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11694 Thistle Lane Justin, TX 76247

4 Beds 3 Baths 2,104 sqft Built 2005

$225,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $106.94
  • 6 Days on Market
  • MLS # : 14495162
  • Updated Date : 01/12/2021 at 12:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,104 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fathom Realty

Listing Agent's Description

Spacious 4 bedroom home with two and a half baths on a acre of land in Justin. Metal roof only a year old. Nice oversized kitchen with island. Split bedroom arrangement. Acre of Land! Home is in great shape and waiting for its new family. Build a shop on your acre of land....welcome to the country with city convenience, just a short drive to the highway for your work commute. Home is located outside city limits so NO CITY TAXES! Home has never been moved and should be eligible for all financing!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Sage Meadows

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320kPrice in $74k336k

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

Neighborhood: Sage Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10532171

* 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
W.r. Hatfield Elementary School Primary Regular 411 30 6
Gene Pike Middle School Middle Regular 743 53 7
Northwest High School High Regular 2,793 170 6

W.r. Hatfield Elementary School

  • Education Level: Primary
  • # of students: 411
  • # of teachers: 30
6
GreatSchools Rating

Gene Pike Middle School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 53
7
GreatSchools Rating

Northwest High School

  • Education Level: High
  • # of students: 2,793
  • # of teachers: 170
6
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$782
Property Tax -$469
Property Insurance -$149
Property Management Fees -$99
CASH FLOW
$142

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.

$225,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.7%
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$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$21,297

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,641

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6253$1,6404$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 11694 Thistle Lane Justin, TX 3
    • 4 beds 3 baths ∙ 2,104 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,104 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.78
    •  
  • 1805 Diamond Lake Trail Fort Worth, TX 1
    • 4 beds 2 baths ∙ 2,093 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,093 Sqft ∙ Built 2007
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.76
    •  
  • 1616 Diamond Lake Trail Fort Worth, TX 2
    • 4 beds 2 baths ∙ 2,093 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,093 Sqft ∙ Built 2006
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.78
    •  
  • 1608 Diamond Lake Trail Fort Worth, TX 4
    • 4 beds 2 baths ∙ 2,093 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,093 Sqft ∙ Built 2006
    LEASED 07/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.79
    •  
  • 16709 Woodside Drive Fort Worth, TX 5
    • 4 beds 2 baths ∙ 2,093 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,093 Sqft ∙ Built 2005
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.79
    •  
PROPERTY LISTING DETAILS
Heather Clay
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14495162
Last Updated: 01/12/2021
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