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1127 Rainer Drive Princeton, TX 75407

4 Beds 2 Baths 1,829 sqft Built 2014

$239,999

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $131.22
  • 3 Days on Market
  • MLS # : 14484039
  • Updated Date : 12/11/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,829 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Welcome Home! This charming single story home was built by DH Horton in 2014. The split floorpan features 4 bedrooms, 2 baths, study all with fresh carpet and paint. In the kitchen you will find granite countertops, plenty of storage space, electric stovetop, and a build in microwave. The kitchen opens to the breakfast nook and living room making it perfect for entertaining. Water heater and electrical panel were replaced in 2020. Conveniently located near the neighborhood playground and easy access to 380. Don't miss out on this one, it won't last long! MULTIPLE OFFERS RECEIVED, SELLERS ARE REQUESTING HIGHEST & BEST BY 1:00PM ON 12-13

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
 

$215,999$263,999$239,999

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$885
Property Tax -$500
Property Insurance -$133
HOA -$25
Property Management Fees -$99
CASH FLOW
-$12

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.

$239,999

PROJECTED PRICE

$1,630

PROJECTED RENT

0.68%

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$8.0k

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$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $179,999
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$11,780

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,660

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,5953$1,5954$1,6305$1,695
$1,695
RENT COMPS ANALYSIS
  • 1127 Rainer Drive Princeton, TX 4
    • 4 beds 2 baths ∙ 1,829 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,829 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.89
    •  
  • 1020 Churchill Drive Princeton, TX 1
    • 4 beds 2 baths ∙ 1,748 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,748 Sqft ∙ Built 2006
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.90
    •  
  • 1100 Roman Drive Princeton, TX 2
    • 4 beds 2 baths ∙ 1,712 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,712 Sqft ∙ Built 2015
    property image
    LEASED 05/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.93
    •  
  • 1118 Augustin Drive Princeton, TX 3
    • 4 beds 2 baths ∙ 1,748 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,748 Sqft ∙ Built 2006
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.91
    •  
  • 1118 Roman Drive Princeton, TX 5
    • 4 beds 2 baths ∙ 1,897 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,897 Sqft ∙ Built 2015
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.89
    •  
PROPERTY LISTING DETAILS
Elizabeth Shine
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14484039
Last Updated: 12/11/2020
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