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1106 Sagewood Drive Justin, TX 76247

3 Beds 2 Baths 1,844 sqft Built 2021

$310,821

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $168.56
  • 7 Days on Market
  • MLS # : 14494010
  • Updated Date : 01/04/2021 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,844 sqft
  • Baths : 2 full
Listing Agent

Imp Realty

Listing Agent's Description

MLS# 14494010 - Built by Impression Homes - February completion! ~ Impression Homes Alderburry includes wood look tile, sous chef kitchen with custom cabinets, built in stainless steel appliances, and granite countertops, The kitchen also offers a large island open to the living room and a private master suite reminiscent of a luxury hotel. Additionally, the mud room offers a mud bench cabinet.

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

Neighborhood: Ridgeview Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260kPrice in $122k271k

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

Neighborhood: Ridgeview Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10532134

* 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
Justin Elementary School Primary Regular 506 33 5
Gene Pike Middle School Middle Regular 743 53 7
Northwest High School High Regular 2,793 170 6

Justin Elementary School

  • Education Level: Primary
  • # of students: 506
  • # of teachers: 33
5
GreatSchools Rating

Gene Pike Middle School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 53
7
GreatSchools Rating

Northwest High School

  • Education Level: High
  • # of students: 2,793
  • # of teachers: 170
6
GreatSchools Rating
 

$279,739$341,903$310,821

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,080
Property Tax -$648
Property Insurance -$134
HOA -$67
Property Management Fees -$99
CASH FLOW
-$337

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.

$310,821

PROJECTED PRICE

$1,690

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 3.00%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,368

INVESTMENT

$84,368

Down Payment
$77,705
Rehab Estimate
$2,000
Closing Costs
$4,662

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,080

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,705
Loan Amount $233,116
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$235

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,692

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6753$1,6904$1,7505$1,850
$1,850
RENT COMPS ANALYSIS
  • 1106 Sagewood Drive Justin, TX 3
    • 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.92
    •  
  • 262 Pine Crest Drive Justin, TX 1
    • 4 beds 2 baths ∙ 2,080 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,080 Sqft ∙ Built 2002
    LEASED 08/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.79
    •  
  • 229 Windmill Drive Justin, TX 2
    • 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 2003
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.93
    •  
  • 236 Hilltop Drive Justin, TX 4
    • 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 2003
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
  • 276 Hilltop Drive Justin, TX 5
    • 3 beds 2 baths ∙ 1,885 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,885 Sqft ∙ Built 2017
    LEASED 07/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.98
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Imp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14494010
Last Updated: 01/04/2021
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