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1026 Churchill Drive Princeton, TX 75407

3 Beds 3 Baths 2,234 sqft Built 2006

$235,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $105.19
  • 5 Days on Market
  • MLS # : 14468564
  • Updated Date : 11/27/2020 at 11:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,234 sqft
  • Baths : 2 full , 1 half
Listing Agent

Texas Elite Realty

Listing Agent's Description

Welcome to this wonderful home in the Villas of Monte Carlo! The home has wood laminate flooring in main areas and bedrooms, kitchen and entry are tile and carpet on stairs The upstairs has a bonus room and the large master suite with walk in closet, tub and separate shower and two more bedrooms. Move in ready, come see it soon!

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

Zip Code: 75407

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $114k243k

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

Zip Code: 75407

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8671734

* 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
Smith Elementary School Primary Regular NA
Clark Junior High School Middle Regular 540 33 8
Princeton High School High Regular 1,048 67 6

Smith Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Clark Junior High School

  • Education Level: Middle
  • # of students: 540
  • # of teachers: 33
8
GreatSchools Rating

Princeton High School

  • Education Level: High
  • # of students: 1,048
  • # of teachers: 67
6
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$867
Property Tax -$490
Property Insurance -$156
HOA -$25
Property Management Fees -$99
CASH FLOW
$113

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.

$235,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$22,835

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,944

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,8004$1,8005$1,900
$1,900
RENT COMPS ANALYSIS
  • 1026 Churchill Drive Princeton, TX 1
    • 3 beds 3 baths ∙ 2,234 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,234 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.78
    •  
  • 1405 Granite Path Princeton, TX 2
    • 4 beds 3 baths ∙ 2,147 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,147 Sqft ∙ Built 2017
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.84
    •  
  • 461 San Remo Princeton, TX 3
    • 3 beds 2 baths ∙ 2,083 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,083 Sqft ∙ Built 2000
    LEASED 05/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.86
    •  
  • 1500 Copper Street Princeton, TX 4
    • 4 beds 2 baths ∙ 2,089 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,089 Sqft ∙ Built 2017
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.86
    •  
  • 1010 Churchill Drive Princeton, TX 5
    • 4 beds 2 baths ∙ 2,057 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,057 Sqft ∙ Built 2006
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.92
    •  
PROPERTY LISTING DETAILS
John Martellini
Texas Elite Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14468564
Last Updated: 11/27/2020
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