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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Reatta Ridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$88,960
LOAN DETAILS
$1,159
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $78,500 |
| Loan Amount | $235,500 |
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
-
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
Truhome Real Estate
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14479642
Last Updated: 12/04/2020
