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337 Martis Way Abilene, TX 79602

3 Beds 2 Baths 1,500 sqft Built 2021

$204,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $136.00
  • 5 Days on Market
  • MLS # : 14494658
  • Updated Date : 01/07/2021 at 09:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,500 sqft
  • Baths : 2 full
Listing Agent

Tonya Harbin Real Estate

Listing Agent's Description

Gorgeously designed 3 bed 2 bath Legend Home. Natural light flows through the open floor plan into grand living and kitchen layout. The kitchen will have soft close doors and drawers, granite counter tops, and large island. Main areas include etched & stained concrete and carpet in the bedrooms. The owners suite has a walk-in closet, fully tiled shower & granite counter tops. The home includes a WIFI thermostat, insulated garage door with WIFI opener, and a video doorbell. Don't miss the beautiful home out in Carriage Hills! Estimated completion date March 12th 2021.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
 

$183,600$224,400$204,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$709
Property Tax -$439
Property Insurance -$113
HOA -$21
Property Management Fees -$99
CASH FLOW
$250

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$204,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.80%

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) 3.00%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,060

INVESTMENT

$56,060

Down Payment
$51,000
Rehab Estimate
$2,000
Closing Costs
$3,060

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$709

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $51,000
Loan Amount $153,000
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$20,425

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,650

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,630
1$1,6302$1,7953$1,875
$1,875
RENT COMPS ANALYSIS
  • 337 Martis Way Abilene, TX 1
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $1.09
    •  
  • 262 Bella Way Abilene, TX 2
    • 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 2020
    property image
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.10
    •  
  • 129 Carriage Hills Parkway Abilene, TX 3
    • 4 beds 2 baths ∙ 1,703 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,703 Sqft ∙ Built 2019
    property image
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.10
    •  
PROPERTY LISTING DETAILS
Tonya Harbin
Tonya Harbin Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14494658
Last Updated: 01/07/2021
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