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102 Watering Hole Newark, TX 76071

4 Beds 3 Baths 2,696 sqft Built 2007

INVESTimate

$270,000

List Price

$1,700

$1,530 - $1,870

Rent Est.

$279,072  ( +3.36%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $100.15
  • 7 Days on Market
  • MLS # : 14416355
  • Updated Date : 08/21/2020 at 05:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,696 sqft
  • Baths : 2 full , 1 half
Listing Agent

Parker Properties

Listing Agent's Description

NWISD! Amazing home and an INCREDIBLE LOCATION near Alliance and 5 minutes from essential shopping, with great curb appeal, trimmed in rustic stone. FOUR bedrooms! Spacious master en-suite downstairs. Kitchen includes custom stained cabinets and ceramic tile with granite style counters. Large game room upstairs that could easily be a 2nd living area, gym, or classroom. All three bedrooms upstairs have walk in closets and there are french doors to view the countryside from your private balcony. Upgrades include hail resistant shingles and whole home water filtration system. Neighborhood amenities include a community pool, clubhouse, and a gym!

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: 76071

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $94k243k

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

Zip Code: 76071

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8441734

* 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
Seven Hills Elementary School Primary Regular 560 37 4
Chisholm Trail Middle School Middle Regular 899 64 7
Northwest High School High Regular 2,793 170 6

Seven Hills Elementary School

  • Education Level: Primary
  • # of students: 560
  • # of teachers: 37
4
GreatSchools Rating

Chisholm Trail Middle School

  • Education Level: Middle
  • # of students: 899
  • # of teachers: 64
7
GreatSchools Rating

Northwest High School

  • Education Level: High
  • # of students: 2,793
  • # of teachers: 170
6
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$996
Property Tax -$428
Property Insurance -$183
HOA -$38
Property Management Fees -$99
CASH FLOW
-$44

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.

$270,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 3.36%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$11,909

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
  • $0.63

    LIST RENT PER SQFT
  • $2,103

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,990
$1,990
RENT COMPS ANALYSIS
  • 102 Watering Hole Newark, TX 1
    • 4 beds 3 baths ∙ 2,696 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,696 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.63
    •  
  • 103 Bear Claw Court Newark, TX 2
    • 3 beds 3 baths ∙ 2,557 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,557 Sqft ∙ Built 2006
    property image
    LEASED 10/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.78
    •  
PROPERTY LISTING DETAILS
Tomie Fox
Parker Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416355
Last Updated: 08/21/2020
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