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617 Marlin Drive Abilene, TX 79602

3 Beds 3 Baths 2,433 sqft Built 2014

$340,000

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $139.75
  • 3 Days on Market
  • MLS # : 14469843
  • Updated Date : 11/13/2020 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,433 sqft
  • Baths : 2 full , 1 half
Listing Agent

Arnold-realtors

Listing Agent's Description

One of a kind beauty with special finishes through out! Gorgeous open kitchen with beautiful granite & breakfast bar. Fantastic backsplash & stunning light fixtures! Gas cooktop fabulous appliances perfect for entertaining! Split bedrooms, 2.5 baths plus small office or second living area. Large master bedroom with amazing master bath featuring separate jetted tub & large walk-in shower. Double sinks, huge walk-in closet. Attention to detail with decorative touches all around. Also 2 nice sized bedrooms with Jack & Jill bath! Large mud room & separate laundry room with storage galore! Wonderful backyard with large covered patio & outdoor kitchen! Enjoy the community pool in the hot summers! Wylie East Schools.

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

Zip Code: 79602

ZipNIR Market*CityMarket2010Year2005 Q3201970k80k90k100k110k120k130k140k150k160k170k180kPrice in $66k189k

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

Zip Code: 79602

ZipNIR Market*CityMarket2015Year20112019 Q28509009501000105011001150120012501300Rent in $8171309

* 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
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,254
Property Tax -$732
Property Insurance -$166
Property Management Fees -$99
CASH FLOW
-$211

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.

$340,000

PROJECTED PRICE

$2,040

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 4.0%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$352

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,092

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,040
$2,040
RENT COMPS ANALYSIS
  • 617 Marlin Drive Abilene, TX 2
    • 3 beds 3 baths ∙ 2,433 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,433 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.84
    •  
  • 742 Mossy Oak Drive Abilene, TX 1
    • 4 beds 2 baths ∙ 2,193 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,193 Sqft ∙ Built 2015
    property image
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.86
    •  
PROPERTY LISTING DETAILS
Jamie Arnold
Arnold-realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469843
Last Updated: 11/13/2020
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