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610 Lone Ridge Way Murphy, TX 75094

4 Beds 3 Baths 3,027 sqft Built 2008

$410,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $135.45
  • 4 Days on Market
  • MLS # : 14516365
  • Updated Date : 02/20/2021 at 08:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,027 sqft
  • Baths : 2 full , 1 half
Listing Agent

Williams Trew Real Estate

Listing Agent's Description

MULTIPLE OFFERS :: DEADLINE SUNDAY 2-21 at 10PM!! Immaculately maintained two story on large quarter acre lot. Boasting soaring ceilings, natural light, downstairs offers wood floors, separate dining, formal living, office, half bath, wood-burning fireplace, open concept living to kitchen with custom cherry cabinets, granite counters, island, breakfast bar, SS appliances, built-in wine bar, eat-in kitchen. First floor master suite w dual sinks, his & her walk-in closets, soaking tub, separate shower. Escape upstairs w a large game room, three guest bedrooms, guest bathroom, and an abundance of storage throughout. Large private backyard w an extended patio, great for entertaining.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: The Gables at North Hill

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k399k

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

Neighborhood: The Gables at North Hill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100220023002400Rent in $11262469

* 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
 

$369,000$451,000$410,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,424
Property Tax -$714
Property Insurance -$202
HOA -$42
Property Management Fees -$99
CASH FLOW
-$260

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.

$410,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.9%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,424

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,781

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,361

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,2203$2,4504$2,4505$2,500
$2,500
RENT COMPS ANALYSIS
  • 610 Lone Ridge Way Murphy, TX 2
    • 4 beds 3 baths ∙ 3,027 Sqft ∙ Built 2008 4 beds 3 baths ∙ 3,027 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.73
    •  
  • 429 Ponderosa Trail Murphy, TX 1
    • 4 beds 3 baths ∙ 2,834 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,834 Sqft ∙ Built 2003
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.71
    •  
  • 341 Apache Trail Murphy, TX 3
    • 4 beds 4 baths ∙ 3,193 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,193 Sqft ∙ Built 2006
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.77
    •  
  • 3012 Reagenea Drive Wylie, TX 4
    • 4 beds 4 baths ∙ 3,019 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,019 Sqft ∙ Built 2006
    LEASED 02/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.81
    •  
  • 3024 Hinnant Drive Wylie, TX 5
    • 5 beds 4 baths ∙ 2,997 Sqft ∙ Built 2006 5 beds 4 baths ∙ 2,997 Sqft ∙ Built 2006
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.83
    •  
PROPERTY LISTING DETAILS
Ashley Hanson
Williams Trew Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14516365
Last Updated: 02/20/2021
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