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111 Cherokee Street Greenville, TX 75402

3 Beds 2 Baths 1,732 sqft Built 2017

$223,400

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $128.98
  • 5 Days on Market
  • MLS # : 14486770
  • Updated Date : 12/23/2020 at 23:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,732 sqft
  • Baths : 2 full
Listing Agent

Re/max-3d Real Estate

Listing Agent's Description

This Immaculate, and well maintained open concept 3 Bedroom 2 Bath home is located in the Cedar Creek Subdivision and ready for it's new owners. It is centrally located and only a few minutes from L3 Harris, Restaurants, and Shopping. A split floor plan with master bedroom walk-in closet and master bathroom ensuite with jetted tub, separate walk in shower with double sink granite top. Complete surround sound system available, and large walk in foyer with beautiful decorative ceiling. A Must See home with a large brick wood burning fireplace in living room. Kitchen has beautiful granite top counter tops with breakfast bar, and beautiful cabinets. You don't want to miss out on this great opportunity.

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: 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
Bowie Elementary School Primary Regular 480 31 4
Greenville Middle School Middle Regular 687 46 5
Greenville High School High Regular 1,077 89 5

Bowie Elementary School

  • Education Level: Primary
  • # of students: 480
  • # of teachers: 31
4
GreatSchools Rating

Greenville Middle School

  • Education Level: Middle
  • # of students: 687
  • # of teachers: 46
5
GreatSchools Rating

Greenville High School

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

$201,060$245,740$223,400

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$824
Property Tax -$525
Property Insurance -$127
HOA -$5
Property Management Fees -$99
CASH FLOW
-$30

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.

$223,400

PROJECTED PRICE

$1,550

PROJECTED RENT

0.69%

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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,951

INVESTMENT

$64,951

Down Payment
$55,850
Rehab Estimate
$5,750
Closing Costs
$3,351

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$824

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,850
Loan Amount $167,550
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$8,646

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,572

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5003$1,5004$1,5255$1,550
$1,550
RENT COMPS ANALYSIS
  • 111 Cherokee Street Greenville, TX 5
    • 3 beds 2 baths ∙ 1,732 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,732 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.89
    •  
  • 128 Cherokee Street Greenville, TX 1
    • 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 2017
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.88
    •  
  • 119 Frank Street Greenville, TX 2
    • 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 2019
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.93
    •  
  • 106 Frank Street Greenville, TX 3
    • 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 2019
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.93
    •  
  • 8829 Kiowa Drive Greenville, TX 4
    • 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 2015
    property image
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.89
    •  
PROPERTY LISTING DETAILS
Garland Brumit
Re/max-3d Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14486770
Last Updated: 12/23/2020
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