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5510 Piping Rock Drive Abilene, TX 79606

3 Beds 2 Baths 2,023 sqft Built 1985

$239,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $118.14
  • 5 Days on Market
  • MLS # : 14497614
  • Updated Date : 01/15/2021 at 19:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,023 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Beautiful home in the Woodlake Subdivision. Perfect floorplan with a spacious living room with WB fireplace and wet bar, amazing dining room off the kitchen with built-ins from floor to ceiling. Split floor plan with a large master bathroom and closet! Spacious kitchen with plenty of counter space. Storage building, refrigerators, washer and dryer will convey. Enjoy the peaceful backyard. Alley access to the garage. Professional pictures coming soon.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Chimney Rock Area

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $78k236k

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

Neighborhood: Chimney Rock Area

NeighborhoodNIR Market*CityMarket2015Year20112019 Q285090095010001050110011501200125013001350140014501500Rent in $8341531

* 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
Ward Elementary School Primary Regular 550 31 6
Madison Middle School Middle Regular 900 62 4
Cooper High School High Regular 1,806 135 4

Ward Elementary School

  • Education Level: Primary
  • # of students: 550
  • # of teachers: 31
6
GreatSchools Rating

Madison Middle School

  • Education Level: Middle
  • # of students: 900
  • # of teachers: 62
4
GreatSchools Rating

Cooper High School

  • Education Level: High
  • # of students: 1,806
  • # of teachers: 135
4
GreatSchools Rating
 

$215,100$262,900$239,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$830
Property Tax -$515
Property Insurance -$143
Property Management Fees -$99
CASH FLOW
$74

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.

$239,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 4.2%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,085

INVESTMENT

$69,085

Down Payment
$59,750
Rehab Estimate
$5,750
Closing Costs
$3,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$830

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,750
Loan Amount $179,250
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$5,488

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,664

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,4953$1,5504$1,6605$1,850
$1,850
RENT COMPS ANALYSIS
  • 5510 Piping Rock Drive Abilene, TX 4
    • 3 beds 2 baths ∙ 2,023 Sqft ∙ Built 1985 3 beds 2 baths ∙ 2,023 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.82
    •  
  • 4833 Mourning Dove Lane Abilene, TX 1
    • 3 beds 2 baths ∙ 1,896 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,896 Sqft ∙ Built 1980
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.79
    •  
  • 9 Wynrush Circle Abilene, TX 2
    • 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 1983
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.82
    •  
  • 2501 Stonecrest Drive Abilene, TX 3
    • 3 beds 2 baths ∙ 1,919 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,919 Sqft ∙ Built 1978
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.81
    •  
  • 56 Tamarisk Circle Abilene, TX 5
    • 3 beds 3 baths ∙ 2,137 Sqft ∙ Built 1981 3 beds 3 baths ∙ 2,137 Sqft ∙ Built 1981
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.87
    •  
PROPERTY LISTING DETAILS
Jodi Hankins
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14497614
Last Updated: 01/15/2021
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