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108 Chloe Court Boyd, TX 76023

3 Beds 2 Baths 2,014 sqft Built 2015

$390,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $193.64
  • 5 Days on Market
  • MLS # : 14495839
  • Updated Date : 01/13/2021 at 18:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,014 sqft
  • Baths : 2 full
Listing Agent

Texas Country Real Estate

Listing Agent's Description

Beautiful Home in Country Setting, sits on 1 acre and has a large back yard with lots of beautiful trees. This is a great custom build home with open concept and split bedroom arrangement. There are 3 bedrooms 2 full baths and the Master bedroom is very large with a great walk in closet. Wood burning fireplace in the living room and a fireplace on the back patio. There is an office that can be converted to a bedroom (has a closet) The kitchen has custom built knotty alder cabinets with an island. Custom fit Blinds and solar Screens on window. 11 Zone Sprinkler system in the yard Storage Shed, small utility shed and a privacy fence. All of this in the highly desired Knob Hill Estates.

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

Zip Code: 76023

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $96k243k

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

Zip Code: 76023

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7861734

* 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
Reno Elementary School Primary Regular 337 25 3
Springtown Middle School Middle Regular 530 35 6
Springtown High School High Regular 912 72 5

Reno Elementary School

  • Education Level: Primary
  • # of students: 337
  • # of teachers: 25
3
GreatSchools Rating

Springtown Middle School

  • Education Level: Middle
  • # of students: 530
  • # of teachers: 35
6
GreatSchools Rating

Springtown High School

  • Education Level: High
  • # of students: 912
  • # of teachers: 72
5
GreatSchools Rating
 

$351,000$429,000$390,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,355
Property Tax -$641
Property Insurance -$144
Property Management Fees -$99
CASH FLOW
-$289

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$390,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 11.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,355

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$2,939

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,732

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,950
$1,950
RENT COMPS ANALYSIS
  • 108 Chloe Court Boyd, TX 2
    • 3 beds 2 baths ∙ 2,014 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,014 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.97
    •  
  • 377 Mcvoid Road Springtown, TX 1
    • 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 2008
    property image
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.86
    •  
PROPERTY LISTING DETAILS
Cheryl Pfingsten
Texas Country Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14495839
Last Updated: 01/13/2021
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