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1012 Preakness Circle Terrell, TX 75160

4 Beds 3 Baths 2,730 sqft Built 1996

$437,900

List Price

$2,550

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $160.40
  • 1 Days on Market
  • MLS # : 14482947
  • Updated Date : 01/23/2021 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,730 sqft
  • Baths : 2 full , 1 half
Listing Agent

Tdrealty

Listing Agent's Description

Dreams do come true! This gorgeous home is located in the exclusive Winners Circle Estates and sits on 1.09 acre. The home has a spacious open floor plan with 4 spacious bedrooms, 2.5 baths, 3 car garage, a formal dining room, breakfast nook and bar, and abundance of natural light let in through double hung windows. Updated kitchen with lots of cabinet space, granite countertops with SS appliance and huge island. The master suite has a double see-through fireplace shared with the spa-like bath. The game room on the second level can be used as a fifth bedroom. The home affords a huge treed front yard w gigantic backyard. Plenty of room to park with the J-garage. You must see this one too many extras to list!

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

Neighborhood: Winners Circle

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $91k369k

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

Neighborhood: Winners Circle

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262196

* 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
Henderson Elementary School Primary Regular 536 29 7
Warren Middle School Middle Regular 713 39 9
Forney High School High Regular 1,402 88 8

Henderson Elementary School

  • Education Level: Primary
  • # of students: 536
  • # of teachers: 29
7
GreatSchools Rating

Warren Middle School

  • Education Level: Middle
  • # of students: 713
  • # of teachers: 39
9
GreatSchools Rating

Forney High School

  • Education Level: High
  • # of students: 1,402
  • # of teachers: 88
8
GreatSchools Rating
 

$394,110$481,690$437,900

PURCHASE PRICE

$2,295$2,805$2,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,550
EXPENSES Loan Payment -$1,521
Property Tax -$1,128
Property Insurance -$185
HOA -$33
Property Management Fees -$99
CASH FLOW
-$416

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.

$437,900

PROJECTED PRICE

$2,550

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.3%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$121,794

INVESTMENT

$121,794

Down Payment
$109,475
Rehab Estimate
$5,750
Closing Costs
$6,569

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,521

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $109,475
Loan Amount $328,425
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$546

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,550

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,557

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,5253$2,5504$2,895
$2,895
RENT COMPS ANALYSIS
  • 1012 Preakness Circle Terrell, TX 3
    • 4 beds 3 baths ∙ 2,730 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,730 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.93
    •  
  • 1036 E Oaklawn Drive Talty, TX 1
    • 4 beds 3 baths ∙ 2,776 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,776 Sqft ∙ Built 1999
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.79
    •  
  • 15176 Rutledge Lane Talty, TX 2
    • 4 beds 2 baths ∙ 2,412 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,412 Sqft ∙ Built 2014
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,525
    • $1.05
    •  
  • 16286 O Conner Avenue Talty, TX 4
    • 4 beds 3 baths ∙ 2,989 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,989 Sqft ∙ Built 2003
    LEASED 01/14/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $0.97
    •  
PROPERTY LISTING DETAILS
Lindy Carroll
Tdrealty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14482947
Last Updated: 01/23/2021
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