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3916 Wyeth Drive Plano, TX 75023

4 Beds 3 Baths 3,038 sqft Built 1984

$450,000

List Price

$2,670

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $148.12
  • 6 Days on Market
  • MLS # : 14470363
  • Updated Date : 11/19/2020 at 15:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,038 sqft
  • Baths : 3 full
Listing Agent

Abodewell Texas Brokerage

Listing Agent's Description

New renovations as of November 2020 * * Newly remodeled, gorgeous home in desirable Plano ISD. Spacious open light and bright living areas with brand new flooring, fresh paint, new fixtures and hardware, recessed lighting and large fireplace. Kitchen features stainless steel appliances, granite, undermount sink and remodeled cabinets. Master bathroom includes new vanity with Dallas-white countertops, as well as a beautiful new shower surround.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Neighborhood: Parkway Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k426k

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

Neighborhood: Parkway Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262824

* 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
Wells Elementary School Primary Regular 580 42 7
Haggard Middle School Middle Regular 860 53 7
Plano Senior High School High Regular 2,766 155 9

Wells Elementary School

  • Education Level: Primary
  • # of students: 580
  • # of teachers: 42
7
GreatSchools Rating

Haggard Middle School

  • Education Level: Middle
  • # of students: 860
  • # of teachers: 53
7
GreatSchools Rating

Plano Senior High School

  • Education Level: High
  • # of students: 2,766
  • # of teachers: 155
9
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,403$2,937$2,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,670
EXPENSES Loan Payment -$1,660
Property Tax -$766
Property Insurance -$203
HOA -$4
Property Management Fees -$99
CASH FLOW
-$62

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$450,000

PROJECTED PRICE

$2,670

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$21,255

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,670

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,666

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4503$2,6704$2,7005$2,800
$2,800
RENT COMPS ANALYSIS
  • 3916 Wyeth Drive Plano, TX 3
    • 4 beds 3 baths ∙ 3,038 Sqft ∙ Built 1984 4 beds 3 baths ∙ 3,038 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $2,670
    • $0.88
    •  
  • 4304 Echo Bluff Drive Plano, TX 1
    • 4 beds 3 baths ∙ 2,849 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,849 Sqft ∙ Built 1998
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.84
    •  
  • 4304 Sahara Lane Plano, TX 2
    • 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 1999
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.82
    •  
  • 3401 Sage Brush Trail Plano, TX 4
    • 4 beds 4 baths ∙ 2,866 Sqft ∙ Built 1988 4 beds 4 baths ∙ 2,866 Sqft ∙ Built 1988
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.94
    •  
  • 3909 Cross Bend Road Plano, TX 5
    • 4 beds 3 baths ∙ 3,067 Sqft ∙ Built 1984 4 beds 3 baths ∙ 3,067 Sqft ∙ Built 1984
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.91
    •  
PROPERTY LISTING DETAILS
Kym Loyd
Abodewell Texas Brokerage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470363
Last Updated: 11/19/2020
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