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8402 Ridge Abilene, TX 79606

4 Beds 2 Baths 1,977 sqft Built 2018

$319,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $161.36
  • 3 Days on Market
  • MLS # : 14504548
  • Updated Date : 01/22/2021 at 15:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,977 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Everything you are looking for in a home. This Kyle Paul built home is an open floor plan yet provides the private areas that many are seeking. 4 bedrooms and an additional room off of the living room gives you the home office, workout, zoom, game or maybe homeschooling area that is highly desired. The kitchen has a large island with farmhouse sink, and stainless appliances including a gas range. While in the kitchen enjoy the warmth of the fireplace from the main living area. The primary bedroom ensuite has a walk in shower with bench. Fenced backyard, sprinkler system and landscaping.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Zip Code: 79606

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $78k236k

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

Zip Code: 79606

ZipNIR Market*CityMarket2015Year20112019 Q285090095010001050110011501200125013001350140014501500Rent in $8341531

* 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
 

$287,100$350,900$319,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$1,108
Property Tax -$687
Property Insurance -$140
Property Management Fees -$99
CASH FLOW
-$524

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.

$319,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 4.8%
Maintenance Year (1-5) 8.00%
Vacancy 9.90%
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$900k

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

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$90,285

INVESTMENT

$90,285

Down Payment
$79,750
Rehab Estimate
$5,750
Closing Costs
$4,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,108

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,750
Loan Amount $239,250
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$12

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,898

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,510
1$1,5102$1,6953$1,8954$1,9005$1,995
$1,995
RENT COMPS ANALYSIS
  • 8402 Ridge Abilene, TX 1
    • 4 beds 2 baths ∙ 1,977 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,977 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.76
    •  
  • 7709 Tuscany Drive Abilene, TX 2
    • 4 beds 2 baths ∙ 1,877 Sqft ∙ Built 2011 4 beds 2 baths ∙ 1,877 Sqft ∙ Built 2011
    LEASED 11/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.90
    •  
  • 7537 Tuscany Drive Abilene, TX 3
    • 4 beds 2 baths ∙ 1,850 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,850 Sqft ∙ Built 2017
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.02
    •  
  • 4509 High Sierra Abilene, TX 4
    • 3 beds 4 baths ∙ 2,100 Sqft ∙ Built 2013 3 beds 4 baths ∙ 2,100 Sqft ∙ Built 2013
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.90
    •  
  • 7542 Tuscany Drive Abilene, TX 5
    • 4 beds 2 baths ∙ 1,958 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,958 Sqft ∙ Built 2017
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.02
    •  
PROPERTY LISTING DETAILS
Robbie Johnson
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504548
Last Updated: 01/22/2021
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