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109 Karen Court Athens, TX 75751

4 Beds 2 Baths 1,536 sqft Built 1980

INVESTimate

$198,500

List Price

$1,350

$1,215 - $1,485

Rent Est.

$207,135  ( +4.35%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $129.23
  • 8 Days on Market
  • MLS # : 14416524
  • Updated Date : 08/20/2020 at 04:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,536 sqft
  • Baths : 2 full
Listing Agent

Steve Grant Real Estate, Llc

Listing Agent's Description

MOVE IN READY HOME ON QUIET CUL-DE-SAC. UPDATED AND ENERGY EFFICIENT WITH R-45 INSULATION AND 21 SEER HVAC. 4 BEDROOMS, 2 BATHS, EXTRA STORAGE IN BACK. GRANITE COUNTERTOPS AND SUBWAY TILE BACK SPLASH. MASTER HAS HUGE CLOSET WITH GUN SAFE. GREAT PLACE TO MOVE INTO NOW!

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

Zip Code: 75751

ZipNIR Market*CityMarket2010Year2000201970k80k90k100k110k120k130k140k150kPrice in $61k160k

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

Zip Code: 75751

No Data Available.

* 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
Athens High School High Regular 969 61 3

Athens High School

  • Education Level: High
  • # of students: 969
  • # of teachers: 61
3
GreatSchools Rating
 

$178,650$218,350$198,500

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$732
Property Tax -$471
Property Insurance -$113
Property Management Fees -$99
CASH FLOW
-$65

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.

$198,500

PROJECTED PRICE

$1,350

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 4.35%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,353

INVESTMENT

$58,353

Down Payment
$49,625
Rehab Estimate
$5,750
Closing Costs
$2,978

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$732

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,625
Loan Amount $148,875
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$2,597

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,044

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$950
1$9502$1,350
$1,350
RENT COMPS ANALYSIS
  • 109 Karen Court Athens, TX 2
    • 4 beds 2 baths ∙ 1,536 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,536 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.88
    •  
  • 909 Valle Vista Drive Athens, TX 1
    • 3 beds 1 baths ∙ 1,404 Sqft ∙ Built 1961 3 beds 1 baths ∙ 1,404 Sqft ∙ Built 1961
    property image
    LEASED 03/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.68
    •  
PROPERTY LISTING DETAILS
Trish Mcguffey
Steve Grant Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416524
Last Updated: 08/20/2020
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