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1007 Riverstone Trail Princeton, TX 75407

4 Beds 2 Baths 1,590 sqft Built 2018

$230,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $144.65
  • 2 Days on Market
  • MLS # : 14462691
  • Updated Date : 11/07/2020 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,590 sqft
  • Baths : 2 full
Listing Agent

Orchard Brokerage

Listing Agent's Description

Click the Virtual Tour link to view the 3D Matterport walkthrough. Perfectly situated on a manicured this timeless single-story home resides in the highly sought-after community of Trails at Riverstone. The open floor plan lends this property to entertaining and your everyday lifestyle. Natural light filtering in from the windows illuminates the eat-in island kitchen with all stainless appliances open to the family room and breakfast nook. The owner's suite boasts a walk-in closet and sliding glass door shower in the master bath. 3 additional bedrooms give plenty of space to curate an office or extra guest room. Enjoy the expansive backyard with covered patio and pergola, perfect for dining al fresco.

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

Zip Code: 75407

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $114k243k

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

Zip Code: 75407

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8671734

* 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
Lacy Elementary School Primary Regular 695 47 6
Clark Junior High School Middle Regular 540 33 8
Princeton High School High Regular 1,048 67 6

Lacy Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 47
6
GreatSchools Rating

Clark Junior High School

  • Education Level: Middle
  • # of students: 540
  • # of teachers: 33
8
GreatSchools Rating

Princeton High School

  • Education Level: High
  • # of students: 1,048
  • # of teachers: 67
6
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$849
Property Tax -$479
Property Insurance -$119
Property Management Fees -$99
CASH FLOW
$54

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$230,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$17,470

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,574

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6003$1,6254$1,6505$1,725
$1,725
RENT COMPS ANALYSIS
  • 1007 Riverstone Trail Princeton, TX 2
    • 4 beds 2 baths ∙ 1,590 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,590 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.01
    •  
  • 1004 Emerald Drive Princeton, TX 1
    • 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 2019
    property image
    LEASED 01/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.98
    •  
  • 915 Emerald Drive Princeton, TX 3
    • 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 2019
    property image
    LEASED 01/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.99
    •  
  • 1010 Sapphire Drive Princeton, TX 4
    • 4 beds 2 baths ∙ 1,690 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,690 Sqft ∙ Built 2019
    property image
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.98
    •  
  • 1110 Mercury Drive Princeton, TX 5
    • 4 beds 2 baths ∙ 1,701 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,701 Sqft ∙ Built 2018
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.01
    •  
PROPERTY LISTING DETAILS
Alix Spruce
Orchard Brokerage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462691
Last Updated: 11/07/2020
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