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56 Glen Abbey Street Abilene, TX 79606

4 Beds 3 Baths 2,551 sqft Built 1991

$325,000

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $127.40
  • 1 Days on Market
  • MLS # : 14523519
  • Updated Date : 02/27/2021 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,551 sqft
  • Baths : 2 full , 1 half
Listing Agent

Sendero Properties, Llc

Listing Agent's Description

Come see this beautifully updated home in Fairway. You'll love the open, easy living floorplan that has wood floors, crown molding, fresh updated lighting and neutral paint colors throughout. The kitchen is a dream with granite countertops and a perfect breakfast bar to enjoy. You'll love entertaining with the sound system and park like backyard with a playhouse and plenty of room for your dream pool. The upstairs gameroom is a perfect flexible space for a 4th bedroom,man cave, crafting room or playroom for the kids. The spacious master has a wonderful soaking tub, separate shower and his and hers sinks with large closets. An added bonus is the efficient windows and HVAC system to keep utility bills low.

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: Fairway Oaks

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $78k236k

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

Neighborhood: Fairway Oaks

NeighborhoodNIR Market*CityMarket2015Year20112019 Q2100012001400160018002000220024002600Rent in $8342646

* 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 High School High Regular 1,026 67 8
Early Childhood Center Primary Regular 428 25 NA

Wylie Intermediate School

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

Wylie High School

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

Early Childhood Center

  • Education Level: Primary
  • # of students: 428
  • # of teachers: 25
NA
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,129
Property Tax -$700
Property Insurance -$173
HOA -$13
Property Management Fees -$99
CASH FLOW
$117

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.

$325,000

PROJECTED PRICE

$2,230

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 2.6%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$8,344

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,207

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1003$2,1004$2,2005$2,230
$2,230
RENT COMPS ANALYSIS
  • 56 Glen Abbey Street Abilene, TX 5
    • 4 beds 3 baths ∙ 2,551 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,551 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $0.87
    •  
  • 3242 Woodhollow Circle Abilene, TX 1
    • 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 1981
    LEASED 01/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.81
    •  
  • 47 Tamarisk Circle Abilene, TX 2
    • 3 beds 4 baths ∙ 2,499 Sqft ∙ Built 1980 3 beds 4 baths ∙ 2,499 Sqft ∙ Built 1980
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.84
    •  
  • 2526 Woodlake Drive Abilene, TX 3
    • 3 beds 2 baths ∙ 2,399 Sqft ∙ Built 1985 3 beds 2 baths ∙ 2,399 Sqft ∙ Built 1985
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.88
    •  
  • 13 Mission Abilene, TX 4
    • 4 beds 2 baths ∙ 2,361 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,361 Sqft ∙ Built 2002
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.93
    •  
PROPERTY LISTING DETAILS
Katherine Haney
Sendero Properties, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14523519
Last Updated: 02/27/2021
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