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111 Cherokee Street Greenville, TX 75402

3 Beds 2 Baths 1,732 sqft Built 2017

$239,900

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $138.51
  • 5 Days on Market
  • MLS # : 14469333
  • Updated Date : 11/11/2020 at 12:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,732 sqft
  • Baths : 2 full
Listing Agent

At Home Texas Real Estate

Listing Agent's Description

Conveniently Located close to L-3! Check out this well maintained home just minutes from L-3 and all the shopping! Home Features an Open Floorplan, Large Kitchen, Fireplace, Plantation Shutters, Security System, Surround Sound, Floored Attic throughout, Split Bedrooms and a warm welcoming entryway. Schedule your Showing today! Dont miss out on this 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
 

$215,910$263,890$239,900

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 -$885
Property Tax -$539
Property Insurance -$127
HOA -$5
Property Management Fees -$99
CASH FLOW
-$106

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.

$239,900

PROJECTED PRICE

$1,550

PROJECTED RENT

0.65%

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$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$4,870

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
    • 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
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.88
    •  
  • 123 Frank Street Greenville, TX 2
    • 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 2019
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.93
    •  
  • 119 Frank Street Greenville, TX 3
    • 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 2019
    LEASED 01/01/20
    • 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
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.89
    •  
PROPERTY LISTING DETAILS
Leeann Kearney
At Home Texas Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469333
Last Updated: 11/11/2020
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