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7433 Lake Ridge Parkway Abilene, TX 79602

3 Beds 2 Baths 1,693 sqft Built 2020

INVESTimate

$232,000

List Price

$1,850

$1,665 - $2,035

Rent Est.

$241,280  ( +4.00%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $137.03
  • 2 Days on Market
  • MLS # : 14420517
  • Updated Date : 08/26/2020 at 04:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,693 sqft
  • Baths : 2 full
Listing Agent

Acr-ann Carr Realtors

Listing Agent's Description

BRO CUSTOM HOMES inviting entry with oversized black front steel door and welcoming foyer open onto the expansive great room and views to the desirable patio beyond. The well-equipped kitchen overlooks a bright casual dining area, and is complete with a large center island with breakfast bar, plenty of counter and cabinet space, and roomy walk-in pantry. The lovely primary suite is highlighted by generous walk-in closet that attaches to laundry room for convenience, and deluxe master bath with dual-sink vanity, large garden tub, and walk in shower. Secondary bedrooms are spacious bedrooms with plenty of natural light with vinyl plank flooring throughout.360 virtual tour in picture gallery. 45 day completion

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: 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
 

$208,800$255,200$232,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

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$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$856
Property Tax -$500
Property Insurance -$124
HOA -$21
Property Management Fees -$99
CASH FLOW
$251

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$232,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.80%

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) 3.00%
Vacancy 9.90%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$63,480

INVESTMENT

$63,480

Down Payment
$58,000
Rehab Estimate
$2,000
Closing Costs
$3,480

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$856

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,000
Loan Amount $174,000
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$23,145

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,862

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7953$1,8504$1,875
$1,875
RENT COMPS ANALYSIS
  • 7433 Lake Ridge Parkway Abilene, TX 3
    • 3 beds 2 baths ∙ 1,693 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,693 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.09
    •  
  • 249 Sweet Pea Path Abilene, TX 1
    • 3 beds 2 baths ∙ 1,591 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,591 Sqft ∙ Built 2019
    LEASED 05/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.10
    •  
  • 132 Carriage Hills Parkway Abilene, TX 2
    • 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 2019
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.10
    •  
  • 129 Carriage Hills Parkway Abilene, TX 4
    • 4 beds 2 baths ∙ 1,703 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,703 Sqft ∙ Built 2019
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.10
    •  
PROPERTY LISTING DETAILS
Ann Carr
Acr-ann Carr Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14420517
Last Updated: 08/26/2020
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