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7065 Mcleod Drive Abilene, TX 79602

3 Beds 2 Baths 1,900 sqft Built 2015

$254,900

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $134.16
  • 3 Days on Market
  • MLS # : 14478997
  • Updated Date : 12/04/2020 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,900 sqft
  • Baths : 2 full
Listing Agent

Re/max Of Abilene

Listing Agent's Description

SOUTHLAKE BEAUTY - RELAXING BACKYARD PARADISE - this beautiful home offers open living area with beautiful, brick corner fireplace, spacious kitchen with new lighting & walk in pantry. The amazing oversized master suite offers lovely onsuite bath with spacious wrap-around master closet. The newly improved backyard offers new 20x30 concrete entertaining space with pergola with outdoor lighting features. Also added lovely landscaping with added flower bed. The storage building will be removed unless buyer wants to purchase separately. Sprinkler system in front & back yards, freshly painted exterior. Large utility room has been updated with new cabinetry. Close to Wylie schools. Don't miss this lovely home.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

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 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
 

$229,410$280,390$254,900

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$940
Property Tax -$549
Property Insurance -$136
HOA -$10
Property Management Fees -$99
CASH FLOW
$86

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.

$254,900

PROJECTED PRICE

$1,820

PROJECTED RENT

0.71%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,299

INVESTMENT

$73,299

Down Payment
$63,725
Rehab Estimate
$5,750
Closing Costs
$3,824

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$940

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,725
Loan Amount $191,175
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$7,937

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,843

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7953$1,7954$1,8205$1,895
$1,895
RENT COMPS ANALYSIS
  • 7065 Mcleod Drive Abilene, TX 4
    • 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.96
    •  
  • 349 Whiterock Drive Abilene, TX 1
    • 4 beds 2 baths ∙ 1,809 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,809 Sqft ∙ Built 2015
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.94
    •  
  • 7157 Mcleod Drive Abilene, TX 2
    • 4 beds 2 baths ∙ 1,807 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,807 Sqft ∙ Built 2015
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.99
    •  
  • 7049 Mcleod Drive Abilene, TX 3
    • 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
    •  
  • 7225 Raven Court Abilene, TX 5
    • 3 beds 2 baths ∙ 1,947 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,947 Sqft ∙ Built 2016
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.97
    •  
PROPERTY LISTING DETAILS
Becky Spivey
Re/max Of Abilene
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14478997
Last Updated: 12/04/2020
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