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1033 Appalachian Lane Savannah, TX 76227

3 Beds 3 Baths 2,185 sqft Built 2013

$275,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $125.86
  • 4 Days on Market
  • MLS # : 14499171
  • Updated Date : 01/16/2021 at 18:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,185 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

***Multiple Offers Received*** Submit highest and best offer by 4PM on 1-17*** Spacious 2 story home in the master planned community of Savannah. The home has 3 bedrooms, 2.5 baths, and two additional rooms to create spaces such as an office and game room. It has impressive amounts of storage space including a large area under the stairs, walk-in closets in all bedrooms, and built-ins in the laundry room and garage. The home is situated in a prime location as it is directly across from one of the quieter neighborhood parks. The community has an abundance of parks, jogging paths, playgrounds, and a community center with an amazing pool and even paddle boats! Come check it out!

SEE MORE

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: Continental Congress Village at Savannah

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Continental Congress Village at Savannah

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Savannah Elementary School Primary Regular 640 42 6
Navo Middle School Middle Regular 1,077 65 7
Denton High School High Regular 2,166 140 6

Savannah Elementary School

  • Education Level: Primary
  • # of students: 640
  • # of teachers: 42
6
GreatSchools Rating

Navo Middle School

  • Education Level: Middle
  • # of students: 1,077
  • # of teachers: 65
7
GreatSchools Rating

Denton High School

  • Education Level: High
  • # of students: 2,166
  • # of teachers: 140
6
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$955
Property Tax -$626
Property Insurance -$153
HOA -$71
Property Management Fees -$99
CASH FLOW
$16

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$275,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$11,775

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,917

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8003$1,9204$1,9505$1,999
$1,999
RENT COMPS ANALYSIS
  • 1033 Appalachian Lane Savannah, TX 3
    • 3 beds 3 baths ∙ 2,185 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,185 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.88
    •  
  • 920 Charleston Lane Savannah, TX 1
    • 3 beds 3 baths ∙ 2,141 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,141 Sqft ∙ Built 2008
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.84
    •  
  • 1025 Hayden Lane Savannah, TX 2
    • 3 beds 3 baths ∙ 2,323 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,323 Sqft ∙ Built 2008
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.77
    •  
  • 1004 Caudle Lane Savannah, TX 4
    • 3 beds 2 baths ∙ 2,015 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,015 Sqft ∙ Built 2008
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.97
    •  
  • 1009 Appalachian Lane Savannah, TX 5
    • 3 beds 3 baths ∙ 2,141 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,141 Sqft ∙ Built 2009
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.93
    •  
PROPERTY LISTING DETAILS
Paula Saylors
Exp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14499171
Last Updated: 01/16/2021
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