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526 Waters Edge Way Murphy, TX 75094

4 Beds 3 Baths 3,013 sqft Built 2006

$469,000

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $155.66
  • 3 Days on Market
  • MLS # : 14538148
  • Updated Date : 03/26/2021 at 04:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,013 sqft
  • Baths : 3 full
Listing Agent

Re/max Dfw Associates

Listing Agent's Description

Look no more! Striking one owner, one story home with new carpet, updated paint colors, high ceilings and a generous flow of space open to the dining, study, living, kitchen & breakfast rooms. You will create a lifetime of memories in this inviting kitchen that features granite countertops, breakfast bar, gas cook-top & stainless appliances. Spectacular floor plan with 4 true bedrooms plus study and 3 full baths. Charming master suite includes bay window, vaulted ceiling, dual vanities, separate shower and tub. Plenty of storage with walk-in closets & oversized laundry room. Updates include roof 2016, water heater 2018, AC 2017 & BOB fence 2018. Exceptionally long driveway for parking & covered patio.

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: Maxwell Creek North

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k458k

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

Neighborhood: Maxwell Creek North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262522

* 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
Tibbals Elementary School Primary Regular 613 37 10
Wylie High School High Regular 2,061 127 9

Tibbals Elementary School

  • Education Level: Primary
  • # of students: 613
  • # of teachers: 37
10
GreatSchools Rating

Wylie High School

  • Education Level: High
  • # of students: 2,061
  • # of teachers: 127
9
GreatSchools Rating
 

$422,100$515,900$469,000

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$1,629
Property Tax -$816
Property Insurance -$201
HOA -$50
Property Management Fees -$99
CASH FLOW
-$406

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.

$469,000

PROJECTED PRICE

$2,390

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.5%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$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$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,035

INVESTMENT

$130,035

Down Payment
$117,250
Rehab Estimate
$5,750
Closing Costs
$7,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,629

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $117,250
Loan Amount $351,750
See What Happens When You Reinvest Cash Flow

0.75

YEARS SAVED

$1,621

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,388

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,3903$2,4004$2,4505$2,495
$2,495
RENT COMPS ANALYSIS
  • 526 Waters Edge Way Murphy, TX 2
    • 4 beds 3 baths ∙ 3,013 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,013 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $0.79
    •  
  • 2923 Hunters Way Wylie, TX 1
    • 4 beds 2 baths ∙ 2,929 Sqft ∙ Built 2009 4 beds 2 baths ∙ 2,929 Sqft ∙ Built 2009
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.75
    •  
  • 101 Devenshire Drive Murphy, TX 3
    • 4 beds 3 baths ∙ 2,956 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,956 Sqft ∙ Built 2000
    LEASED 02/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.81
    •  
  • 2905 Midstream Drive Wylie, TX 4
    • 4 beds 3 baths ∙ 2,996 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,996 Sqft ∙ Built 2006
    LEASED 02/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.82
    •  
  • 413 Brookmere Lane Murphy, TX 5
    • 4 beds 4 baths ∙ 3,169 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,169 Sqft ∙ Built 2004
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.79
    •  
PROPERTY LISTING DETAILS
Rusty Pierce
Re/max Dfw Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14538148
Last Updated: 03/26/2021
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