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823 Greene Way Wylie, TX 75098

3 Beds 3 Baths 1,234 sqft Built 2003

$224,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $181.52
  • 3 Days on Market
  • MLS # : 14486203
  • Updated Date : 01/15/2021 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,234 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin Corporation

Listing Agent's Description

Incredibly charming 3 bedroom home situated in established neighborhood. Livable floor plan with great flow & no wasted space! Highlights include eat-in kitchen with a pantry and plenty of cabinets and counter space perfect for hosting and entertaining! Additional features include 2 car garage, spacious bedrooms, laminate wood floors and ceramic tile through the mains areas, and large yard space perfect for summer parties and backyard BBQ! Close proximity to shops, lake, golf club, park, and dining options! Don't miss out! Come make this gem your perfect home sweet home!

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
 

$201,600$246,400$224,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$778
Property Tax -$382
Property Insurance -$99
HOA -$18
Property Management Fees -$99
CASH FLOW
$105

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.

$224,000

PROJECTED PRICE

$1,480

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,110

INVESTMENT

$65,110

Down Payment
$56,000
Rehab Estimate
$5,750
Closing Costs
$3,360

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$778

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,000
Loan Amount $168,000
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$19,531

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $1,348

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,480
1$1,4802$1,5503$1,5954$1,5955$1,595
$1,595
RENT COMPS ANALYSIS
  • 823 Greene Way Wylie, TX 1
    • 3 beds 3 baths ∙ 1,234 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,234 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $1.20
    •  
  • 826 Greene Way Wylie, TX 2
    • 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 2003
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.07
    •  
  • 911 Greene Way Wylie, TX 3
    • 3 beds 3 baths ∙ 1,446 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,446 Sqft ∙ Built 2003
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.10
    •  
  • 914 Chickesaw Lane Wylie, TX 4
    • 3 beds 3 baths ∙ 1,446 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,446 Sqft ∙ Built 2003
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.10
    •  
  • 915 Carlton Road Wylie, TX 5
    • 3 beds 3 baths ∙ 1,446 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,446 Sqft ∙ Built 2003
    LEASED 05/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.10
    •  
PROPERTY LISTING DETAILS
Sean Arago
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14486203
Last Updated: 01/15/2021
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