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1024 Cottonbelt Drive Saginaw, TX 76131

4 Beds 2 Baths 1,914 sqft Built 1997

INVESTimate

$240,000

List Price

$1,700

$1,530 - $1,870

Rent Est.

$255,984  ( +6.66%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $125.39
  • 1 Days on Market
  • MLS # : 14420312
  • Updated Date : 08/25/2020 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,914 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Arlington

Listing Agent's Description

Welcome to this Highland Station 4-2-2 home in Saginaw.Functional Single level floor plan-no wasted space. Beautifully updated laminate wood flooring. Kitchen open to living space featuring high ceilings and a ton of natural light.Gas starter Fireplace anchors the room.Neutral tone kitchen cabinets,granite counters and plenty of prep space are a few highlights to mention. Fomal dining has walk thru option to kitchen, making it easy for entertaining. Owner's suite offers dual sink, separate shower-tub and WI closet. Door option from Owner's suite to secondary bedroom(perfect for office or nursery).Spacious secondary bedrooms and dual sinks in second bathroom.Large lot with inviting extended outdoor living space.

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: 76131

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $115k243k

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

Zip Code: 76131

ZipNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11021734

* 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
High Country Elementary School Primary Regular 633 35 6
Highland Middle School Middle Regular 815 54 7
Saginaw High School High Regular 1,785 113 6

High Country Elementary School

  • Education Level: Primary
  • # of students: 633
  • # of teachers: 35
6
GreatSchools Rating

Highland Middle School

  • Education Level: Middle
  • # of students: 815
  • # of teachers: 54
7
GreatSchools Rating

Saginaw High School

  • Education Level: High
  • # of students: 1,785
  • # of teachers: 113
6
GreatSchools Rating
 

$216,000$264,000$240,000

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$800k

PROJECTED ANNUAL CASH FLOW

11530-$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 -$886
Property Tax -$521
Property Insurance -$138
Property Management Fees -$99
CASH FLOW
$56

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.

$240,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.66%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$17,794

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
  • $0.89

    LIST RENT PER SQFT
  • $1,689

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6253$1,6754$1,7005$1,700
$1,700
RENT COMPS ANALYSIS
  • 1024 Cottonbelt Drive Saginaw, TX 5
    • 4 beds 2 baths ∙ 1,914 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,914 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.89
    •  
  • 805 Stafford Station Drive Saginaw, TX 1
    • 3 beds 2 baths ∙ 1,744 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,744 Sqft ∙ Built 1999
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.86
    •  
  • 1033 Harriman Drive Saginaw, TX 2
    • 4 beds 2 baths ∙ 1,734 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,734 Sqft ∙ Built 1999
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.94
    •  
  • 1117 Trinity Trail Saginaw, TX 3
    • 3 beds 2 baths ∙ 1,971 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,971 Sqft ∙ Built 1999
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.85
    •  
  • 1069 Pullman Drive Saginaw, TX 4
    • 3 beds 2 baths ∙ 1,926 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,926 Sqft ∙ Built 2002
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.88
    •  
PROPERTY LISTING DETAILS
Angelique Burkett
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14420312
Last Updated: 08/25/2020
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