Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

502 Quail Creek Boulevard Wylie, TX 75098

3 Beds 2 Baths 1,887 sqft Built 1987

$269,900

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $143.03
  • 2 Days on Market
  • MLS # : 14471587
  • Updated Date : 11/14/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,887 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Central

Listing Agent's Description

Come see this gorgeous updated home with mature trees and an incredible backyard. Features include updated kitchen with granite, backsplash, stainless appliances, and tile floors; hardwoods in main living and dining areas; double pane windows; large closet spaces and designer colors. Walk into the beautiful primary bedroom & through the barn door into the spacious bath area with an updated double sink vanity, renovated shower masterpiece, separate soaking tub, and two walk-in closets. Enjoy the double-sided fireplace in both living areas and views to the backyard with an expansive covered patio & grilling space, charming pool & decking, storage shed, and grass to play in throughout the year. This is a Must See!

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
A.b. Harrison Intermediate School Primary Regular 658 39 8
Grady Burnett Junior High School Middle Regular 725 43 9
Wylie East High School High Regular 1,718 109 8

A.b. Harrison Intermediate School

  • Education Level: Primary
  • # of students: 658
  • # of teachers: 39
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
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$996
Property Tax -$558
Property Insurance -$136
Property Management Fees -$99
CASH FLOW
-$99

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.

$269,900

PROJECTED PRICE

$1,690

PROJECTED RENT

0.63%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$7,542

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,797

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6703$1,6904$1,6955$1,850
$1,850
RENT COMPS ANALYSIS
  • 502 Quail Creek Boulevard Wylie, TX 3
    • 3 beds 2 baths ∙ 1,887 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,887 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.90
    •  
  • 501 Dogwood Drive Wylie, TX 1
    • 3 beds 2 baths ∙ 1,730 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,730 Sqft ∙ Built 1971
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.87
    •  
  • 306 Briarwood Drive Wylie, TX 2
    • 4 beds 2 baths ∙ 1,704 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,704 Sqft ∙ Built 1976
    property image
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.98
    •  
  • 113 Liberty Drive Wylie, TX 4
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1986
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.97
    •  
  • 1218 Cedar Branch Drive Wylie, TX 5
    • 4 beds 2 baths ∙ 1,860 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,860 Sqft ∙ Built 2006
    property image
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.99
    •  
PROPERTY LISTING DETAILS
Jeff Wolfe
Keller Williams Central
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471587
Last Updated: 11/14/2020
BESbswy