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108 Caddo Street Josephine, TX 75173

3 Beds 2 Baths 1,660 sqft Built 2020

INVESTimate

$299,900

List Price

$1,310

$1,179 - $1,441

Rent Est.

$320,023  ( +6.71%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Built In 2020
  • Price/Sqft : $180.66
  • 16 Days on Market
  • MLS # : 14410993
  • Updated Date : 08/25/2020 at 02:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,660 sqft
  • Baths : 2 full
Listing Agent

Odie Hall Realty, Inc

Listing Agent's Description

New, just finished. Extra large lot, trees, room for a Shop and a Garden. Feel of Country but has City Sewer. Custom 3-2-2 with fireplace and 2 covered porches. Wow, wow, wow. 100% loan if qualified. A very custom home.

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MARKET HIGHLIGHTS

  • . 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 75173

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $107k322k

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

Zip Code: 75173

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7191741

* 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
Phyliss Nesmith Elementary School Primary Regular 469 26 7
Edge Middle School Middle Regular 441 26 4
Community High School High Regular 507 39 6

Phyliss Nesmith Elementary School

  • Education Level: Primary
  • # of students: 469
  • # of teachers: 26
7
GreatSchools Rating

Edge Middle School

  • Education Level: Middle
  • # of students: 441
  • # of teachers: 26
4
GreatSchools Rating

Community High School

  • Education Level: High
  • # of students: 507
  • # of teachers: 39
6
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

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-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$1,107
Property Tax -$456
Property Insurance -$123
Property Management Fees -$99
CASH FLOW
-$475

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$299,900

PROJECTED PRICE

$1,310

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.71%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,474

INVESTMENT

$81,474

Down Payment
$74,975
Rehab Estimate
$2,000
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$25

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
  • $0.79

    LIST RENT PER SQFT
  • $1,577

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,310
1$1,3102$1,6753$1,7004$1,750
$1,750
RENT COMPS ANALYSIS
  • 108 Caddo Street Josephine, TX 1
    • 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.79
    •  
  • 1741 Rolling Meadow Lane Josephine, TX 2
    • 4 beds 2 baths ∙ 2,005 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,005 Sqft ∙ Built 2016
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.84
    •  
  • 308 Saw Mill Road Josephine, TX 3
    • 4 beds 2 baths ∙ 1,577 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,577 Sqft ∙ Built 2019
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.08
    •  
  • 500 Milo Way Josephine, TX 4
    • 4 beds 2 baths ∙ 1,891 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,891 Sqft ∙ Built 2019
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.93
    •  
PROPERTY LISTING DETAILS
Odie Hall
Odie Hall Realty, Inc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14410993
Last Updated: 08/25/2020
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