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450 Whitewing Lane Murphy, TX 75094

4 Beds 4 Baths 3,729 sqft Built 2012

$575,000

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $154.20
  • 4 Days on Market
  • MLS # : 14503550
  • Updated Date : 01/22/2021 at 08:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,729 sqft
  • Baths : 3 full , 1 half
Listing Agent

Ventura Realty

Listing Agent's Description

Welcome Home to this absolutely Stunning Fabulous 4 Bed, 3.5 Bath, 2 story house located at Maxwell Creek. The neutral color scheme works beautifully with any décor & the abundance of windows invites the sun to fill each room with natural light. Big Master with window seat and beautiful in master bath with decor hardware. Large welcoming upgraded kitchen with Knotty Alder cabinets (only few houses have this option) and dining area. Hardwoods downstairs and new carpet thru-out. Large backyard with cover patio and gas connection. 3 car garage. Exemplary schools of Wylie ISD. Buyer responsible for new survey. No sign in front yard. Must send pre-qual or Proof of funds to view.

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: Maxwell Creek North

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k458k

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

Neighborhood: Maxwell Creek North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262522

* 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
Tibbals Elementary School Primary Regular 613 37 10
Raymond B. Cooper Junior High School Middle Regular 748 44 10
Raymond B. Cooper Junior High School High Regular 748 44 10

Tibbals Elementary School

  • Education Level: Primary
  • # of students: 613
  • # of teachers: 37
10
GreatSchools Rating

Raymond B. Cooper Junior High School

  • Education Level: Middle
  • # of students: 748
  • # of teachers: 44
10
GreatSchools Rating

Raymond B. Cooper Junior High School

  • Education Level: High
  • # of students: 748
  • # of teachers: 44
10
GreatSchools Rating
 

$517,500$632,500$575,000

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$1,997
Property Tax -$1,001
Property Insurance -$243
HOA -$46
Property Management Fees -$99
CASH FLOW
-$755

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.

$575,000

PROJECTED PRICE

$2,630

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.5%
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$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$60

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,630

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,676

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,5953$2,6304$2,6505$2,675
$2,675
RENT COMPS ANALYSIS
  • 450 Whitewing Lane Murphy, TX 3
    • 4 beds 4 baths ∙ 3,729 Sqft ∙ Built 2012 4 beds 4 baths ∙ 3,729 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,630
    • $0.71
    •  
  • 306 Lakefield Drive Murphy, TX 1
    • 5 beds 3 baths ∙ 3,510 Sqft ∙ Built 2000 5 beds 3 baths ∙ 3,510 Sqft ∙ Built 2000
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.70
    •  
  • 930 Morningside Trail Murphy, TX 2
    • 5 beds 4 baths ∙ 3,543 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,543 Sqft ∙ Built 2006
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.73
    •  
  • 214 Sherwood Drive Murphy, TX 4
    • 5 beds 4 baths ∙ 3,520 Sqft ∙ Built 2000 5 beds 4 baths ∙ 3,520 Sqft ∙ Built 2000
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.75
    •  
  • 617 Windward Drive Murphy, TX 5
    • 5 beds 4 baths ∙ 3,857 Sqft ∙ Built 2011 5 beds 4 baths ∙ 3,857 Sqft ∙ Built 2011
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,675
    • $0.69
    •  
PROPERTY LISTING DETAILS
Nicole Subjeck
Ventura Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14503550
Last Updated: 01/22/2021
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