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10045 Pinecrest Drive Providence Village, TX 76227

4 Beds 3 Baths 1,871 sqft Built 2002

$277,900

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $148.53
  • 3 Days on Market
  • MLS # : 14500717
  • Updated Date : 01/15/2021 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,871 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

Welcome to this Craftsman-style home in the resort community of Providence! This 4 bedroom, 2.5 bathroom home offers an ideal open floor plan and great for entertaining. The living room is open to the kitchen and features wood type flooring and a wood-burning fireplace. The kitchen is thoughtfully laid out and provides ample counter space and cabinetry and is open to the kitchen nook. The primary bedroom is a nice retreat and offers wood type flooring, an en-suite bathroom with a garden tub, a beautifully tiled shower, and a large walk-in closet. Buyer & Buyer Agent to verify all info including, but not limited to, room dimensions, features, schools.

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: Providence

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $116k336k

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

Neighborhood: Providence

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11042171

* 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
Providence Elementary School Primary Regular 657 42 6
Navo Middle School Middle Regular 1,077 65 7
Billy Ryan High School High Regular 2,409 170 5

Providence Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 42
6
GreatSchools Rating

Navo Middle School

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

Billy Ryan High School

  • Education Level: High
  • # of students: 2,409
  • # of teachers: 170
5
GreatSchools Rating
 

$250,110$305,690$277,900

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$965
Property Tax -$594
Property Insurance -$135
HOA -$60
Property Management Fees -$99
CASH FLOW
-$154

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.

$277,900

PROJECTED PRICE

$1,700

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,394

INVESTMENT

$79,394

Down Payment
$69,475
Rehab Estimate
$5,750
Closing Costs
$4,169

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$965

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,475
Loan Amount $208,425
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$2,922

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,815

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7003$1,8004$1,8755$1,900
$1,900
RENT COMPS ANALYSIS
  • 10045 Pinecrest Drive Providence Village, TX 2
    • 4 beds 3 baths ∙ 1,871 Sqft ∙ Built 2002 4 beds 3 baths ∙ 1,871 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.91
    •  
  • 10231 Waterbury Drive Providence Village, TX 1
    • 3 beds 3 baths ∙ 1,850 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,850 Sqft ∙ Built 2003
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.92
    •  
  • 1366 Portsmouth Drive Providence Village, TX 3
    • 3 beds 3 baths ∙ 1,937 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,937 Sqft ∙ Built 2003
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
  • 9813 Walnut Hill Drive Providence Village, TX 4
    • 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 2002
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.00
    •  
  • 9868 Walnut Hill Drive Providence Village, TX 5
    • 3 beds 3 baths ∙ 1,850 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,850 Sqft ∙ Built 2002
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.03
    •  
PROPERTY LISTING DETAILS
Wendy Galloway
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14500717
Last Updated: 01/15/2021
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