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1122 Caroline Drive Princeton, TX 75407

3 Beds 2 Baths 1,716 sqft Built 2006

$245,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $142.77
  • 2 Days on Market
  • MLS # : 14492718
  • Updated Date : 01/01/2021 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,716 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Frisco Stars

Listing Agent's Description

CHARMING HOME IS A MUST SEE!!! This delightful one-story 3 bedroom home in The Villas of Monte Carlo is ready for you to move in. Corner Lot with a Fantastic layout! Entering you are greeted by tile flooring throughout that resembles wood and a flex space for either dining or living. At the center of the home you will find a very open Kitchen and Living Room with tall ceilings. Kitchen has beautiful cabinets and island. Just past the Living Room you will find Secondary bedrooms, separated by a full bath. Large Master Bedroom - Bath with tall ceilings and plenty of space. Oversized Utility Room and large backyard are just a few other great features of this home. Schedule an appointment today!

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: 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
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$904
Property Tax -$511
Property Insurance -$126
HOA -$50
Property Management Fees -$99
CASH FLOW
-$90

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.

$245,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
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$800k

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$6,469

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,720

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5753$1,5954$1,6005$1,695
$1,695
RENT COMPS ANALYSIS
  • 1122 Caroline Drive Princeton, TX 4
    • 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.93
    •  
  • 1209 Bellevue Drive Princeton, TX 1
    • 3 beds 2 baths ∙ 1,591 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,591 Sqft ∙ Built 2008
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.97
    •  
  • 1207 Caroline Drive Princeton, TX 2
    • 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 2013
    property image
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.01
    •  
  • 1201 Caroline Drive Princeton, TX 3
    • 4 beds 2 baths ∙ 1,559 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,559 Sqft ∙ Built 2006
    property image
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.02
    •  
  • 1217 Antoinette Drive Princeton, TX 5
    • 3 beds 2 baths ∙ 1,684 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,684 Sqft ∙ Built 2013
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.01
    •  
PROPERTY LISTING DETAILS
Jonathan Stroud
Keller Williams Frisco Stars
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14492718
Last Updated: 01/01/2021
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