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114 Magnolia Street Anna, TX 75409

4 Beds 2 Baths 1,519 sqft Built 2005

$220,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $144.83
  • 3 Days on Market
  • MLS # : 14504268
  • Updated Date : 01/23/2021 at 12:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,519 sqft
  • Baths : 2 full
Listing Agent

Keller Williams No. Collin Cty

Listing Agent's Description

MULTIPLE OFFERS! HIGHEST AND BEST DUE BY 5:00 PM ON JANUARY 24, 2021. Investor opportunity! Tenant already contracted to rent until October 2021. 4 bedroom, 2 bath home updated with gray cabinetry, beautiful flooring, neutral designer paint colors and a great floorplan. The kitchen has stainless appliances including a refrigerator. Living room has ceramic wood-look plank flooring and wood-burning fireplace. Master bedroom suite includes relaxing bath with dual sinks, garden tub and separate shower. Large, grassy backyard, covered back patio. Laundry room and two-car garage. No HOA, Anna schools!

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

Zip Code: 75409

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $107k336k

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

Zip Code: 75409

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9042171

* 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
Anna High School High Regular 705 48 5

Anna High School

  • Education Level: High
  • # of students: 705
  • # of teachers: 48
5
GreatSchools Rating
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$764
Property Tax -$443
Property Insurance -$115
Property Management Fees -$99
CASH FLOW
$79

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$220,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$16,109

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,534

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5003$1,6004$1,6005$1,700
$1,700
RENT COMPS ANALYSIS
  • 114 Magnolia Street Anna, TX 2
    • 4 beds 2 baths ∙ 1,519 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,519 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.99
    •  
  • 122 Magnolia Street Anna, TX 1
    • 3 beds 2 baths ∙ 1,445 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,445 Sqft ∙ Built 2005
    property image
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.04
    •  
  • 315 Magnolia Street Anna, TX 3
    • 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 2003
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.98
    •  
  • 2919 Kyle Street Anna, TX 4
    • 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 2017
    property image
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.97
    •  
  • 2939 Kyle Street Anna, TX 5
    • 3 beds 2 baths ∙ 1,619 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,619 Sqft ∙ Built 2017
    property image
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.05
    •  
PROPERTY LISTING DETAILS
Charles Russell
Keller Williams No. Collin Cty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504268
Last Updated: 01/23/2021
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