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1020 Almond Street Hickory Creek, TX 75065

3 Beds 3 Baths 2,108 sqft Built 2020

$335,740

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $159.27
  • 5 Days on Market
  • MLS # : 14492091
  • Updated Date : 12/30/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,108 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

BEAUTIFUL NEW CONSTRUCTION OPEN CONCEPT HOME BUILT BY AMERICA'S BUJILDER D.R. HORTON IN THE ALCOVE OF HICKORY CREEK!The Oak floorplan, elevation C~1 Story 3 BEDS,2 FULL & 1 HALF BATH*Chef's Kitchen with Granite Countertops,Tiled Back splash,Breakfast Bar,Stainless Steel Built-In Appliances,Gas Cooktop & W-I Pantry*Large Primary Bedroom with dual sink vanity,Garden Tub,oversize Shower with seat & large W-I Closet*~Tiled throughout Entry,Halls & Wet areas*8 ft front door*Tall ceilings* 42 in upper cabinets*Home is Connected Smart Home Technology,Tankless Water Heater*Corner Fireplace*Covd back Patio,Landscape Pkg with full Sprinkler System & more!* Can't beat this location!! Est completion April '21.

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MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Lakeview Hickory Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k375k

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

Neighborhood: Lakeview Hickory Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262561

* 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
Lake Dallas Elementary School Primary Regular 721 47 5
Lake Dallas Middle School Middle Regular 941 65 7
Lake Dallas High School High Regular 1,275 79 6

Lake Dallas Elementary School

  • Education Level: Primary
  • # of students: 721
  • # of teachers: 47
5
GreatSchools Rating

Lake Dallas Middle School

  • Education Level: Middle
  • # of students: 941
  • # of teachers: 65
7
GreatSchools Rating

Lake Dallas High School

  • Education Level: High
  • # of students: 1,275
  • # of teachers: 79
6
GreatSchools Rating
 

$302,166$369,314$335,740

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,239
Property Tax -$715
Property Insurance -$149
HOA -$54
Property Management Fees -$99
CASH FLOW
-$76

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$335,740

PROJECTED PRICE

$2,180

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 3.9%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

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$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,971

INVESTMENT

$90,971

Down Payment
$83,935
Rehab Estimate
$2,000
Closing Costs
$5,036

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,239

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,935
Loan Amount $251,805
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$11,856

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $2,177

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,7493$2,0954$2,1005$2,180
$2,180
RENT COMPS ANALYSIS
  • 1020 Almond Street Hickory Creek, TX 5
    • 3 beds 3 baths ∙ 2,108 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,108 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $1.03
    •  
  • 617 Grayson Lane Lake Dallas, TX 1
    • 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 2009
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.93
    •  
  • 513 Jefferson Lane Lake Dallas, TX 2
    • 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 2006
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $0.96
    •  
  • 147 Nix Drive Hickory Creek, TX 3
    • 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 2019
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.12
    •  
  • 122 Nix Drive Hickory Creek, TX 4
    • 3 beds 2 baths ∙ 1,871 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,871 Sqft ∙ Built 2019
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.12
    •  
PROPERTY LISTING DETAILS
Sherri Blasingame
Century 21 Mike Bowman, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14492091
Last Updated: 12/30/2020
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