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1104 Burlingame Drive Cleburne, TX 76033

3 Beds 2 Baths 1,683 sqft Built 2020

INVESTimate

$231,785

List Price

$1,380

$1,242 - $1,518

Rent Est.

$249,053  ( +7.45%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $137.72
  • 7 Days on Market
  • MLS # : 14417847
  • Updated Date : 08/21/2020 at 05:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,683 sqft
  • Baths : 2 full
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

SIZING DOWN OR COMING FROM AN APARTMENT,THIS FLOOR PLAN'S FOR YOU~NEW CONSTRUCTION in D.R. HORTON'S BEAUTIFUL COMMUNITY of BELCLAIRE in CLEBURNE & CLEBURNE ISD!~1 Story open concept 3-2-2 Santa Rosa Floorplan-(Elev A) Est Completion Oct~Spacious Living opens to both the Dining & large Kitchen,Stainless Steel Appliances,Gas Range,Seating Island,Granite Countertops,tiled back splash & big Pantry*Large private Primary Bedroom,dual sink Vanity,Garden Tub,separate Shower & W-I Closet with built-ins*Woodlook Tile in Kitchen,Entry,Hallways,Baths & Utility*Home is Connected Smart Home Technology,Gas tankless water heater,6 ft fenced backyard,Covered Back Patio,Landscape Pkg,full Sprinkler System & much more!

SEE MORE

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: 76033

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 76033

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9011734

* 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
Gerard Elementary School Primary Regular 531 31 5
Smith Middle School Middle Regular 775 53 4
Cleburne High School High Regular 1,653 110 4

Gerard Elementary School

  • Education Level: Primary
  • # of students: 531
  • # of teachers: 31
5
GreatSchools Rating

Smith Middle School

  • Education Level: Middle
  • # of students: 775
  • # of teachers: 53
4
GreatSchools Rating

Cleburne High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 110
4
GreatSchools Rating
 

$208,607$254,964$231,785

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$5.0k-$4.0k-$3.0k-$2.0k-$1.0k$0.0$1.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$855
Property Tax -$571
Property Insurance -$124
HOA -$33
Property Management Fees -$99
CASH FLOW
-$303

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$231,785

PROJECTED PRICE

$1,380

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.45%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$63,423

INVESTMENT

$63,423

Down Payment
$57,946
Rehab Estimate
$2,000
Closing Costs
$3,477

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$855

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,946
Loan Amount $173,839
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$46

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,380

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,2953$1,380
$1,380
RENT COMPS ANALYSIS
  • 1104 Burlingame Drive Cleburne, TX 3
    • 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.82
    •  
  • 1630 Turtledove Drive Cleburne, TX 1
    • 3 beds 2 baths ∙ 1,384 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,384 Sqft ∙ Built 2006
    property image
    LEASED 05/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.83
    •  
  • 1611 Shelley Lane Cleburne, TX 2
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 2002
    property image
    LEASED 05/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.81
    •  
PROPERTY LISTING DETAILS
Carol Holloway Stoneham
Century 21 Mike Bowman, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417847
Last Updated: 08/21/2020
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