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719 Rainsville Wylie, TX 75098

3 Beds 2 Baths 1,780 sqft Built 2005

$259,900

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $146.01
  • 3 Days on Market
  • MLS # : 14484892
  • Updated Date : 12/18/2020 at 15:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,780 sqft
  • Baths : 2 full
Listing Agent

Arbrook Realty Group, Llc

Listing Agent's Description

Delightful home has an attractive drive-up appeal with shutters, covered front porch, open living-dining concept, boasting a decorative fireplace; built-in microwave, plant ledges above kitchen cabinets, split master bedroom. Updates include roof, laminate wood flooring, bathroom renovated with dynamic updated lighting package, neutral paint, large backyard. Swingset stays.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
Davis Intermediate School Primary Regular 692 42 8
Frank Mcmillan Junior High School Middle Regular 656 43 10
Wylie East High School High Regular 1,718 109 8

Davis Intermediate School

  • Education Level: Primary
  • # of students: 692
  • # of teachers: 42
8
GreatSchools Rating

Frank Mcmillan Junior High School

  • Education Level: Middle
  • # of students: 656
  • # of teachers: 43
10
GreatSchools Rating

Wylie East High School

  • Education Level: High
  • # of students: 1,718
  • # of teachers: 109
8
GreatSchools Rating
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$959
Property Tax -$538
Property Insurance -$130
HOA -$24
Property Management Fees -$99
CASH FLOW
-$30

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.

$259,900

PROJECTED PRICE

$1,720

PROJECTED RENT

0.66%

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$200k$400k$600k$800k

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$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$11,713

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,731

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,5953$1,6504$1,7205$1,795
$1,795
RENT COMPS ANALYSIS
  • 719 Rainsville Wylie, TX 4
    • 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.97
    •  
  • 505 Crenshaw Drive Wylie, TX 1
    • 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 2004
    LEASED 01/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.00
    •  
  • 602 Linden Avenue Wylie, TX 2
    • 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 2004
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.00
    •  
  • 801 Ann Drive Wylie, TX 3
    • 3 beds 2 baths ∙ 1,707 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,707 Sqft ∙ Built 2004
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.97
    •  
  • 604 Cottondale Lane Wylie, TX 5
    • 4 beds 2 baths ∙ 1,953 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,953 Sqft ∙ Built 2005
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.92
    •  
PROPERTY LISTING DETAILS
Roz Booker
Arbrook Realty Group, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14484892
Last Updated: 12/18/2020
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