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105 Hancock Street Venus, TX 76084

3 Beds 3 Baths 2,433 sqft Built 2007

$225,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $92.48
  • 3 Days on Market
  • MLS # : 14528218
  • Updated Date : 03/19/2021 at 12:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,433 sqft
  • Baths : 2 full , 1 half
Listing Agent

Beary Nice Homes

Listing Agent's Description

Welcome home to this OPEN CONCEPT 3 bedroom home with 2.5 baths. Main floor is great for entertaining. Bedrooms are up with two full baths and additional living space. MOVE IN READY

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

Neighborhood: Patriot Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Patriot Estates

NeighborhoodNIR 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
Venus Elementary School Primary Regular 628 38 4
Venus Middle School Middle Regular 443 30 4
Venus High School High Regular 518 38 4

Venus Elementary School

  • Education Level: Primary
  • # of students: 628
  • # of teachers: 38
4
GreatSchools Rating

Venus Middle School

  • Education Level: Middle
  • # of students: 443
  • # of teachers: 30
4
GreatSchools Rating

Venus High School

  • Education Level: High
  • # of students: 518
  • # of teachers: 38
4
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$782
Property Tax -$572
Property Insurance -$168
HOA -$31
Property Management Fees -$99
CASH FLOW
$149

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.

$225,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$19,275

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,971

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,8003$1,8754$2,250
$2,250
RENT COMPS ANALYSIS
  • 105 Hancock Street Venus, TX 2
    • 3 beds 3 baths ∙ 2,433 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,433 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.74
    •  
  • 124 Independence Avenue Venus, TX 1
    • 4 beds 3 baths ∙ 2,580 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,580 Sqft ∙ Built 2007
    property image
    LEASED 01/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.65
    •  
  • 154 Presidents Way Venus, TX 3
    • 4 beds 3 baths ∙ 2,134 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,134 Sqft ∙ Built 2018
    property image
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.88
    •  
  • 164 Presidents Way Venus, TX 4
    • 4 beds 3 baths ∙ 2,509 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,509 Sqft ∙ Built 2018
    property image
    LEASED 03/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.90
    •  
PROPERTY LISTING DETAILS
Timothy Beary
Beary Nice Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14528218
Last Updated: 03/19/2021
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