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1156 Highland Station Drive Saginaw, TX 76131

3 Beds 2 Baths 1,667 sqft Built 1989

$230,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $137.97
  • 4 Days on Market
  • MLS # : 14506751
  • Updated Date : 01/30/2021 at 17:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,667 sqft
  • Baths : 2 full
Listing Agent

Orchard Brokerage

Listing Agent's Description

BEST AND FINAL DUE 2.1.2021 AT 10AM. Charming two-story home on a spacious lot with beautiful live oaks trees surrounding the property. Open layout with vaulted 20ft ceilings in the dining and living room and sunshine flooding through the large windows throughout. Luxury vinyl plank wood-look floors are underfoot through high-traffic areas and carpet is installed in all bedrooms. Main level Master Suite features a walk in closet and full bath. On the upper level the secondary bedrooms boast generous size while the game room has potential for exercise studio, home movie theatre or study. Enjoy the large backyard perfect for Texas summer cook-outs or leisure.

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: 76131

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $115k243k

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

Zip Code: 76131

ZipNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11021734

* 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
High Country Elementary School Primary Regular 633 35 6
Highland Middle School Middle Regular 815 54 7
Saginaw High School High Regular 1,785 113 6

High Country Elementary School

  • Education Level: Primary
  • # of students: 633
  • # of teachers: 35
6
GreatSchools Rating

Highland Middle School

  • Education Level: Middle
  • # of students: 815
  • # of teachers: 54
7
GreatSchools Rating

Saginaw High School

  • Education Level: High
  • # of students: 1,785
  • # of teachers: 113
6
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$799
Property Tax -$500
Property Insurance -$124
Property Management Fees -$99
CASH FLOW
$19

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.

$230,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$11,238

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,546

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5403$1,6254$1,6755$1,695
$1,695
RENT COMPS ANALYSIS
  • 1156 Highland Station Drive Saginaw, TX 2
    • 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.92
    •  
  • 805 Stafford Station Drive Saginaw, TX 1
    • 3 beds 2 baths ∙ 1,744 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,744 Sqft ∙ Built 1999
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.86
    •  
  • 1033 Harriman Drive Saginaw, TX 3
    • 4 beds 2 baths ∙ 1,734 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,734 Sqft ∙ Built 1999
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.94
    •  
  • 1105 Trinity Trail Saginaw, TX 4
    • 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1999
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.97
    •  
  • 736 Cardinal Drive Saginaw, TX 5
    • 3 beds 2 baths ∙ 1,804 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,804 Sqft ∙ Built 2001
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.94
    •  
PROPERTY LISTING DETAILS
Alix Spruce
Orchard Brokerage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14506751
Last Updated: 01/30/2021
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