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713 Hammond Drive Wylie, TX 75098

5 Beds 4 Baths 3,256 sqft Built 2018

INVESTimate

$399,999

List Price

$2,200

$1,980 - $2,420

Rent Est.

$435,399  ( +8.85%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $122.85
  • 6 Days on Market
  • MLS # : 14418617
  • Updated Date : 08/22/2020 at 15:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,256 sqft
  • Baths : 3 full , 1 half
Listing Agent

Compass Re Texas, Llc.

Listing Agent's Description

Fantastic Bloomfield home in Stone Ranch, Built in 2018 the home has a bunch of bells and whistles with 5 bedrooms (master down), 3.1 bathrooms, two living areas, office (or flex room) and a 3 car garage all with 3,256 square feet of living space. Stone Ranch is located in award winning Wylie ISD and comes with a community park and trails too enjoy. Schedule your appointment today!

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: 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
 

$359,999$439,999$399,999

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,476
Property Tax -$828
Property Insurance -$215
HOA -$25
Property Management Fees -$99
CASH FLOW
-$443

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.

$399,999

PROJECTED PRICE

$2,200

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.85%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $299,999
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$512

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $2,393

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,2003$2,3004$2,3505$2,500
$2,500
RENT COMPS ANALYSIS
  • 713 Hammond Drive Wylie, TX 2
    • 5 beds 4 baths ∙ 3,256 Sqft ∙ Built 2018 5 beds 4 baths ∙ 3,256 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.68
    •  
  • 300 Highland Fairway Lane Wylie, TX 1
    • 5 beds 4 baths ∙ 3,120 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,120 Sqft ∙ Built 2007
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.67
    •  
  • 1909 Fairlake Drive Wylie, TX 3
    • 4 beds 3 baths ∙ 3,177 Sqft ∙ Built 2008 4 beds 3 baths ∙ 3,177 Sqft ∙ Built 2008
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.72
    •  
  • 419 Fairland Drive Wylie, TX 4
    • 4 beds 3 baths ∙ 3,124 Sqft ∙ Built 2011 4 beds 3 baths ∙ 3,124 Sqft ∙ Built 2011
    LEASED 01/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.75
    •  
  • 2117 Highland Drive Wylie, TX 5
    • 5 beds 4 baths ∙ 3,138 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,138 Sqft ∙ Built 2005
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.80
    •  
PROPERTY LISTING DETAILS
Bill Greenwald
Compass Re Texas, Llc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418617
Last Updated: 08/22/2020
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