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111 Chinos Trail Justin, TX 76247

4 Beds 3 Baths 2,619 sqft Built 2003

$314,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $119.89
  • 3 Days on Market
  • MLS # : 14479642
  • Updated Date : 12/04/2020 at 13:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,619 sqft
  • Baths : 2 full , 1 half
Listing Agent

Truhome Real Estate

Listing Agent's Description

Come home to this well-cared for 4 bed; 2.5 bath home nestled in the charming town of Justin. You will find many updates throughout: fresh paint, updated laminate flooring, updated lighting, and more. Plus, enjoy cooking meals in an updated eat-in kitchen that includes a beer fridge! You'll be blown away by the extra large laundry-utility room. The large flex space upstairs could be used for an office, game room, media room, etc. This house is located near schools, community amenities, shopping, dining, Tanger Outlets, and more. It's location will make commuting easy whether you're headed to Denton, Dallas, or Ft. Worth! Fall in love with the community of Justin; fall in love with this beautiful home!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Reatta Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Reatta Ridge

NeighborhoodNIR 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
 

$282,600$345,400$314,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,159
Property Tax -$654
Property Insurance -$179
HOA -$25
Property Management Fees -$99
CASH FLOW
-$225

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.

$314,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.5%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$88,960

INVESTMENT

$88,960

Down Payment
$78,500
Rehab Estimate
$5,750
Closing Costs
$4,710

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,159

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,500
Loan Amount $235,500
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$2,863

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,879

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,7003$1,8904$1,9955$1,999
$1,999
RENT COMPS ANALYSIS
  • 111 Chinos Trail Justin, TX 3
    • 4 beds 3 baths ∙ 2,619 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,619 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.72
    •  
  • 1813 Trego Drive Fort Worth, TX 1
    • 3 beds 3 baths ∙ 2,318 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,318 Sqft ∙ Built 2007
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.67
    •  
  • 1001 Summit Drive Justin, TX 2
    • 3 beds 3 baths ∙ 2,542 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,542 Sqft ∙ Built 1998
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.67
    •  
  • 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
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.80
    •  
  • 405 S Denton Avenue Justin, TX 5
    • 4 beds 4 baths ∙ 2,754 Sqft ∙ Built 1987 4 beds 4 baths ∙ 2,754 Sqft ∙ Built 1987
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.73
    •  
PROPERTY LISTING DETAILS
Lisa Dyer
Truhome Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14479642
Last Updated: 12/04/2020
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