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516 Sun Meadow Drive Wylie, TX 75098

3 Beds 2 Baths 2,589 sqft Built 2019

$419,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $161.84
  • 4 Days on Market
  • MLS # : 14480488
  • Updated Date : 12/03/2020 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,589 sqft
  • Baths : 2 full
Listing Agent

Jagjit Singh

Listing Agent's Description

Ask about our MEGAsale promotion of 6 months mortgage on us. Megatel Homes will credit the first 6 months of your new mortgage payment. See your community sales consultant for full details. contract and MEGA sale addendum must be signed between July 23rd, 2020 through December 31st, 2020. Mortgage payment refers to principal and interest only. Additional restrictions apply. Megatel Homes reserves the right to change or cancel the program at any time.

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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

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
 

$377,100$460,900$419,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,546
Property Tax -$867
Property Insurance -$177
HOA -$42
Property Management Fees -$99
CASH FLOW
-$830

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$419,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.45%

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) 3.00%
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-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$113,035

INVESTMENT

$113,035

Down Payment
$104,750
Rehab Estimate
$2,000
Closing Costs
$6,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,546

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $104,750
Loan Amount $314,250
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$26

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,214

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9953$2,0454$2,2505$2,350
$2,350
RENT COMPS ANALYSIS
  • 516 Sun Meadow Drive Wylie, TX 1
    • 3 beds 2 baths ∙ 2,589 Sqft ∙ Built 2019 3 beds 2 baths ∙ 2,589 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.73
    •  
  • 1222 Iron Horse Street Wylie, TX 2
    • 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
    •  
  • 209 Forestbrook Drive Wylie, TX 3
    • 4 beds 3 baths ∙ 2,436 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,436 Sqft ∙ Built 2008
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,045
    • $0.84
    •  
  • 1914 Doves Landing Lane Wylie, TX 4
    • 4 beds 2 baths ∙ 2,425 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,425 Sqft ∙ Built 2019
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.93
    •  
  • 1506 Canyon Creek Road Wylie, TX 5
    • 4 beds 2 baths ∙ 2,709 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,709 Sqft ∙ Built 2016
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.87
    •  
PROPERTY LISTING DETAILS
Jagjit Singh
Jagjit Singh
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14480488
Last Updated: 12/03/2020
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