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10101 Hanover Drive Providence Village, TX 76227

3 Beds 2 Baths 1,995 sqft Built 2004

INVESTimate

$267,500

List Price

$1,630

$1,467 - $1,793

Rent Est.

$293,795  ( +9.83%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2004
  • Price/Sqft : $134.09
  • 9 Days on Market
  • MLS # : 14409724
  • Updated Date : 08/25/2020 at 16:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,995 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

Adorable, meticulously maintained 3 bed, 2 bath home in Aubrey ISD. Recent updates incl. 4 yr old AC, roof in 2011 & 3yr old WH! This home boasts pride of ownership as you walk up the sidewalk! Beautiful curb appeal, vinyl wood planks in living, kitchen, formal dining & entry, fresh ext. paint, updated kitchen with SS appliances, granite counters, 42in cabinets, lrg pantry & bar seating area. WBFP in the main living rm, carpets in the 2nd LR-den are 2 yrs old & 2 lrg closets-ideal for game or media rm! Lrg master carpets are also 2 yrs old. Ample room on your front covered porch for unwinding after a long day! Covered back porches also! HOA has resort-style amenities! This home really is a MUST SEE!

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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

Neighborhood: Creek Village at Providence

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $116k336k

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

Neighborhood: Creek Village at Providence

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
Monaco Elementary School Primary Regular 642 36 6
Aubrey Middle School Middle Regular 484 29 7
Aubrey High School High Regular 585 36 6

Monaco Elementary School

  • Education Level: Primary
  • # of students: 642
  • # of teachers: 36
6
GreatSchools Rating

Aubrey Middle School

  • Education Level: Middle
  • # of students: 484
  • # of teachers: 29
7
GreatSchools Rating

Aubrey High School

  • Education Level: High
  • # of students: 585
  • # of teachers: 36
6
GreatSchools Rating
 

$240,750$294,250$267,500

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$987
Property Tax -$572
Property Insurance -$143
HOA -$60
Property Management Fees -$99
CASH FLOW
-$230

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.

$267,500

PROJECTED PRICE

$1,630

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.83%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$76,638

INVESTMENT

$76,638

Down Payment
$66,875
Rehab Estimate
$5,750
Closing Costs
$4,013

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$987

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,875
Loan Amount $200,625
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$1,353

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,661

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,630
1$1,6302$1,6503$1,6754$1,6955$1,750
$1,750
RENT COMPS ANALYSIS
  • 10101 Hanover Drive Providence Village, TX 1
    • 3 beds 2 baths ∙ 1,995 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,995 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.82
    •  
  • 10033 Lexington Drive Providence Village, TX 2
    • 3 beds 2 baths ∙ 2,005 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,005 Sqft ∙ Built 2005
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.82
    •  
  • 9905 Boston Harbor Drive Providence Village, TX 3
    • 3 beds 3 baths ∙ 1,909 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,909 Sqft ∙ Built 2004
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.88
    •  
  • 9928 Cherry Hill Lane Providence Village, TX 4
    • 4 beds 3 baths ∙ 2,067 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,067 Sqft ∙ Built 2005
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.82
    •  
  • 10013 Cherry Hill Lane Providence Village, TX 5
    • 4 beds 3 baths ∙ 2,166 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,166 Sqft ∙ Built 2004
    LEASED 10/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.81
    •  
PROPERTY LISTING DETAILS
Beth Brake
Keller Williams Realty-fm
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14409724
Last Updated: 08/25/2020
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