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1140 W Fm 917 Joshua, TX 76058

3 Beds 2 Baths 2,200 sqft Built 2015

$620,000

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $281.82
  • 2 Days on Market
  • MLS # : 14496956
  • Updated Date : 01/16/2021 at 16:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,200 sqft
  • Baths : 2 full
Listing Agent

Century 21 A-one Realty

Listing Agent's Description

RARE FIND!! CUSTOM Home Nestled Back in the PINES on 5.510 ACRES! Hidden off 917, this UNIQUE Home is OPEN Concept with WRAP-Around Covered Front PORCHES. Updated Features Throughout: Gorgeous STONE Wood-Burning Fireplace, Large Dining, and GREAT Country Kitchen with GRANITE Countertops, Custom Cabinetry, Breakfast Bar and NOOK. Owner's RETREAT Privately located with Ensuite BATH. Ornate IRON Rails on Staircase to Fantastic LOFT OPENS to Downstairs, Offering 2 FLEX Rooms: 3rd BR and Office OR Game Rm and even 4th BR possibilities! 240 sqft TIKI Shed with HOT TUB, Bar, and OVERHEAD Door: Workshop Potential. Outdoor FIREPIT, Attached 3-CAR Garage, 4-CAR Carport, and Covered RV Parking with 50 AMP Charging PLUG!!

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: 76058

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 76058

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$558,000$682,000$620,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$2,153
Property Tax -$1,486
Property Insurance -$154
Property Management Fees -$99
CASH FLOW
-$1,713

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.

$620,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$170,050

INVESTMENT

$170,050

Down Payment
$155,000
Rehab Estimate
$5,750
Closing Costs
$9,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$2,153

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $155,000
Loan Amount $465,000
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$5,054

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,178

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,1803$2,195
$2,195
RENT COMPS ANALYSIS
  • 1140 W Fm 917 Joshua, TX 2
    • 3 beds 2 baths ∙ 2,200 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,200 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.99
    •  
  • 1164 Sapphire Lane Burleson, TX 1
    • 3 beds 2 baths ∙ 1,937 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,937 Sqft ∙ Built 2014
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.01
    •  
  • 1537 Blue Lake Drive Burleson, TX 3
    • 3 beds 2 baths ∙ 2,260 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,260 Sqft ∙ Built 2018
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.97
    •  
PROPERTY LISTING DETAILS
Tina Pace
Century 21 A-one Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14496956
Last Updated: 01/16/2021
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