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111 Saddlebag Court Newark, TX 76071

3 Beds 2 Baths 1,637 sqft Built 2008

$249,900

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $152.66
  • 2 Days on Market
  • MLS # : 14488745
  • Updated Date : 12/19/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,637 sqft
  • Baths : 2 full
Listing Agent

Re/max Preferred Properties

Listing Agent's Description

Beautiful custom brick & stone 3*2*2 with formal dining or office*study space. Spacious island kitchen with stainless appliances, plentiful storage, lots of counter space and work desk is open to breakfast dining and living area with cozy fireplace and crown molding thru out. Split bedrooms, roomy master suite, large garden tub and separate shower, with awesome walk in closet. Huge utility room with great storage. Easy to maintain privacy fenced, landscaped yard with sprinkler system and rear covered patio with ceiling fan, plus a storage shed for the tools. Community common areas include a park, club house and pool. Located just off of Hwy 287 for an easy commute to the city.

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: 76071

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $94k243k

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

Zip Code: 76071

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8441734

* 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
Seven Hills Elementary School Primary Regular 560 37 4
Chisholm Trail Middle School Middle Regular 899 64 7
Northwest High School High Regular 2,793 170 6

Seven Hills Elementary School

  • Education Level: Primary
  • # of students: 560
  • # of teachers: 37
4
GreatSchools Rating

Chisholm Trail Middle School

  • Education Level: Middle
  • # of students: 899
  • # of teachers: 64
7
GreatSchools Rating

Northwest High School

  • Education Level: High
  • # of students: 2,793
  • # of teachers: 170
6
GreatSchools Rating
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$922
Property Tax -$396
Property Insurance -$122
HOA -$37
Property Management Fees -$99
CASH FLOW
$14

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$249,900

PROJECTED PRICE

$1,590

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 3.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$16,070

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,600

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,590
1$1,5902$1,6503$1,6954$1,7005$1,750
$1,750
RENT COMPS ANALYSIS
  • 111 Saddlebag Court Newark, TX 1
    • 3 beds 2 baths ∙ 1,637 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,637 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.97
    •  
  • 103 Watering Hole Newark, TX 2
    • 3 beds 2 baths ∙ 1,749 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,749 Sqft ∙ Built 2007
    property image
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
  • 102 Cowpoke Court Newark, TX 3
    • 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 2010
    property image
    LEASED 12/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.99
    •  
  • 119 Bear Claw Court Newark, TX 4
    • 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 2010
    property image
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.00
    •  
  • 121 Chisholm Springs Court Newark, TX 5
    • 4 beds 2 baths ∙ 1,790 Sqft ∙ Built 2011 4 beds 2 baths ∙ 1,790 Sqft ∙ Built 2011
    property image
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.98
    •  
PROPERTY LISTING DETAILS
Marilyn Read
Re/max Preferred Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14488745
Last Updated: 12/19/2020
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