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110 Magnolia Drive Waxahachie, TX 75165

4 Beds 3 Baths 3,178 sqft Built 2000

$624,900

List Price

$2,590

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $196.63
  • 1 Days on Market
  • MLS # : 14539554
  • Updated Date : 03/28/2021 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,178 sqft
  • Baths : 3 full
Listing Agent

Hi View Real Estate

Listing Agent's Description

Luxury Italian Estate Nestled just outside the city limits sitting on over an acre. 4 Bedroom, 3 Bath, 3 Car Garage. Enter on the two lane Circle Drive. Large Backyard with Dog Run and Storage Building. Covered Patio in Backyard with ceiling fans overlooking Decorative Fountain with Statue. Real Stucco, quality from start to finish. One Owner Custom Built Home with Fine Quality; Including Real Hardwood Floors, Ceramic Tile, Imported Norwegian Blue Pearl Granite. This home offers plenty of entertaining space with 2 living and 2 dining areas. The Master Suite includes a jacuzzi tub and oversized walk in closet. Additional Tornado Safe Room with Solid Steel walls and door with secure land line and ventilation.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Spring Creek Grove

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $116k422k

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

Neighborhood: Spring Creek Grove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10122753

* 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
Felty Elementary School Primary Regular 521 33 8
Howard Junior High School Middle Regular 857 62 6
Waxahachie High School High Regular 1,985 138 4

Felty Elementary School

  • Education Level: Primary
  • # of students: 521
  • # of teachers: 33
8
GreatSchools Rating

Howard Junior High School

  • Education Level: Middle
  • # of students: 857
  • # of teachers: 62
6
GreatSchools Rating

Waxahachie High School

  • Education Level: High
  • # of students: 1,985
  • # of teachers: 138
4
GreatSchools Rating
 

$562,410$687,390$624,900

PURCHASE PRICE

$2,331$2,849$2,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,590
EXPENSES Loan Payment -$2,171
Property Tax -$1,044
Property Insurance -$211
HOA -$25
Property Management Fees -$99
CASH FLOW
-$959

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.

$624,900

PROJECTED PRICE

$2,590

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.1%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$171,349

INVESTMENT

$171,349

Down Payment
$156,225
Rehab Estimate
$5,750
Closing Costs
$9,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$2,171

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $156,225
Loan Amount $468,675
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$18

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,590

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,145

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2453$2,590
$2,590
RENT COMPS ANALYSIS
  • 110 Magnolia Drive Waxahachie, TX 3
    • 4 beds 3 baths ∙ 3,178 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,178 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $0.81
    •  
  • 332 Choctaw Trail Waxahachie, TX 1
    • 5 beds 4 baths ∙ 3,182 Sqft ∙ Built 2010 5 beds 4 baths ∙ 3,182 Sqft ∙ Built 2010
    property image
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.69
    •  
  • 324 Tumbleweed Trail Waxahachie, TX 2
    • 5 beds 4 baths ∙ 3,427 Sqft ∙ Built 2015 5 beds 4 baths ∙ 3,427 Sqft ∙ Built 2015
    property image
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,245
    • $0.66
    •  
PROPERTY LISTING DETAILS
James Poarch
Hi View Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14539554
Last Updated: 03/28/2021
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