Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

7801 Venice Drive Abilene, TX 79606

4 Beds 2 Baths 1,675 sqft Built 2007

INVESTimate

$219,900

List Price

$1,710

$1,539 - $1,881

Rent Est.

$231,049  ( +5.07%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $131.28
  • 6 Days on Market
  • MLS # : 14416704
  • Updated Date : 08/25/2020 at 17:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,675 sqft
  • Baths : 2 full
Listing Agent

Re/max Of Abilene

Listing Agent's Description

A BEAUTY IN WYLIE SCHOOLS AREA! Amazing home with 4 bedrooms, 2 baths, 2 car garage. Home has an open floor plan concept, with a large gourmet kitchen and plenty of cabinets. Amenities include Engineered wood floors, Samsung appliances, farm sink, granite counter tops, East facing, and a great view in the backyard for privacy, entertaining or relaxing. This is one to see!

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

Neighborhood: Far Southside

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $78k236k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Far Southside

NeighborhoodNIR Market*CityMarket2015Year20112019 Q2900100011001200130014001500Rent in $8341588

* 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
 

$197,910$241,890$219,900

PURCHASE PRICE

$1,539$1,881$1,710

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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 $1,710
EXPENSES Loan Payment -$811
Property Tax -$473
Property Insurance -$123
Property Management Fees -$99
CASH FLOW
$204

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.

$219,900

PROJECTED PRICE

$1,710

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 5.07%
Maintenance Year (1-5) 8.00%
Vacancy 9.90%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,024

INVESTMENT

$64,024

Down Payment
$54,975
Rehab Estimate
$5,750
Closing Costs
$3,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$811

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,975
Loan Amount $164,925
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$16,650

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,709

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7103$1,7254$1,7255$1,795
$1,795
RENT COMPS ANALYSIS
  • 7801 Venice Drive Abilene, TX 2
    • 4 beds 2 baths ∙ 1,675 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,675 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $1.02
    •  
  • 7617 Tuscany Drive Abilene, TX 1
    • 4 beds 2 baths ∙ 1,584 Sqft ∙ Built 2011 4 beds 2 baths ∙ 1,584 Sqft ∙ Built 2011
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.01
    •  
  • 8033 Tuscany Drive Abilene, TX 3
    • 4 beds 2 baths ∙ 1,733 Sqft ∙ Built 2012 4 beds 2 baths ∙ 1,733 Sqft ∙ Built 2012
    LEASED 01/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.00
    •  
  • 7650 Venice Drive Abilene, TX 4
    • 4 beds 2 baths ∙ 1,718 Sqft ∙ Built 2009 4 beds 2 baths ∙ 1,718 Sqft ∙ Built 2009
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.00
    •  
  • 7801 Tuscany Drive Abilene, TX 5
    • 4 beds 2 baths ∙ 1,682 Sqft ∙ Built 2012 4 beds 2 baths ∙ 1,682 Sqft ∙ Built 2012
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.07
    •  
PROPERTY LISTING DETAILS
Janet Batiste
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 #: 14416704
Last Updated: 08/25/2020
BESbswy