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7033 Jennings Drive Abilene, TX 79606

3 Beds 2 Baths 1,800 sqft Built 2020

$249,900

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $138.83
  • 2 Days on Market
  • MLS # : 14475566
  • Updated Date : 11/21/2020 at 10:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,800 sqft
  • Baths : 2 full
Listing Agent

Tommy Simons & Associates, Realtors

Listing Agent's Description

Another Beautiful New Construction built by A Plus Quality Homes. This Home will Feature 3 Bedrooms 2 Baths, Open Floor Plan, Wood Burning Fireplace, Side Entry Garage, Large Corner Lot! Near Dyess, Close to Schools, Shopping and Dining! Privacy Fence, Sprinklers and Sod will be added with Full Price. Builder 2-10 Warranty Included! Estimated Completion Date March 2021

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

Zip Code: 79606

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $78k236k

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

Zip Code: 79606

ZipNIR Market*CityMarket2015Year20112019 Q285090095010001050110011501200125013001350140014501500Rent in $8341531

* 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
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$922
Property Tax -$538
Property Insurance -$130
Property Management Fees -$99
CASH FLOW
$41

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.

$249,900

PROJECTED PRICE

$1,730

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 4.8%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,224

INVESTMENT

$68,224

Down Payment
$62,475
Rehab Estimate
$2,000
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$5,654

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,758

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,7303$1,7954$2,495
$2,495
RENT COMPS ANALYSIS
  • 7033 Jennings Drive Abilene, TX 2
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.96
    •  
  • 7726 Antilley Road Abilene, TX 1
    • 4 beds 2 baths ∙ 2,128 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,128 Sqft ∙ Built 2005
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.66
    •  
  • 4510 Crosley Lane Abilene, TX 3
    • 3 beds 2 baths ∙ 1,771 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,771 Sqft ∙ Built 2018
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.01
    •  
  • 8402 Ridge Abilene, TX 4
    • 4 beds 2 baths ∙ 1,977 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,977 Sqft ∙ Built 2018
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.26
    •  
PROPERTY LISTING DETAILS
Deborah Church
Tommy Simons & Associates, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475566
Last Updated: 11/21/2020
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