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6610 Cedar Elm Drive Abilene, TX 79606

4 Beds 3 Baths 2,364 sqft Built 2020

$349,900

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $148.01
  • 2 Days on Market
  • MLS # : 14465759
  • Updated Date : 11/07/2020 at 12:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,364 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Another fabulous home built by Ron Boyd Custom Homes with attention to every detail. This established builder has over 50 years of excellence and knows every step of the home building process and is very involved from start to finish. You can't ask for more in a builder! This spacious 4 bed 3 bath home is perfect for entertaining and has an open floor plan that you will fall in love with. Gorgeous wood floors in the living room and in the Master Bedroom with carpet only in the secondary rooms. Sprinkler system, sod, 6 ft cedar privacy fence, and a flower bed are all included at the list price. See this gem today! Buyer to verify all measurements. Measurements were rounded.

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
 

$314,910$384,890$349,900

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$1,291
Property Tax -$753
Property Insurance -$162
HOA -$50
Property Management Fees -$99
CASH FLOW
-$85

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$349,900

PROJECTED PRICE

$2,270

PROJECTED RENT

0.65%

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) 3.00%
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-$6.0k-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,724

INVESTMENT

$94,724

Down Payment
$87,475
Rehab Estimate
$2,000
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$2,390

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,246

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,0953$2,1954$2,2705$2,350
$2,350
RENT COMPS ANALYSIS
  • 6610 Cedar Elm Drive Abilene, TX 4
    • 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $0.96
    •  
  • 5325 Springwater Abilene, TX 1
    • 4 beds 3 baths ∙ 2,046 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,046 Sqft ∙ Built 2009
    property image
    LEASED 08/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.93
    •  
  • 6326 Milestone Drive Abilene, TX 2
    • 3 beds 2 baths ∙ 2,307 Sqft ∙ Built 2014 3 beds 2 baths ∙ 2,307 Sqft ∙ Built 2014
    property image
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.91
    •  
  • 4833 Velta Lane Abilene, TX 3
    • 4 beds 3 baths ∙ 2,479 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,479 Sqft ∙ Built 2013
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.89
    •  
  • 5341 Rio Mesa Drive Abilene, TX 5
    • 4 beds 2 baths ∙ 2,204 Sqft ∙ Built 2013 4 beds 2 baths ∙ 2,204 Sqft ∙ Built 2013
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.07
    •  
PROPERTY LISTING DETAILS
Charlen Glidden
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 #: 14465759
Last Updated: 11/07/2020
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