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333 Southlake Drive Abilene, TX 79602

4 Beds 3 Baths 2,409 sqft Built 2014

$305,000

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $126.61
  • 2 Days on Market
  • MLS # : 14468621
  • Updated Date : 11/14/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,409 sqft
  • Baths : 3 full
Listing Agent

Re/max Of Abilene

Listing Agent's Description

Wylie ISD! Spacious 4 bedrooms, 3 baths, 2 living!!! Large kitchen, beautifully stained knotty Alder-wood, granite countertops & breakfast bar, stainless steel appliances, true double-ovens plus microwave, lots of counter space, pantry, bonus room upstairs has it's own full bath & walk-in closet (makes a 5th bedroom, media room, play room, etc.!) Beautiful wood-laminate flooring, carpet & ceramic tile. Huge walk-in closet in master bedroom and a jetted tub with separate shower in master bath. Big covered patio, fence, landscaping, & sprinkler system. Built in 2014 with many energy-star features such as low-E windows, energy-star appliances, sprinkler sys, & more makes this an extra-special home! 2409 sqft!

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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: 79602

ZipNIR Market*CityMarket2010Year2005 Q3201970k80k90k100k110k120k130k140k150k160k170k180kPrice in $66k189k

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

Zip Code: 79602

ZipNIR Market*CityMarket2015Year20112019 Q28509009501000105011001150120012501300Rent in $8171309

* 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
Wylie Intermediate School Primary Regular 618 34 8
Wylie Junior High School Middle Regular 625 37 9
Wylie High School High Regular 1,026 67 8

Wylie Intermediate School

  • Education Level: Primary
  • # of students: 618
  • # of teachers: 34
8
GreatSchools Rating

Wylie Junior High School

  • Education Level: Middle
  • # of students: 625
  • # of teachers: 37
9
GreatSchools Rating

Wylie High School

  • Education Level: High
  • # of students: 1,026
  • # of teachers: 67
8
GreatSchools Rating
 

$274,500$335,500$305,000

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$1,125
Property Tax -$657
Property Insurance -$165
HOA -$10
Property Management Fees -$99
CASH FLOW
$194

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.

$305,000

PROJECTED PRICE

$2,250

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 4.0%
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$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

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$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$15,931

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,409

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,2503$2,3954$2,4955$2,600
$2,600
RENT COMPS ANALYSIS
  • 333 Southlake Drive Abilene, TX 2
    • 4 beds 3 baths ∙ 2,409 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,409 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.93
    •  
  • 290 Southlake Drive Abilene, TX 1
    • 4 beds 2 baths ∙ 2,075 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,075 Sqft ∙ Built 2015
    property image
    LEASED 06/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.06
    •  
  • 449 Apple Blossom Drive Abilene, TX 3
    • 4 beds 3 baths ∙ 2,507 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,507 Sqft ∙ Built 2009
    property image
    LEASED 07/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.96
    •  
  • 102 Angie Lane Abilene, TX 4
    • 4 beds 3 baths ∙ 2,663 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,663 Sqft ∙ Built 2014
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.94
    •  
  • 110 Alex Way Abilene, TX 5
    • 4 beds 3 baths ∙ 2,501 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,501 Sqft ∙ Built 2014
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.04
    •  
PROPERTY LISTING DETAILS
Paula Jones
Re/max Of Abilene
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14468621
Last Updated: 11/14/2020
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