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701 Flagstone Way Wylie, TX 75098

4 Beds 2 Baths 1,713 sqft Built 2000

$269,900

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $157.56
  • 3 Days on Market
  • MLS # : 14517915
  • Updated Date : 02/12/2021 at 03:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,713 sqft
  • Baths : 2 full
Listing Agent

Robert Elliott And Associates

Listing Agent's Description

Beautiful 4 bedroom 2 bedroom home on large corner lot! This home is meticulously maintained and has too many upgrades to list! Located on a quiet, low traffic street. The floor plan features a private master suite, with an open living and dining room. The 4th bedroom is currently a family room, and makes for a wonderful flex space option. This covered patio and back yard are a dream for any buyer!

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: 75098

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75098

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
R.f. Hartman Elementary School Primary Regular 495 31 9
Grady Burnett Junior High School Middle Regular 725 43 9
Wylie East High School High Regular 1,718 109 8

R.f. Hartman Elementary School

  • Education Level: Primary
  • # of students: 495
  • # of teachers: 31
9
GreatSchools Rating

Grady Burnett Junior High School

  • Education Level: Middle
  • # of students: 725
  • # of teachers: 43
9
GreatSchools Rating

Wylie East High School

  • Education Level: High
  • # of students: 1,718
  • # of teachers: 109
8
GreatSchools Rating
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$937
Property Tax -$558
Property Insurance -$126
Property Management Fees -$99
CASH FLOW
-$71

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.

$269,900

PROJECTED PRICE

$1,650

PROJECTED RENT

0.61%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$937

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$7,300

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,674

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,6754$1,7505$1,795
$1,795
RENT COMPS ANALYSIS
  • 701 Flagstone Way Wylie, TX 2
    • 4 beds 2 baths ∙ 1,713 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,713 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.96
    •  
  • 609 Willow Way Wylie, TX 1
    • 4 beds 2 baths ∙ 1,676 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,676 Sqft ∙ Built 1983
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.95
    •  
  • 706 Meadow Lane Wylie, TX 3
    • 3 beds 2 baths ∙ 1,839 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,839 Sqft ∙ Built 1986
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.91
    •  
  • 709 Westwind Way Wylie, TX 4
    • 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 1986
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.05
    •  
  • 318 Highland Fairway Lane Wylie, TX 5
    • 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 2007
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.00
    •  
PROPERTY LISTING DETAILS
Ashley Dugas
Robert Elliott And Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14517915
Last Updated: 02/12/2021
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