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7033 Mcleod Drive Abilene, TX 79602

4 Beds 2 Baths 2,086 sqft Built 2017

INVESTimate

$280,000

List Price

$2,100

$1,890 - $2,310

Rent Est.

$291,200  ( +4.00%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $134.23
  • 8 Days on Market
  • MLS # : 14416382
  • Updated Date : 08/22/2020 at 09:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,086 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

You better hurry to see this gorgeous, like new home in the sought after Southlake Estates subdivision! Conveniently located near Kirby Lake, fishing dock, trails, park and ball fields! The open layout boasts a gorgeous stone fireplace, crown molding, a large center island in the kitchen, granite counters and stainless steel appliances! The tall ceilings and warm colors make this the perfect space for family to hang out and entertain! Hardwood look tile throughout with carpet only in the bedrooms. The private master offers a jetted tub for relaxing, a separate shower and a great walk in closet. Beautifully landscaped and the lush grass yard complete with sprinkler system and rain gutters. Wylie School District!

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: 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

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,033
Property Tax -$603
Property Insurance -$146
HOA -$10
Property Management Fees -$99
CASH FLOW
$209

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.

$280,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 4.00%
Maintenance Year (1-5) 8.00%
Vacancy 9.90%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$17,142

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,081

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,8953$1,9504$2,1005$2,150
$2,150
RENT COMPS ANALYSIS
  • 7033 Mcleod Drive Abilene, TX 4
    • 4 beds 2 baths ∙ 2,086 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,086 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.01
    •  
  • 7225 Raven Court Abilene, TX 1
    • 3 beds 2 baths ∙ 1,947 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,947 Sqft ∙ Built 2016
    property image
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.97
    •  
  • 301 Southlake Drive Abilene, TX 2
    • 4 beds 2 baths ∙ 1,947 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,947 Sqft ∙ Built 2014
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.97
    •  
  • 7210 Mcleod Drive Abilene, TX 3
    • 4 beds 2 baths ∙ 1,991 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,991 Sqft ∙ Built 2017
    property image
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.98
    •  
  • 7210 Raven Court Abilene, TX 5
    • 4 beds 2 baths ∙ 2,010 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,010 Sqft ∙ Built 2016
    property image
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.07
    •  
PROPERTY LISTING DETAILS
Kathy Sanders
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 #: 14416382
Last Updated: 08/22/2020
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