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1111 Grace Drive Princeton, TX 75407

3 Beds 2 Baths 1,439 sqft Built 2005

INVESTimate

$215,000

List Price

$1,410

$1,269 - $1,551

Rent Est.

$232,974  ( +8.36%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $149.41
  • 4 Days on Market
  • MLS # : 14419263
  • Updated Date : 08/23/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,439 sqft
  • Baths : 2 full
Listing Agent

Pinnacle Realty Advisors

Listing Agent's Description

Beautiful renovated 3 bedrooms 2 bath home located close to 380. Luxury laminate floors in living and master bed. Entire house has fresh paint. Kitchen has granite counters. Fenced back yard. Schedule a showing today!

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: 75407

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $114k243k

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

Zip Code: 75407

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8671734

* 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
Smith Elementary School Primary Regular NA
Clark Junior High School Middle Regular 540 33 8
Princeton High School High Regular 1,048 67 6

Smith Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Clark Junior High School

  • Education Level: Middle
  • # of students: 540
  • # of teachers: 33
8
GreatSchools Rating

Princeton High School

  • Education Level: High
  • # of students: 1,048
  • # of teachers: 67
6
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$793
Property Tax -$448
Property Insurance -$110
HOA -$25
Property Management Fees -$99
CASH FLOW
-$66

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.

$215,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.36%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$6,841

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,486

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,410
1$1,4102$1,4503$1,4954$1,4955$1,595
$1,595
RENT COMPS ANALYSIS
  • 1111 Grace Drive Princeton, TX 1
    • 3 beds 2 baths ∙ 1,439 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,439 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.98
    •  
  • 1113 Antoinette Drive Princeton, TX 2
    • 3 beds 2 baths ∙ 1,439 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,439 Sqft ∙ Built 2006
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.01
    •  
  • 1211 Bellevue Drive Princeton, TX 3
    • 3 beds 2 baths ∙ 1,432 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,432 Sqft ∙ Built 2009
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.04
    •  
  • 1119 Augustin Drive Princeton, TX 4
    • 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 2006
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.06
    •  
  • 1201 Caroline Drive Princeton, TX 5
    • 4 beds 2 baths ∙ 1,559 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,559 Sqft ∙ Built 2006
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.02
    •  
PROPERTY LISTING DETAILS
Liat Turkia
Pinnacle Realty Advisors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419263
Last Updated: 08/23/2020
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