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711 S Jackson Avenue Wylie, TX 75098

3 Beds 2 Baths 1,754 sqft Built 2013

$265,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $151.08
  • 3 Days on Market
  • MLS # : 14513083
  • Updated Date : 02/06/2021 at 11:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,754 sqft
  • Baths : 2 full
Listing Agent

Mersal Realty

Listing Agent's Description

Location, location, location! Lots of possibilities with this cozy 3 bedroom, 2 bath home. This home has been totally updated, brand new kitchen and bathrooms, third bedroom is in the attic. Everything is new, HVAC, water heather, kitchen appliances. Backyard is a Texas weather paradise with full roofed yard, with a complete outdoors kitchen with grill and stove, no need to cook inside when you have this amazing patio! In addition to that, extra space to build to suit on the backyard second floor where you can easily add two rooms and an extra bathroom or a man cave you name it! Have I mentioned is located right in Wylie's downtown? All information to be verified by buyer-buyer's agent.

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: 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
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$920
Property Tax -$548
Property Insurance -$129
Property Management Fees -$99
CASH FLOW
-$176

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.

$265,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.57%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$2,201

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,763

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,520
1$1,5202$1,7503$1,7954$1,8505$1,850
$1,850
RENT COMPS ANALYSIS
  • 711 S Jackson Avenue Wylie, TX 1
    • 3 beds 2 baths ∙ 1,754 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,754 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.87
    •  
  • 213 Lake Travis Drive Wylie, TX 2
    • 4 beds 2 baths ∙ 1,688 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,688 Sqft ∙ Built 2001
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.04
    •  
  • 1301 Red River Drive Wylie, TX 3
    • 4 beds 2 baths ∙ 1,893 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,893 Sqft ∙ Built 2008
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.95
    •  
  • 222 Silvercreek Drive Wylie, TX 4
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2007
    LEASED 04/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.03
    •  
  • 1304 Red River Drive Wylie, TX 5
    • 4 beds 2 baths ∙ 1,856 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,856 Sqft ∙ Built 2005
    LEASED 01/31/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.00
    •  
PROPERTY LISTING DETAILS
Laura Martinez
Mersal Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14513083
Last Updated: 02/06/2021
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