Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3745 Patty Lynne Abilene, TX 79606

3 Beds 2 Baths 1,666 sqft Built 1995

$175,000

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $105.04
  • 3 Days on Market
  • MLS # : 14467265
  • Updated Date : 11/06/2020 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,666 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

This is a well loved and cared for home! You will notice the great canvas to create your next home. Walking in the front door, you will enter the living room that is surrounded by the rest of the house. The guest bedrooms and the guest bathroom are to the right of the living room. Straight ahead of the entrance you will see the corner fireplace that can serve as the major focal point of the room. Open to the living room the dining room is a great asset to this hub. Entertaining a large group of friends or family will be a snap with all of this space. The LARGE back yard with covered patio porch will be great for the kids to play! To the right, there is an ample Master suite and utility room.

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

Neighborhood: Park Central Area

NeighborhoodNIR Market*CityMarket2010Year2005 Q3201970k80k90k100k110k120k130k140k150k160k170k180k190kPrice in $66k195k

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

Neighborhood: Park Central Area

NeighborhoodNIR Market*CityMarket2015Year20112019 Q2850900950100010501100115012001250Rent in $8171285

* 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
Ward Elementary School Primary Regular 550 31 6
Clack Middle School Middle Regular 818 58 4
Cooper High School High Regular 1,806 135 4

Ward Elementary School

  • Education Level: Primary
  • # of students: 550
  • # of teachers: 31
6
GreatSchools Rating

Clack Middle School

  • Education Level: Middle
  • # of students: 818
  • # of teachers: 58
4
GreatSchools Rating

Cooper High School

  • Education Level: High
  • # of students: 1,806
  • # of teachers: 135
4
GreatSchools Rating
 

$157,500$192,500$175,000

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$646
Property Tax -$377
Property Insurance -$122
Property Management Fees -$99
CASH FLOW
$76

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.

$175,000

PROJECTED PRICE

$1,320

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 5.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$52,125

INVESTMENT

$52,125

Down Payment
$43,750
Rehab Estimate
$5,750
Closing Costs
$2,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$646

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $43,750
Loan Amount $131,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$6,213

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,445

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,320
1$1,3202$1,3953$1,4954$1,5005$1,595
$1,595
RENT COMPS ANALYSIS
  • 3745 Patty Lynne Abilene, TX 1
    • 3 beds 2 baths ∙ 1,666 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,666 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.79
    •  
  • 4501 Carrie Ann Lane Abilene, TX 2
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1981
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.81
    •  
  • 3753 Patty Lynne Abilene, TX 3
    • 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1995
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.92
    •  
  • 3534 Honeysuckle Court Abilene, TX 4
    • 3 beds 2 baths ∙ 1,711 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,711 Sqft ∙ Built 1987
    LEASED 10/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.88
    •  
  • 4533 Ridgway Road Abilene, TX 5
    • 4 beds 2 baths ∙ 1,846 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,846 Sqft ∙ Built 1994
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.86
    •  
PROPERTY LISTING DETAILS
Chad Chaney
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467265
Last Updated: 11/06/2020
BESbswy