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5326 Rio Mesa Drive Abilene, TX 79606

4 Beds 2 Baths 1,828 sqft Built 2014

$249,900

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $136.71
  • 3 Days on Market
  • MLS # : 14463924
  • Updated Date : 11/01/2020 at 23:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,828 sqft
  • Baths : 2 full
Listing Agent

Tommy Simons & Associates, Realtors

Listing Agent's Description

Very well maintained home in Wylie ISD! This home features an open floor plan with a gorgeous stone fireplace, and a large covered back patio making this an excellent home for entertaining! Home boasts 4 bedrooms with a split floor plan and a great master bedroom which makes this a great home for your family. The location is convenient to everything you need including restaurants, the Wylie Swim Club, and Market Street! This one won't last long, so come see it today!

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

Neighborhood: Far Southside

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $78k236k

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

Neighborhood: Far Southside

NeighborhoodNIR Market*CityMarket2015Year20112019 Q2900100011001200130014001500Rent in $8341588

* 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
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$922
Property Tax -$538
Property Insurance -$131
Property Management Fees -$99
CASH FLOW
$80

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.

$249,900

PROJECTED PRICE

$1,770

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 5.1%
Maintenance Year (1-5) 8.00%
Vacancy 9.90%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$7,643

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,796

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,7704$1,7955$1,895
$1,895
RENT COMPS ANALYSIS
  • 5326 Rio Mesa Drive Abilene, TX 3
    • 4 beds 2 baths ∙ 1,828 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,828 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.97
    •  
  • 5125 Crystal Creek Abilene, TX 1
    • 4 beds 2 baths ∙ 1,795 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,795 Sqft ∙ Built 2003
    LEASED 02/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
  • 5341 Western Plains Avenue Abilene, TX 2
    • 4 beds 2 baths ∙ 1,754 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,754 Sqft ∙ Built 1994
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.97
    •  
  • 7002 Randy Avenue Abilene, TX 4
    • 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 2009
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.97
    •  
  • 7026 Waterway Lane Abilene, TX 5
    • 4 beds 2 baths ∙ 1,774 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,774 Sqft ∙ Built 2007
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.07
    •  
PROPERTY LISTING DETAILS
Alex Whitten
Tommy Simons & Associates, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463924
Last Updated: 11/01/2020
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