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514 Highland Ridge Drive Wylie, TX 75098

4 Beds 3 Baths 2,631 sqft Built 2011

$369,000

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $140.25
  • 3 Days on Market
  • MLS # : 14460948
  • Updated Date : 12/04/2020 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,631 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Dallas Suburbs

Listing Agent's Description

*OPEN HOUSE 12052020 11AM-1PM* Well cared for 2011 K Hovnanian ONE OWNER home on 14th fairway of GOLF COURSE! Beautiful elevation, wrought iron fencing, flagstone landscaping & custom front door will impress! Downstairs master has new frameless shower, a jetted tub & walk in closet. The open kitchen has stainless steel appliances, granite countertops & an island breakfast bar! Three oversized rooms, a full bath & game room upstairs. Enjoy a custom covered back patio overlooking the golf course, gas fireplace & a new architectural 20 yr roof 4 yrs ago. Woodbridge has PGA Golf, a clubhouse with dining, many jogging & bike trails, 7 + swimming pools, playgrounds & ponds! Close to 190 frwy & in WISD! MUST SEE!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Woodbridge

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k344k

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

Neighborhood: Woodbridge

NeighborhoodNIR 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
 

$332,100$405,900$369,000

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,361
Property Tax -$764
Property Insurance -$179
HOA -$39
Property Management Fees -$99
CASH FLOW
-$292

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.

$369,000

PROJECTED PRICE

$2,150

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.4%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,535

INVESTMENT

$103,535

Down Payment
$92,250
Rehab Estimate
$5,750
Closing Costs
$5,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,361

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,250
Loan Amount $276,750
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,514

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,230

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0953$2,1504$2,1505$2,150
$2,150
RENT COMPS ANALYSIS
  • 514 Highland Ridge Drive Wylie, TX 5
    • 4 beds 3 baths ∙ 2,631 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,631 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.82
    •  
  • 1903 Fairway Glen Drive Wylie, TX 1
    • 3 beds 2 baths ∙ 2,298 Sqft ∙ Built 2009 3 beds 2 baths ∙ 2,298 Sqft ∙ Built 2009
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.85
    •  
  • 418 Highland Ridge Drive Wylie, TX 2
    • 4 beds 3 baths ∙ 2,501 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,501 Sqft ∙ Built 2010
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.84
    •  
  • 1912 Grand Fairway Drive Wylie, TX 3
    • 3 beds 3 baths ∙ 2,562 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,562 Sqft ∙ Built 2009
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.84
    •  
  • 313 Highland Fairway Lane Wylie, TX 4
    • 4 beds 3 baths ∙ 2,501 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,501 Sqft ∙ Built 2009
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.86
    •  
PROPERTY LISTING DETAILS
Tracy Parker
Re/max Dallas Suburbs
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14460948
Last Updated: 12/04/2020
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