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113 Stoneridge Drive Crandall, TX 75114

3 Beds 2 Baths 1,863 sqft Built 2016

$244,700

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $131.35
  • 6 Days on Market
  • MLS # : 14472543
  • Updated Date : 11/16/2020 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,863 sqft
  • Baths : 2 full
Listing Agent

Call It Closed Realty

Listing Agent's Description

Welcome home to this country cottage style home in highly sought Trinity Meadows. Spacious open floor plan offering arched doorways, art niches, and an abundance of windows for natural lighting. You'll love this charming home that offers a cute kitchen with granite countertops, stainless steel appliances, and a separate breakfast area, all over looking the spacious living room with fireplace. Relax in the soaking tub or oversized master shower with seat. This one wont last long.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Neighborhood: Trinity Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k268k

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

Neighborhood: Trinity Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000Rent in $11262060

* 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
Nola Kathryn Wilson Elementary School Primary Regular 539 33 5
Crandall Middle School Middle Regular 746 47 5
Crandall High School High Regular 921 52 5

Nola Kathryn Wilson Elementary School

  • Education Level: Primary
  • # of students: 539
  • # of teachers: 33
5
GreatSchools Rating

Crandall Middle School

  • Education Level: Middle
  • # of students: 746
  • # of teachers: 47
5
GreatSchools Rating

Crandall High School

  • Education Level: High
  • # of students: 921
  • # of teachers: 52
5
GreatSchools Rating
 

$220,230$269,170$244,700

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$903
Property Tax -$617
Property Insurance -$135
HOA -$10
Property Management Fees -$99
CASH FLOW
$56

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.

$244,700

PROJECTED PRICE

$1,820

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.9%
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-$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,596

INVESTMENT

$70,596

Down Payment
$61,175
Rehab Estimate
$5,750
Closing Costs
$3,671

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,175
Loan Amount $183,525
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$16,849

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,807

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,625
1$1,6252$1,820
$1,820
RENT COMPS ANALYSIS
  • 113 Stoneridge Drive Crandall, TX 2
    • 3 beds 2 baths ∙ 1,863 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,863 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.98
    •  
  • 209 Angelina Drive Crandall, TX 1
    • 4 beds 2 baths ∙ 1,676 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,676 Sqft ∙ Built 2004
    property image
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.97
    •  
PROPERTY LISTING DETAILS
Ronald Holliman
Call It Closed Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14472543
Last Updated: 11/16/2020
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