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381 Lollipop Trail Abilene, TX 79602

4 Beds 2 Baths 1,706 sqft Built 2010

$224,900

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $131.83
  • 2 Days on Market
  • MLS # : 14471307
  • Updated Date : 11/13/2020 at 23:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,706 sqft
  • Baths : 2 full
Listing Agent

Sendero Properties Llc

Listing Agent's Description

Just in time for the holidays! Located near Lake Kirby, the new Wylie East Elementary, and with easy access to fine dining and shopping, this charming 4 bed, 2 bath home has been lovingly cared for and is move-in-ready! Featuring an open-concept split layout with vaulted ceilings and a kitchen complete with granite counters and eat-in breakfast bar. The layout of the home is truly fantastic, boasting abundant storage and large closets. The master bath is to die for! With a garden tub, dual sinks, separate shower and walk-in closet. A covered porch overlooks the sizeable back yard. The home was repainted in 2017 and Vivint security system with video doorbell installed. Ring in the new year in your new home!

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: 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
 

$202,410$247,390$224,900

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$830
Property Tax -$484
Property Insurance -$124
Property Management Fees -$99
CASH FLOW
$63

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.

$224,900

PROJECTED PRICE

$1,600

PROJECTED RENT

0.71%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$65,349

INVESTMENT

$65,349

Down Payment
$56,225
Rehab Estimate
$5,750
Closing Costs
$3,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,225
Loan Amount $168,675
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$6,321

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,629

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5003$1,6004$1,6955$1,795
$1,795
RENT COMPS ANALYSIS
  • 381 Lollipop Trail Abilene, TX 3
    • 4 beds 2 baths ∙ 1,706 Sqft ∙ Built 2010 4 beds 2 baths ∙ 1,706 Sqft ∙ Built 2010
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.94
    •  
  • 225 Cotton Candy Road Abilene, TX 1
    • 3 beds 2 baths ∙ 1,554 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,554 Sqft ∙ Built 2007
    property image
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.96
    •  
  • 381 Miss Ellie Lane Abilene, TX 2
    • 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 2008
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.94
    •  
  • 349 Whiterock Drive Abilene, TX 4
    • 4 beds 2 baths ∙ 1,809 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,809 Sqft ∙ Built 2015
    property image
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.94
    •  
  • 7049 Mcleod Drive Abilene, TX 5
    • 3 beds 2 baths ∙ 1,826 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,826 Sqft ∙ Built 2015
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.98
    •  
PROPERTY LISTING DETAILS
Caleb Fullerton
Sendero Properties Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471307
Last Updated: 11/13/2020
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