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1032 Wildwood Drive Joshua, TX 76058

3 Beds 2 Baths 2,069 sqft Built 2020

$303,629

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $146.75
  • 4 Days on Market
  • MLS # : 14480958
  • Updated Date : 12/04/2020 at 11:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,069 sqft
  • Baths : 2 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14480958 - Built by Antares Homes - April completion! ~ The private study is complete with built-in-shelving, a storage closet, and French doors. Wood flooring flows from the foyer to the family room, kitchen, and breakfast nook. Enjoy a spacious family room with a boxed ceiling and a cast stone fireplace. A wrap-around breakfast bar with a built-in bookshelf and an island are featured in the kitchen. Access to the covered patio is through the breakfast nook with bay windows. The master bathroom has a dual sink vanity, a large garden tub, a separate walk-in shower with a seat, linen closet, and large walk-in closet. Two additional bedrooms have access to a full bathroom and a linen closet...

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Zip Code: 76058

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 76058

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
H.d. Staples Elementary School Primary Regular 497 34 5
Loflin Middle School Middle Regular 811 52 6
Joshua Ninth Grade Campus High Regular 391 29 7

H.d. Staples Elementary School

  • Education Level: Primary
  • # of students: 497
  • # of teachers: 34
5
GreatSchools Rating

Loflin Middle School

  • Education Level: Middle
  • # of students: 811
  • # of teachers: 52
6
GreatSchools Rating

Joshua Ninth Grade Campus

  • Education Level: High
  • # of students: 391
  • # of teachers: 29
7
GreatSchools Rating
 

$273,266$333,992$303,629

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,120
Property Tax -$728
Property Insurance -$147
HOA -$38
Property Management Fees -$99
CASH FLOW
-$201

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.

$303,629

PROJECTED PRICE

$1,930

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,462

INVESTMENT

$82,462

Down Payment
$75,907
Rehab Estimate
$2,000
Closing Costs
$4,554

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,120

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,907
Loan Amount $227,722
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$2,682

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,940

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,9303$1,9504$2,0005$2,200
$2,200
RENT COMPS ANALYSIS
  • 1032 Wildwood Drive Joshua, TX 2
    • 3 beds 2 baths ∙ 2,069 Sqft ∙ Built 2020 3 beds 2 baths ∙ 2,069 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.93
    •  
  • 219 Arrowhead Drive Burleson, TX 1
    • 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 2004
    property image
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.92
    •  
  • 2836 Greenway Drive Burleson, TX 3
    • 3 beds 2 baths ∙ 1,996 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,996 Sqft ∙ Built 2006
    property image
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.98
    •  
  • 2984 Lakeview Circle Burleson, TX 4
    • 3 beds 3 baths ∙ 2,343 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,343 Sqft ∙ Built 2003
    property image
    LEASED 08/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.85
    •  
  • 3003 Greenway Drive Burleson, TX 5
    • 4 beds 3 baths ∙ 2,191 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,191 Sqft ∙ Built 2014
    property image
    LEASED 01/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.00
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14480958
Last Updated: 12/04/2020
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