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1109 Heritage Drive Justin, TX 76247

4 Beds 3 Baths 2,550 sqft Built 2020

$454,900

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $178.39
  • 3 Days on Market
  • MLS # : 14496432
  • Updated Date : 01/08/2021 at 10:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,550 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14496432 - Built by Brookson Builders - April completion! ~ The 4 Uplights on the exterior give this home an elegant look after the sun sets that makes the home feel welcoming no matter the time. The Wood Look Tile begins in the entryway and continues throughout the kitchen, pantry, Dining Room, Mud Room, Utility Room, Hall to Master, and Living Room. The kitchen and breakfast nook have crown molding and we’ve installed 4 flush mount lights in the game room. In the living area there is a 12 Wall Painted Brick Fire Place with a Barn Wood Mantel complete with an outlet for mounting a tv. The Utility Room with upgraded tile includes extra storage.

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

Zip Code: 76247

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 76247

ZipNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10532171

* 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
 

$409,410$500,390$454,900

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,580
Property Tax -$948
Property Insurance -$175
HOA -$33
Property Management Fees -$99
CASH FLOW
-$814

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.

$454,900

PROJECTED PRICE

$2,020

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.7%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,549

INVESTMENT

$122,549

Down Payment
$113,725
Rehab Estimate
$2,000
Closing Costs
$6,824

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,580

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $113,725
Loan Amount $341,175
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$20

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,002

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7253$1,8504$1,9955$2,020
$2,020
RENT COMPS ANALYSIS
  • 1109 Heritage Drive Justin, TX 5
    • 4 beds 3 baths ∙ 2,550 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,550 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.79
    •  
  • 1929 Shasta View Drive Fort Worth, TX 1
    • 3 beds 3 baths ∙ 2,318 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,318 Sqft ∙ Built 2006
    property image
    LEASED 09/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.73
    •  
  • 210 Cedar Crest Drive Justin, TX 2
    • 3 beds 3 baths ∙ 2,206 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,206 Sqft ∙ Built 2004
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.78
    •  
  • 433 Chisholm Trail Justin, TX 3
    • 4 beds 2 baths ∙ 2,236 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,236 Sqft ∙ Built 2008
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.83
    •  
  • 408 Silver Mine Drive Justin, TX 4
    • 5 beds 3 baths ∙ 2,497 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,497 Sqft ∙ Built 2003
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.80
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14496432
Last Updated: 01/08/2021
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