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925 Silver Sage Drive Wylie, TX 75098

4 Beds 3 Baths 2,957 sqft Built 2006

$340,000

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $114.98
  • 1 Days on Market
  • MLS # : 14475031
  • Updated Date : 11/22/2020 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,957 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

Fresh Paint! Open floor plan with two living areas, two dining areas and hard to find three car garage. Kitchen opens to downstairs living area with fireplace. Master bedroom with walk in closet and ensuite bath with shower and separate tub. Half bath downstairs and huge utility room with walk-in pantry. Large game room at top of stairs. Guest bedrooms feature over sized closets and share second full bath. Fenced back yard. Buyer to verify all info such as schools and dimensions.

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: 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
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,254
Property Tax -$704
Property Insurance -$198
HOA -$28
Property Management Fees -$99
CASH FLOW
-$313

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.

$340,000

PROJECTED PRICE

$1,970

PROJECTED RENT

0.58%

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$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,234

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $2,107

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8953$1,8954$1,9705$1,975
$1,975
RENT COMPS ANALYSIS
  • 925 Silver Sage Drive Wylie, TX 4
    • 4 beds 3 baths ∙ 2,957 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,957 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.67
    •  
  • 933 Silver Sage Drive Wylie, TX 1
    • 4 beds 3 baths ∙ 2,679 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,679 Sqft ∙ Built 2005
    property image
    LEASED 06/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.69
    •  
  • 413 Ashland Drive Wylie, TX 2
    • 4 beds 3 baths ∙ 2,614 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,614 Sqft ∙ Built 2003
    property image
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.72
    •  
  • 930 Cedar Creek Drive Wylie, TX 3
    • 4 beds 3 baths ∙ 2,789 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,789 Sqft ∙ Built 2005
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.68
    •  
  • 703 Chelsea Drive Wylie, TX 5
    • 4 beds 3 baths ∙ 2,614 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,614 Sqft ∙ Built 2004
    property image
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.76
    •  
PROPERTY LISTING DETAILS
Colin Conn
Exp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475031
Last Updated: 11/22/2020
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