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115 Munchus Street Waxahachie, TX 75165

4 Beds 2 Baths 1,400 sqft Built 2002

$168,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $120.00
  • 6 Days on Market
  • MLS # : 14464353
  • Updated Date : 11/03/2020 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,400 sqft
  • Baths : 2 full
Listing Agent

Re/max Arbors

Listing Agent's Description

Must see four bedrooms two bath home, newly painted and updates throughout the home. New HVAC system. Large kitchen and living room. Large master bedroom with walk-in closets.

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: 75165

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $112k243k

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

Zip Code: 75165

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9841734

* 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
Marvin Elementary School Primary Regular NA
Finley Junior High School Middle Regular 882 64 5
Waxahachie High School High Regular 1,985 138 4

Marvin Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Finley Junior High School

  • Education Level: Middle
  • # of students: 882
  • # of teachers: 64
5
GreatSchools Rating

Waxahachie High School

  • Education Level: High
  • # of students: 1,985
  • # of teachers: 138
4
GreatSchools Rating
 

$151,200$184,800$168,000

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 -$620
Property Tax -$365
Property Insurance -$108
Property Management Fees -$99
CASH FLOW
$308

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.

$168,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.89%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.1%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,270

INVESTMENT

$50,270

Down Payment
$42,000
Rehab Estimate
$5,750
Closing Costs
$2,520

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$620

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $42,000
Loan Amount $126,000
See What Happens When You Reinvest Cash Flow

13.17

YEARS SAVED

$40,252

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
  • $1.07

    LIST RENT PER SQFT
  • $1,498

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5003$1,6504$1,6955$1,700
$1,700
RENT COMPS ANALYSIS
  • 115 Munchus Street Waxahachie, TX 2
    • 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.07
    •  
  • 624 Jordan Lane Waxahachie, TX 1
    • 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 2006
    property image
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.05
    •  
  • 612 Antonio Lane Waxahachie, TX 3
    • 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 2013
    property image
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.09
    •  
  • 1204 Wyatt Street Waxahachie, TX 4
    • 4 beds 2 baths ∙ 1,522 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,522 Sqft ∙ Built 2017
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.11
    •  
  • 86 Briar Lane Waxahachie, TX 5
    • 4 beds 2 baths ∙ 1,646 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,646 Sqft ∙ Built 2006
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.03
    •  
PROPERTY LISTING DETAILS
Kimberly Jansonius
Re/max Arbors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464353
Last Updated: 11/03/2020
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