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114 Esther Court Millsap, TX 76087

4 Beds 3 Baths 2,606 sqft Built 2020

INVESTimate

$397,000

List Price

$2,730

$2,480 - $2,980

Rent Est.

$420,780  ( +5.99%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $152.34
  • 4 Days on Market
  • MLS # : 14416737
  • Updated Date : 08/23/2020 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,606 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

BROCK ISD. Beautiful custom home conveniently located close to I20 and access to Fort Worth. High end finishes await you as you enter the vaulted foyer and open concept family room and kitchen. 64 in cabinets, large island with stainless steel appliances. Decor tile in the mud entry, and pantry. Enjoy the game room or flex space with a full bathroom just outside of it. The master bedroom is oversized and is complimented with a beautiful ensuite bath with walk in shower and decor tile. Your evenings can be spent on the large covered back patio with an expansive back yard. See Home Features & Highlights in DS.

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: 76087

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $104k342k

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

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10412171

* 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
Millsap Elementary School Primary Regular 419 28 5
Millsap Middle School Middle Regular 202 15 7
Millsap High School High Regular 259 24 5

Millsap Elementary School

  • Education Level: Primary
  • # of students: 419
  • # of teachers: 28
5
GreatSchools Rating

Millsap Middle School

  • Education Level: Middle
  • # of students: 202
  • # of teachers: 15
7
GreatSchools Rating

Millsap High School

  • Education Level: High
  • # of students: 259
  • # of teachers: 24
5
GreatSchools Rating
 

$357,300$436,700$397,000

PURCHASE PRICE

$2,457$3,003$2,730

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,730
EXPENSES Loan Payment -$1,465
Property Tax -$845
Property Insurance -$178
HOA -$17
Property Management Fees -$99
CASH FLOW
$127

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$397,000

PROJECTED PRICE

$2,730

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.99%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,205

INVESTMENT

$107,205

Down Payment
$99,250
Rehab Estimate
$2,000
Closing Costs
$5,955

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,465

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,250
Loan Amount $297,750
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$34,145

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,730

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $2,736

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,730
1$2,7302$2,950
$2,950
RENT COMPS ANALYSIS
  • 114 Esther Court Millsap, TX 1
    • 4 beds 3 baths ∙ 2,606 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,606 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,730
    • $1.05
    •  
  • 118 Esther Court Weatherford, TX 2
    • 4 beds 3 baths ∙ 2,820 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,820 Sqft ∙ Built 2018
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.05
    •  
PROPERTY LISTING DETAILS
Janice Warman
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416737
Last Updated: 08/23/2020
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