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106 Meadow Drive Crandall, TX 75114

4 Beds 2 Baths 1,290 sqft Built 1985

$185,000

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $143.41
  • 3 Days on Market
  • MLS # : 14534504
  • Updated Date : 03/19/2021 at 11:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,290 sqft
  • Baths : 2 full
Listing Agent

Property Max Associates

Listing Agent's Description

Don’t miss your chance to look at this beautifully updated 4-2-1 home in the Briar Creek Estates subdivision. Neutral colors, laminate and ceramic tile in main living areas. Wood burning fireplace and vaulted ceiling in family room. New granite countertops in kitchen, SS double-deep sink, new range and eat-in kitchen leads to a fantastic 2-tier, covered deck overlooking a good size back yard. Brand new carpet in the main bedroom and walk-in closet. Both bathrooms have been updated, granite in master and solid surface in hall bath. Roof less than a year old, foundation leveled with transferable warranty and exterior freshly painted. Perfect house for first-time buyer. Easy access to US 175 and I20.

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: Briar Creek Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $75k243k

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

Neighborhood: Briar Creek Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451767

* 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
W A Martin Elementary School Primary Regular 481 26 5
Crandall Middle School Middle Regular 746 47 5
Crandall High School High Regular 921 52 5

W A Martin Elementary School

  • Education Level: Primary
  • # of students: 481
  • # of teachers: 26
5
GreatSchools Rating

Crandall Middle School

  • Education Level: Middle
  • # of students: 746
  • # of teachers: 47
5
GreatSchools Rating

Crandall High School

  • Education Level: High
  • # of students: 921
  • # of teachers: 52
5
GreatSchools Rating
 

$166,500$203,500$185,000

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$643
Property Tax -$467
Property Insurance -$102
Property Management Fees -$99
CASH FLOW
$0

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.

$185,000

PROJECTED PRICE

$1,310

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$54,775

INVESTMENT

$54,775

Down Payment
$46,250
Rehab Estimate
$5,750
Closing Costs
$2,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$643

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $46,250
Loan Amount $138,750
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$7,009

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,258

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,3103$1,550
$1,550
RENT COMPS ANALYSIS
  • 106 Meadow Drive Crandall, TX 2
    • 4 beds 2 baths ∙ 1,290 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,290 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $1.02
    •  
  • 201 E Trunk Street Crandall, TX 1
    • 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1972
    property image
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.93
    •  
  • 112 Angelina Drive Crandall, TX 3
    • 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 2002
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.02
    •  
PROPERTY LISTING DETAILS
Stan Adams
Property Max Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14534504
Last Updated: 03/19/2021
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