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111 University Street Farmersville, TX 75442

3 Beds 2 Baths 1,833 sqft Built 2020

$235,900

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $128.70
  • 4 Days on Market
  • MLS # : 14487605
  • Updated Date : 12/16/2020 at 22:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,833 sqft
  • Baths : 2 full
Listing Agent

Insight Realty Network

Listing Agent's Description

Home includes high ceilings, arched doorways, and rounded corners. Upgraded master bath with spacious closets. Granite kitchen countertops with built-in Stove, Dishwasher, and Microwave. If purchased early enough the Buyer can pick Tile in Wet Areas AND carpet elsewhere or they can choose Vinyl Wood Plank throughout the house. The backyard will include.

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: 75442

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $101k297k

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

Zip Code: 75442

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8381734

* 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
Farmersville Intermediate School Primary Regular 490 31 6
Farmersville Junior High School Middle Regular 373 24 8
Farmersville High School High Regular 450 35 6

Farmersville Intermediate School

  • Education Level: Primary
  • # of students: 490
  • # of teachers: 31
6
GreatSchools Rating

Farmersville Junior High School

  • Education Level: Middle
  • # of students: 373
  • # of teachers: 24
8
GreatSchools Rating

Farmersville High School

  • Education Level: High
  • # of students: 450
  • # of teachers: 35
6
GreatSchools Rating
 

$212,310$259,490$235,900

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$870
Property Tax -$458
Property Insurance -$133
Property Management Fees -$99
CASH FLOW
$559

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$235,900

PROJECTED PRICE

$2,120

PROJECTED RENT

0.90%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.8%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$64,514

INVESTMENT

$64,514

Down Payment
$58,975
Rehab Estimate
$2,000
Closing Costs
$3,539

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$870

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,975
Loan Amount $176,925
See What Happens When You Reinvest Cash Flow

15.58

YEARS SAVED

$72,120

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $2,131

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$2,0003$2,0004$2,1205$2,400
$2,400
RENT COMPS ANALYSIS
  • 111 University Street Farmersville, TX 4
    • 3 beds 2 baths ∙ 1,833 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,833 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $1.16
    •  
  • 503 Meadowview Street Farmersville, TX 1
    • 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 2006
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.10
    •  
  • 118 Harvard Boulevard Farmersville, TX 2
    • 3 beds 2 baths ∙ 1,677 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,677 Sqft ∙ Built 2018
    property image
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.19
    •  
  • 507 Meadowview Street Farmersville, TX 3
    • 4 beds 2 baths ∙ 1,649 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,649 Sqft ∙ Built 2005
    property image
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.21
    •  
  • 915 Southgate Court Farmersville, TX 5
    • 3 beds 3 baths ∙ 2,093 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,093 Sqft ∙ Built 2018
    property image
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.15
    •  
PROPERTY LISTING DETAILS
Reuben Riojas
Insight Realty Network
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14487605
Last Updated: 12/16/2020
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