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3302 Amber Waves Lane Wylie, TX 75098

4 Beds 4 Baths 3,020 sqft Built 2020

$479,000

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $158.61
  • 5 Days on Market
  • MLS # : 14483384
  • Updated Date : 12/09/2020 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,020 sqft
  • Baths : 3 full , 1 half
Listing Agent

Jagjit Singh

Listing Agent's Description

Ask about our MEGAsale promotion of 6 months mortgage on us. Megatel Homes will credit the first 6 months of your new mortgage payment. See your community sales consultant for full details. contract and MEGA sale addendum must be signed between July 23rd, 2020 through December 31st, 2020. Mortgage payment refers to principal and interest only. Additional restrictions apply. Megatel Homes reserves the right to change or cancel the program at any time.

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

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
Don Whitt Elementary School Primary Regular 568 36 10
Raymond B. Cooper Junior High School Middle Regular 748 44 10
Raymond B. Cooper Junior High School High Regular 748 44 10

Don Whitt Elementary School

  • Education Level: Primary
  • # of students: 568
  • # of teachers: 36
10
GreatSchools Rating

Raymond B. Cooper Junior High School

  • Education Level: Middle
  • # of students: 748
  • # of teachers: 44
10
GreatSchools Rating

Raymond B. Cooper Junior High School

  • Education Level: High
  • # of students: 748
  • # of teachers: 44
10
GreatSchools Rating
 

$431,100$526,900$479,000

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$1,767
Property Tax -$399
Property Insurance -$202
HOA -$40
Property Management Fees -$99
CASH FLOW
-$237

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$479,000

PROJECTED PRICE

$2,270

PROJECTED RENT

0.47%

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) 3.00%
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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,935

INVESTMENT

$128,935

Down Payment
$119,750
Rehab Estimate
$2,000
Closing Costs
$7,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $119,750
Loan Amount $359,250
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$14,107

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,273

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1953$2,2504$2,2705$2,495
$2,495
RENT COMPS ANALYSIS
  • 3302 Amber Waves Lane Wylie, TX 4
    • 4 beds 4 baths ∙ 3,020 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,020 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $0.75
    •  
  • 3110 Springwell Parkway Wylie, TX 1
    • 4 beds 3 baths ∙ 2,762 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,762 Sqft ∙ Built 2000
    property image
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.76
    •  
  • 2923 Hunters Way Wylie, TX 2
    • 4 beds 2 baths ∙ 2,929 Sqft ∙ Built 2009 4 beds 2 baths ∙ 2,929 Sqft ∙ Built 2009
    property image
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.75
    •  
  • 415 Rainforest Court Murphy, TX 3
    • 5 beds 3 baths ∙ 3,188 Sqft ∙ Built 2000 5 beds 3 baths ∙ 3,188 Sqft ∙ Built 2000
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.71
    •  
  • 413 Brookmere Lane Murphy, TX 5
    • 4 beds 4 baths ∙ 3,169 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,169 Sqft ∙ Built 2004
    property image
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.79
    •  
PROPERTY LISTING DETAILS
Jagjit Singh
Jagjit Singh
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14483384
Last Updated: 12/09/2020
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