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7025 Mcleod Drive Abilene, TX 79602

4 Beds 3 Baths 2,144 sqft Built 2017

$298,900

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $139.41
  • 3 Days on Market
  • MLS # : 14516816
  • Updated Date : 02/12/2021 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,144 sqft
  • Baths : 2 full , 1 half
Listing Agent

Sendero Properties, Llc

Listing Agent's Description

Nestled in the picturesque Southlake Estates near the new Wylie Elementary, this custom built home is turnkey and move-in ready! Boasting an open concept, split layout and high end finishes throughout, this home truly has to be experienced in person. Charming curb appeal, covered porches, crown molding, vaulted ceilings, and a perfect utilization of space are just a few of the features that make this stunning home one of a kind. The kitchen is straight out of a magazine, featuring luxurious granite countertops, spacious eat in island, pot filler, walk-in pantry and GE profile stainless steel appliances! gorgeous stone wood burning fireplace, sizeable back yard. See addenda for list of features! Welcome Home!

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 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
 

$269,010$328,790$298,900

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,038
Property Tax -$644
Property Insurance -$149
HOA -$10
Property Management Fees -$99
CASH FLOW
$50

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.

$298,900

PROJECTED PRICE

$1,990

PROJECTED RENT

0.67%

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$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

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$84,959

INVESTMENT

$84,959

Down Payment
$74,725
Rehab Estimate
$5,750
Closing Costs
$4,484

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,038

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,725
Loan Amount $224,175
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$5,158

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,058

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,7953$1,8954$1,9505$1,990
$1,990
RENT COMPS ANALYSIS
  • 7025 Mcleod Drive Abilene, TX 5
    • 3 beds 3 baths ∙ 2,144 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,144 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.93
    •  
  • 7049 Mcleod Drive Abilene, TX 1
    • 3 beds 2 baths ∙ 1,826 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,826 Sqft ∙ Built 2015
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.98
    •  
  • 5133 Many Waters Drive Abilene, TX 2
    • 4 beds 2 baths ∙ 1,962 Sqft ∙ Built 2013 4 beds 2 baths ∙ 1,962 Sqft ∙ Built 2013
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.91
    •  
  • 301 Southlake Drive Abilene, TX 3
    • 4 beds 2 baths ∙ 1,947 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,947 Sqft ∙ Built 2014
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.97
    •  
  • 7210 Mcleod Drive Abilene, TX 4
    • 4 beds 2 baths ∙ 1,991 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,991 Sqft ∙ Built 2017
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.98
    •  
PROPERTY LISTING DETAILS
Caleb Fullerton
Sendero Properties, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14516816
Last Updated: 02/12/2021
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