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101 Homestead Court Van Alstyne, TX 75495

4 Beds 3 Baths 2,629 sqft Built 2020

INVESTimate

$414,340

List Price

$1,950

$1,755 - $2,145

Rent Est.

$447,156  ( +7.92%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $157.60
  • 7 Days on Market
  • MLS # : 14415943
  • Updated Date : 08/25/2020 at 20:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,629 sqft
  • Baths : 3 full
Listing Agent

Ntex Realty, Lp

Listing Agent's Description

The Colca II design reflects unique features and exceptional attention to detail. This ranch-style home gives a bright open layout with an abundance of windows, large master suite, wide open kitchen and living area. With 4 bedrooms, a study and formal dining room your family will not have to settle on this layout. The Colca II is what you have been looking for and will make you feel right at home!

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: 75495

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $65k239k

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

Zip Code: 75495

No Data Available.

* 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
Van Alstyne J H Primary Regular 407 28 8
Van Alstyne J H Middle Regular 407 28 8
Van Alstyne High School High Regular 447 31 7

Van Alstyne J H

  • Education Level: Primary
  • # of students: 407
  • # of teachers: 28
8
GreatSchools Rating

Van Alstyne J H

  • Education Level: Middle
  • # of students: 407
  • # of teachers: 28
8
GreatSchools Rating

Van Alstyne High School

  • Education Level: High
  • # of students: 447
  • # of teachers: 31
7
GreatSchools Rating
 

$372,906$455,774$414,340

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$16k-$14k-$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$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,529
Property Tax -$979
Property Insurance -$170
Property Management Fees -$99
CASH FLOW
-$827

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$414,340

PROJECTED PRICE

$1,950

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 7.92%
Maintenance Year (1-5) 3.00%
Vacancy 6.00%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,800

INVESTMENT

$111,800

Down Payment
$103,585
Rehab Estimate
$2,000
Closing Costs
$6,215

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,529

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,585
Loan Amount $310,755
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$61

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,963

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,1003$2,1004$2,175
$2,175
RENT COMPS ANALYSIS
  • 101 Homestead Court Van Alstyne, TX 1
    • 4 beds 3 baths ∙ 2,629 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,629 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.74
    •  
  • 1513 Colgate Drive Van Alstyne, TX 2
    • 4 beds 3 baths ∙ 2,913 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,913 Sqft ∙ Built 2015
    property image
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.72
    •  
  • 1523 Colgate Drive Van Alstyne, TX 3
    • 5 beds 3 baths ∙ 2,913 Sqft ∙ Built 2015 5 beds 3 baths ∙ 2,913 Sqft ∙ Built 2015
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.72
    •  
  • 1516 Stanford Drive Van Alstyne, TX 4
    • 4 beds 4 baths ∙ 2,727 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,727 Sqft ∙ Built 2014
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.80
    •  
PROPERTY LISTING DETAILS
Clinton Shipley
Ntex Realty, Lp
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415943
Last Updated: 08/25/2020
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