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3313 Francis Drive Wylie, TX 75098

4 Beds 2 Baths 2,186 sqft Built 2002

$325,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $148.67
  • 2 Days on Market
  • MLS # : 14480525
  • Updated Date : 12/12/2020 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,186 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Don't miss your chance to see this meticulously cared for ONE OWNER home! Beautiful ONE story home located in the sought after neighborhood of Creekside Estates. Fresh paint throughout the entire home making it feel brand new! The UPDATED kitchen is a cook's dream with GRANITE CTOPS, Stainless Steel appliances and lots of cabinet and pantry space. Wood floors throughout the living areas and in all bedrooms. Master is separate from secondary bedrooms allowing for extra privacy. Walk outside to your HUGE COVERED PATIO with fans to relax after a long day at work or to watch the kids play in the backyard. The awesome neighborhood has a community pool, park, playground, walking trails and catch and release pond.

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
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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,199
Property Tax -$672
Property Insurance -$154
HOA -$40
Property Management Fees -$99
CASH FLOW
-$224

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.

$325,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.60%

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-$8.0k-$6.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,339

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,973

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9003$1,9254$1,9405$1,950
$1,950
RENT COMPS ANALYSIS
  • 3313 Francis Drive Wylie, TX 4
    • 4 beds 2 baths ∙ 2,186 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,186 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $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
    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
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.91
    •  
  • 3012 Nathan Drive Wylie, TX 3
    • 3 beds 2 baths ∙ 2,036 Sqft ∙ Built 2010 3 beds 2 baths ∙ 2,036 Sqft ∙ Built 2010
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.95
    •  
  • 3102 Charles Court Wylie, TX 5
    • 3 beds 2 baths ∙ 2,256 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,256 Sqft ∙ Built 2002
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.86
    •  
PROPERTY LISTING DETAILS
Lindsay Taylor
Exp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14480525
Last Updated: 12/12/2020
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