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500 Sun Meadow Drive Wylie, TX 75098

4 Beds 3 Baths 2,871 sqft Built 2015

$410,000

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $142.81
  • 3 Days on Market
  • MLS # : 14505297
  • Updated Date : 02/07/2021 at 00:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,871 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

THE KIND OF HOME DREAMS ARE MADE OF!! Beautiful 1.5 story home on corner lot in beautiful Braddock Place III with too many upgrades to name! Entry, living and formal dining area adorned with gorgeous hard wood floors and decorative lighting. Kitchen boasts custom wood cabinets, wooden hood vent, granite countertops, SS appliances, butler’s pantry, large island and eating area. Spacious home has master and all secondary bedrooms on the FIRST FLOOR! Upstairs has large living area and half bath. Large master suite has sitting area by bay windows. Master bath has dual sinks, separate shower, jetted garden tub and large closet space. Features a large backyard with covered patio for plenty of outdoor entertaining!

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: 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
Watkins Elementary School Primary Regular 609 40 8
Grady Burnett Junior High School Middle Regular 725 43 9
Wylie East High School High Regular 1,718 109 8

Watkins Elementary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 40
8
GreatSchools Rating

Grady Burnett Junior High School

  • Education Level: Middle
  • # of students: 725
  • # of teachers: 43
9
GreatSchools Rating

Wylie East High School

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

$369,000$451,000$410,000

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$1,424
Property Tax -$848
Property Insurance -$193
HOA -$83
Property Management Fees -$99
CASH FLOW
-$388

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.

$410,000

PROJECTED PRICE

$2,260

PROJECTED RENT

0.55%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

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$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,424

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$695

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,132

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9503$1,9954$2,1505$2,260
$2,260
RENT COMPS ANALYSIS
  • 500 Sun Meadow Drive Wylie, TX 5
    • 4 beds 3 baths ∙ 2,871 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,871 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $0.79
    •  
  • 3004 Misty Way Drive Wylie, TX 1
    • 4 beds 3 baths ∙ 2,618 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,618 Sqft ∙ Built 2006
    LEASED 08/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.72
    •  
  • 1731 Oak Glen Drive Wylie, TX 2
    • 4 beds 3 baths ∙ 2,570 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,570 Sqft ∙ Built 2014
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.76
    •  
  • 1222 Iron Horse Street Wylie, TX 3
    • 4 beds 3 baths ∙ 2,547 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,547 Sqft ∙ Built 2006
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.78
    •  
  • 1322 Lake Trail Court Wylie, TX 4
    • 4 beds 3 baths ∙ 3,034 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,034 Sqft ∙ Built 2006
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.71
    •  
PROPERTY LISTING DETAILS
Carolyn Hooker
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14505297
Last Updated: 02/07/2021
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