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343 Sophia Lane Abilene, TX 79602

4 Beds 2 Baths 1,737 sqft Built 2021

$229,900

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $132.35
  • 5 Days on Market
  • MLS # : 14494948
  • Updated Date : 01/06/2021 at 05:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,737 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Agent related to owner. Lantrip's Custom Home in Carriage Hills, close to Wylie schools and Kirby Lake. Open concept, split bedroom plan, crown molding and vinyl flooring throughout main areas, carpet in bedrooms, white custom cabinets with soft-close hinges, granite countertops, and large covered back porch. Primary suite includes free-standing tub, separate walk-in shower, and large walk-in closet. Exterior boasts brick, hardie siding, and fence. Energy efficient with 16-SEER TRANE HVAC and programmable thermostat. Builder will provide $1000 in closing costs and a StrucSure 2-10 Warranty. Landscaping, blinds, and refrigerator can be added to sales price. Visit showhome at 349 Sweet Pea for more info.

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
Jackson Elementary School Primary Regular 547 29 6
Madison Middle School Middle Regular 900 62 4
Cooper High School High Regular 1,806 135 4

Jackson Elementary School

  • Education Level: Primary
  • # of students: 547
  • # of teachers: 29
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
 

$206,910$252,890$229,900

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$799
Property Tax -$495
Property Insurance -$126
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.

$229,900

PROJECTED PRICE

$1,790

PROJECTED RENT

0.78%

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$700k

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$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,924

INVESTMENT

$62,924

Down Payment
$57,475
Rehab Estimate
$2,000
Closing Costs
$3,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$19,577

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,785

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,790
1$1,7902$1,7953$1,8004$1,8755$1,895
$1,895
RENT COMPS ANALYSIS
  • 343 Sophia Lane Abilene, TX 1
    • 4 beds 2 baths ∙ 1,737 Sqft ∙ Built 2021 4 beds 2 baths ∙ 1,737 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.03
    •  
  • 7157 Mcleod Drive Abilene, TX 2
    • 4 beds 2 baths ∙ 1,807 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,807 Sqft ∙ Built 2015
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.99
    •  
  • 7314 Connor Road Abilene, TX 3
    • 4 beds 2 baths ∙ 1,754 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,754 Sqft ∙ Built 2018
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.03
    •  
  • 309 Mill Creek Drive Abilene, TX 4
    • 4 beds 2 baths ∙ 1,811 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,811 Sqft ∙ Built 2017
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.04
    •  
  • 310 Mill Creek Drive Abilene, TX 5
    • 4 beds 2 baths ∙ 1,805 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,805 Sqft ∙ Built 2015
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.05
    •  
PROPERTY LISTING DETAILS
Robbie Johnson
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14494948
Last Updated: 01/06/2021
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