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1113 Riverstone Trail Princeton, TX 75407

4 Beds 2 Baths 1,590 sqft Built 2018

INVESTimate

$225,000

List Price

$1,580

$1,422 - $1,738

Rent Est.

$243,810  ( +8.36%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $141.51
  • 2 Days on Market
  • MLS # : 14420149
  • Updated Date : 08/25/2020 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,590 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

This great home is located next to neighborhood jogging trail, near community mailboxes and overlooks cluster of trees past the back yard fence with no houses directly behind. Equally impressive is the custom designed lighting system in the front to create a warm welcome and great drive up appeal. The well appointed floor plan features open living and kitchen area for family and entertaining. Beautiful granite counters and lots of cabinets further enhance this very functional kitchen. The home has 4 bedrooms which affords plenty of space to have a home office or formal dining room. Excellent location and nice, friendly neighborhood. This almost new home is just waiting for it’s new family.

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
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

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$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$830
Property Tax -$469
Property Insurance -$119
HOA -$38
Property Management Fees -$99
CASH FLOW
$25

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.

$225,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.70%

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$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$14,083

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,566

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,580
1$1,5802$1,6003$1,6004$1,6505$1,725
$1,725
RENT COMPS ANALYSIS
  • 1113 Riverstone Trail Princeton, TX 1
    • 4 beds 2 baths ∙ 1,590 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,590 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.99
    •  
  • 1004 Emerald Drive Princeton, TX 2
    • 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 2019
    property image
    LEASED 01/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.98
    •  
  • 1402 Copper Street Princeton, TX 3
    • 4 beds 2 baths ∙ 1,642 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,642 Sqft ∙ Built 2018
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.97
    •  
  • 1010 Sapphire Drive Princeton, TX 4
    • 4 beds 2 baths ∙ 1,690 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,690 Sqft ∙ Built 2019
    property image
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.98
    •  
  • 1110 Mercury Drive Princeton, TX 5
    • 4 beds 2 baths ∙ 1,701 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,701 Sqft ∙ Built 2018
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.01
    •  
PROPERTY LISTING DETAILS
Jason Newton
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14420149
Last Updated: 08/25/2020
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