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413 W Marble Street Wylie, TX 75098

3 Beds 2 Baths 1,630 sqft Built 1987

$240,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1987
  • Price/Sqft : $147.24
  • 4 Days on Market
  • MLS # : 14465944
  • Updated Date : 11/05/2020 at 19:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,630 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Central

Listing Agent's Description

In the sought after Wylie ISD, and walking distance from Downtown Wylie where you can enjoy family activities, great shops, dining, coffee shops, winery, and the Borough for weekend entertainment! This lovely home offers a nice layout, built-ins, formal dining, and second flex space which could be used for 2nd living, homeschool, or work from home! Gorgeous quartz countertops and hard flooring throughout, high ceilings, and a fabulous backyard with tons of decking, storage shed, and a great gunite swimming pool which can be separated by a removable child safety fence.

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: 75098

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75098

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Davis Intermediate School Primary Regular 692 42 8
Frank Mcmillan Junior High School Middle Regular 656 43 10
Wylie East High School High Regular 1,718 109 8

Davis Intermediate School

  • Education Level: Primary
  • # of students: 692
  • # of teachers: 42
8
GreatSchools Rating

Frank Mcmillan Junior High School

  • Education Level: Middle
  • # of students: 656
  • # of teachers: 43
10
GreatSchools Rating

Wylie East High School

  • Education Level: High
  • # of students: 1,718
  • # of teachers: 109
8
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$886
Property Tax -$497
Property Insurance -$121
Property Management Fees -$99
CASH FLOW
$48

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.

$240,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.9%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$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$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$17,442

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,703

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6493$1,6504$1,6505$1,675
$1,675
RENT COMPS ANALYSIS
  • 413 W Marble Street Wylie, TX 4
    • 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.01
    •  
  • 608 Dielman Drive Wylie, TX 1
    • 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 2006
    property image
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.05
    •  
  • 411 Ashland Drive Wylie, TX 2
    • 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 2003
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,649
    • $1.03
    •  
  • 321 Celia Circle Wylie, TX 3
    • 3 beds 3 baths ∙ 1,625 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,625 Sqft ∙ Built 2004
    property image
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.02
    •  
  • 612 Fleming Street Wylie, TX 5
    • 3 beds 3 baths ∙ 1,557 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,557 Sqft ∙ Built 2005
    property image
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.08
    •  
PROPERTY LISTING DETAILS
Kathy Spillyards
Keller Williams Central
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465944
Last Updated: 11/05/2020
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