 sqft Built 1982

$245,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $111.52
  • 3 Days on Market
  • MLS # : 14526714
  • Updated Date : 03/05/2021 at 12:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,197 sqft
  • Baths : 2 full
Listing Agent

Better Homes & Gardens Real Estate Senter Realtors

Listing Agent's Description

NEED SPACIOUS ROOMS??? YOU WILL LOVE THE SIZE OF ALL ROOMS IN THIS WOODLAKE HOME. 3 BEDROOMS 2 BATHS (SPLIT). COZY DEN WITH WOOD BURNING FIREPLACE. UPDATED KITCHEN. 2 EATING AREAS. CORNER LOT WITH SIDE ENTRY GARAGE. ABILENE SCHOOLS.

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

Neighborhood: Chimney Rock Area

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $78k236k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Chimney Rock Area

NeighborhoodNIR Market*CityMarket2015Year20112019 Q285090095010001050110011501200125013001350140014501500Rent in $8341531

* 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
Ward Elementary School Primary Regular 550 31 6
Madison Middle School Middle Regular 900 62 4
Cooper High School High Regular 1,806 135 4

Ward Elementary School

  • Education Level: Primary
  • # of students: 550
  • # of teachers: 31
6
GreatSchools Rating

Madison Middle School

  • Education Level: Middle
  • # of students: 900
  • # of teachers: 62
4
GreatSchools Rating

Cooper High School

  • Education Level: High
  • # of students: 1,806
  • # of teachers: 135
4
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$851
Property Tax -$528
Property Insurance -$152
Property Management Fees -$99
CASH FLOW
-$20

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 18% of earned rent to cover both maintenance and periods of vacancy.

$245,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 4.2%
Maintenance Year (1-5) 8.00%
Vacancy 9.90%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$2,122

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,807

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,610
1$1,6102$1,6953$1,6954$1,7955$1,850
$1,850
RENT COMPS ANALYSIS
  • 3266 Woodlake Drive Abilene, TX 1
    • 3 beds 2 baths ∙ 2,197 Sqft ∙ Built 1982 3 beds 2 baths ∙ 2,197 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.73
    •  
  • 4617 Catclaw Drive Abilene, TX 2
    • 4 beds 2 baths ∙ 2,263 Sqft ∙ Built 1983 4 beds 2 baths ∙ 2,263 Sqft ∙ Built 1983
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.75
    •  
  • 46 Harbour Town Street Abilene, TX 3
    • 4 beds 4 baths ∙ 2,141 Sqft ∙ Built 1993 4 beds 4 baths ∙ 2,141 Sqft ∙ Built 1993
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.79
    •  
  • 4841 Jennifer Lane Abilene, TX 4
    • 4 beds 2 baths ∙ 2,050 Sqft ∙ Built 1986 4 beds 2 baths ∙ 2,050 Sqft ∙ Built 1986
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.88
    •  
  • 56 Tamarisk Circle Abilene, TX 5
    • 3 beds 3 baths ∙ 2,137 Sqft ∙ Built 1981 3 beds 3 baths ∙ 2,137 Sqft ∙ Built 1981
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.87
    •  
PROPERTY LISTING DETAILS
Peggy Manning
Better Homes & Gardens Real Estate Senter Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14526714
Last Updated: 03/05/2021
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