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517 Mossy Oak Drive Abilene, TX 79602

4 Beds 2 Baths 2,286 sqft Built 2014

INVESTimate

$319,900

List Price

$2,090

$1,881 - $2,299

Rent Est.

$332,696  ( +4.00%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $139.94
  • 2 Days on Market
  • MLS # : 14419965
  • Updated Date : 08/25/2020 at 11:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,286 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservices Stovall, Realtors

Listing Agent's Description

Welcome to the warm and inviting 517 Mossy Oak Drive! Nestled in the luxurious Lone Star Subdivision, this 4 bed, 2 bath home is stunning from floor to ceiling! Rich, honey-hued tones can be found throughout in both the trimwork and wood floors. A gourmet kitchen awaits, featuring a massive island, gas range, and quartz counters. Entertaining is a breeze with the open-concept living, kitchen and dining areas. Escape to the masterbath oasis featuring double sinks, a soaking tub, and walk-in shower. Bonus features include a cozy, separate office with custom built-ins, a media closet with central wiring to living and master TVs, community pool, and fantastic outdoor escape! What are you waiting for - Welcome home!

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: 79602

ZipNIR Market*CityMarket2010Year2005 Q3201970k80k90k100k110k120k130k140k150k160k170k180kPrice in $66k189k

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

Zip Code: 79602

ZipNIR Market*CityMarket2015Year20112019 Q28509009501000105011001150120012501300Rent in $8171309

* 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
Wylie Intermediate School Primary Regular 618 34 8
Wylie Junior High School Middle Regular 625 37 9
Wylie High School High Regular 1,026 67 8

Wylie Intermediate School

  • Education Level: Primary
  • # of students: 618
  • # of teachers: 34
8
GreatSchools Rating

Wylie Junior High School

  • Education Level: Middle
  • # of students: 625
  • # of teachers: 37
9
GreatSchools Rating

Wylie High School

  • Education Level: High
  • # of students: 1,026
  • # of teachers: 67
8
GreatSchools Rating
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

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-$6.0k-$4.0k-$2.0k$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$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,180
Property Tax -$689
Property Insurance -$158
HOA -$30
Property Management Fees -$99
CASH FLOW
-$66

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 18% of earned rent to cover both maintenance and periods of vacancy.

$319,900

PROJECTED PRICE

$2,090

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 4.00%
Maintenance Year (1-5) 8.00%
Vacancy 9.90%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,180

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,539

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,069

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,7953$1,8954$1,8955$2,090
$2,090
RENT COMPS ANALYSIS
  • 517 Mossy Oak Drive Abilene, TX 5
    • 4 beds 2 baths ∙ 2,286 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,286 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.91
    •  
  • 702 Lone Star Drive Abilene, TX 1
    • 4 beds 2 baths ∙ 1,936 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,936 Sqft ∙ Built 2005
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.92
    •  
  • 5133 Many Waters Drive Abilene, TX 2
    • 4 beds 2 baths ∙ 1,962 Sqft ∙ Built 2013 4 beds 2 baths ∙ 1,962 Sqft ∙ Built 2013
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.91
    •  
  • 742 Mossy Oak Drive Abilene, TX 3
    • 4 beds 2 baths ∙ 2,193 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,193 Sqft ∙ Built 2015
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.86
    •  
  • 602 Turkey Run Abilene, TX 4
    • 3 beds 2 baths ∙ 2,031 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,031 Sqft ∙ Built 2005
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.93
    •  
PROPERTY LISTING DETAILS
Lydia Grandell
Berkshire Hathaway Homeservices Stovall, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419965
Last Updated: 08/25/2020
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