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3949 Wake Forrest Lane Abilene, TX 79602

4 Beds 2 Baths 1,380 sqft Built 1986

INVESTimate

$182,500

List Price

$1,330

$1,197 - $1,463

Rent Est.

$189,800  ( +4.00%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $132.25
  • 8 Days on Market
  • MLS # : 14415897
  • Updated Date : 08/20/2020 at 10:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,380 sqft
  • Baths : 2 full
Listing Agent

Re/max Of Abilene

Listing Agent's Description

Stunning remodel in Wylie Schools. Located in a well established area on a corner lot. House was redone from the studs out, everything new in 2020. In kitchen & bath custom cabinets with slow close doors and granite counter top. Kitchen has a large farm sink with stainless steel appliances. Upgraded plumbing & electrical including plugs. New decorative doors, hardware, tubs, valves, fixtures, can lighting, decorative flooring in baths & new flooring in entire home, new baseboards, barn beams added, barn boards added for a unique and classic style. Fireplace was extended in height. Thermo windows, new interior and exterior paint, roof 2020. 4 beds 2 baths large corner lot. WOW!

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

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
 

$164,250$200,750$182,500

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$673
Property Tax -$393
Property Insurance -$106
Property Management Fees -$99
CASH FLOW
$59

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.

$182,500

PROJECTED PRICE

$1,330

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 4.00%
Maintenance Year (1-5) 8.00%
Vacancy 9.90%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$54,113

INVESTMENT

$54,113

Down Payment
$45,625
Rehab Estimate
$5,750
Closing Costs
$2,738

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$673

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $45,625
Loan Amount $136,875
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$5,532

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,421

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3003$1,3304$1,3955$1,395
$1,395
RENT COMPS ANALYSIS
  • 3949 Wake Forrest Lane Abilene, TX 3
    • 4 beds 2 baths ∙ 1,380 Sqft ∙ Built 1986 4 beds 2 baths ∙ 1,380 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $0.96
    •  
  • 3941 Duke Lane Abilene, TX 1
    • 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1998
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.05
    •  
  • 3858 Wake Forrest Lane Abilene, TX 2
    • 3 beds 2 baths ∙ 1,257 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,257 Sqft ∙ Built 1997
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.03
    •  
  • 3926 Wake Forrest Lane Abilene, TX 4
    • 3 beds 2 baths ∙ 1,335 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,335 Sqft ∙ Built 1996
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.04
    •  
  • 3901 Wake Forrest Lane Abilene, TX 5
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1996
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.00
    •  
PROPERTY LISTING DETAILS
Sarah Faynan
Re/max Of Abilene
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415897
Last Updated: 08/20/2020
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