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1107 Westminister Lane Greenville, TX 75402

4 Beds 2 Baths 2,019 sqft Built 1994

$289,900

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $143.59
  • 1 Days on Market
  • MLS # : 14531952
  • Updated Date : 03/13/2021 at 03:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,019 sqft
  • Baths : 2 full
Listing Agent

C. W. Sparks Management

Listing Agent's Description

Location, Location, Location! This beautiful homes sits in a well maintained and desirable neighborhood minutes from L3 and I30. It is also conveniently located to dining and shopping. The front door opens up to a spacious formal sitting area with lots of room to entertain guests . Wood burning fireplace and large eat in kitchen. Tons of windows for great lighting, large kitchen and lots of spacious rooms. Come see this one before it is gone.

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: 75402

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $68k243k

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

Zip Code: 75402

ZipNIR Market*Market2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Lamar Elementary School Primary Regular 594 39 5
6th Grade Center Middle Regular 318 25 3
Greenville High School High Regular 1,077 89 5

Lamar Elementary School

  • Education Level: Primary
  • # of students: 594
  • # of teachers: 39
5
GreatSchools Rating

6th Grade Center

  • Education Level: Middle
  • # of students: 318
  • # of teachers: 25
3
GreatSchools Rating

Greenville High School

  • Education Level: High
  • # of students: 1,077
  • # of teachers: 89
5
GreatSchools Rating
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,007
Property Tax -$652
Property Insurance -$144
Property Management Fees -$99
CASH FLOW
-$232

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$289,900

PROJECTED PRICE

$1,670

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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$4.0k

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$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$1,078

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,757

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,6703$1,6954$1,750
$1,750
RENT COMPS ANALYSIS
  • 1107 Westminister Lane Greenville, TX 2
    • 4 beds 2 baths ∙ 2,019 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,019 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.83
    •  
  • 118 Shawnee Greenville, TX 1
    • 4 beds 2 baths ∙ 1,921 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,921 Sqft ∙ Built 2005
    property image
    LEASED 11/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.79
    •  
  • 117 Arrowhead Drive Greenville, TX 3
    • 4 beds 2 baths ∙ 1,880 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,880 Sqft ∙ Built 2006
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.90
    •  
  • 10513 Shauna Drive Greenville, TX 4
    • 3 beds 2 baths ∙ 1,901 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,901 Sqft ∙ Built 1978
    property image
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.92
    •  
PROPERTY LISTING DETAILS
Dave Mcilrath
C. W. Sparks Management
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14531952
Last Updated: 03/13/2021
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