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1000 Cotton Exchange Drive Savannah, TX 76227

4 Beds 3 Baths 2,483 sqft Built 2006

$315,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $126.86
  • 2 Days on Market
  • MLS # : 14515144
  • Updated Date : 02/13/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,483 sqft
  • Baths : 2 full , 1 half
Listing Agent

Midtown Real Estate

Listing Agent's Description

Cape Cod style home. 3 beds, 2.1 baths. Large bonus room can be used for media, game, 2nd living or 4th bedroom. New Roof in October 2020. Master downstairs. Spacious bedrooms. Upper level balconies & front porch make for amazing outdoor living. View of the dog park from front porch. Experience resort-style living in the serene, fun, family friendly community of Savannah! Walking distance to elementary school. Community amenities include olympic swimming pool, water park, separate adult pool, three tiered fitness center, tennis court, basketball courts, dog park & planned HOA events throughout the year.

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: Greenview Village at Savannah

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Greenview Village at Savannah

NeighborhoodNIR 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
Savannah Elementary School Primary Regular 640 42 6
Navo Middle School Middle Regular 1,077 65 7
Denton High School High Regular 2,166 140 6

Savannah Elementary School

  • Education Level: Primary
  • # of students: 640
  • # of teachers: 42
6
GreatSchools Rating

Navo Middle School

  • Education Level: Middle
  • # of students: 1,077
  • # of teachers: 65
7
GreatSchools Rating

Denton High School

  • Education Level: High
  • # of students: 2,166
  • # of teachers: 140
6
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,094
Property Tax -$717
Property Insurance -$171
HOA -$71
Property Management Fees -$99
CASH FLOW
-$261

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.

$315,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
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

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$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$906

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,900

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,8903$1,9504$1,9955$2,000
$2,000
RENT COMPS ANALYSIS
  • 1000 Cotton Exchange Drive Savannah, TX 2
    • 4 beds 3 baths ∙ 2,483 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,483 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.76
    •  
  • 1009 Wenk Drive Savannah, TX 1
    • 4 beds 4 baths ∙ 2,323 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,323 Sqft ∙ Built 2006
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.69
    •  
  • 1053 Marietta Lane Savannah, TX 3
    • 4 beds 3 baths ∙ 2,649 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,649 Sqft ∙ Built 2016
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.74
    •  
  • 725 Hartsfield Savannah, TX 4
    • 4 beds 3 baths ∙ 2,550 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,550 Sqft ∙ Built 2015
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.78
    •  
  • 720 Whitemarsh Drive Aubrey, TX 5
    • 4 beds 3 baths ∙ 2,353 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,353 Sqft ∙ Built 2016
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.85
    •  
PROPERTY LISTING DETAILS
Chassity Nosrati
Midtown Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14515144
Last Updated: 02/13/2021
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