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507 Dogwood Drive Wylie, TX 75098

3 Beds 2 Baths 1,335 sqft Built 1981

$194,700

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $145.84
  • 4 Days on Market
  • MLS # : 14529682
  • Updated Date : 03/12/2021 at 13:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,335 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Central

Listing Agent's Description

Multiple Offers Received. Sellers have asked for Best & Final by Saturday, 03.13.21 at 7:00 pm. Welcome Home! This home has a GREAT floor plan with a spacious family room including laminate wood floors & a WBFP that opens to the kitchen & breakfast nook. The kitchen boasts an updated SS dishwasher & oven range, plus lots of cabinet & counter space! All 3 bedrooms are a great size & each include their own WALK-IN closet with built-in shelving! You'll love all the additional built-in storage in the utility area as well! The oversized backyard is the perfect place to spend time outdoors & offers plenty of space for a pool! The extended driveway has tons of extra parking space with room for a boat or RV! Wylie ISD!

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
R.f. Hartman Elementary School Primary Regular 495 31 9
Grady Burnett Junior High School Middle Regular 725 43 9
Wylie East High School High Regular 1,718 109 8

R.f. Hartman Elementary School

  • Education Level: Primary
  • # of students: 495
  • # of teachers: 31
9
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
 

$175,230$214,170$194,700

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$676
Property Tax -$403
Property Insurance -$104
Property Management Fees -$99
CASH FLOW
$148

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.

$194,700

PROJECTED PRICE

$1,430

PROJECTED RENT

0.73%

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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,346

INVESTMENT

$57,346

Down Payment
$48,675
Rehab Estimate
$5,750
Closing Costs
$2,921

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$676

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $48,675
Loan Amount $146,025
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$21,148

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,425

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4303$1,5504$1,5605$1,675
$1,675
RENT COMPS ANALYSIS
  • 507 Dogwood Drive Wylie, TX 2
    • 3 beds 2 baths ∙ 1,335 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,335 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $1.07
    •  
  • 901 Memorial Drive Wylie, TX 1
    • 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1966
    property image
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.03
    •  
  • 210 Spence Drive Wylie, TX 3
    • 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1982
    property image
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.09
    •  
  • 407 Stoneybrook Drive Wylie, TX 4
    • 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1981
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $1.04
    •  
  • 104 Silvercreek Drive Wylie, TX 5
    • 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 1998
    property image
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.11
    •  
PROPERTY LISTING DETAILS
Misty Forehand
Keller Williams Central
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14529682
Last Updated: 03/12/2021
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