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117 Bush Drive Venus, TX 76084

3 Beds 2 Baths 1,597 sqft Built 2020

INVESTimate

$217,900

List Price

$1,540

$1,386 - $1,694

Rent Est.

$232,303  ( +6.61%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $136.44
  • 6 Days on Market
  • MLS # : 14418273
  • Updated Date : 08/22/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,597 sqft
  • Baths : 2 full
Listing Agent

Lgi Homes

Listing Agent's Description

The Maple is a new one-story home featuring an open floor plan with 3 bedrooms and 2 full baths complete with thousands of dollars in upgrades. Upgrades include energy-efficient kitchen appliances, granite countertops, stunning wood cabinetry, brushed nickel hardware, recessed lighting and an attached two-car garage with a Wi-Fi enabled door opener installed. The Maple showcases a private master suite complete with a walk-in closet, large family room, as well as a fully fenced backyard and front yard landscaping. Sabine

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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: 76084

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $101k243k

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

Zip Code: 76084

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9871734

* 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
J.a. Vitovsky Elementary Primary Regular 646 47 4
Frank Seale Middle School Middle Regular 908 48 7
Midlothian High School High Regular 2,390 141 6

J.a. Vitovsky Elementary

  • Education Level: Primary
  • # of students: 646
  • # of teachers: 47
4
GreatSchools Rating

Frank Seale Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 48
7
GreatSchools Rating

Midlothian High School

  • Education Level: High
  • # of students: 2,390
  • # of teachers: 141
6
GreatSchools Rating
 

$196,110$239,690$217,900

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$804
Property Tax -$554
Property Insurance -$120
HOA -$31
Property Management Fees -$99
CASH FLOW
-$67

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$217,900

PROJECTED PRICE

$1,540

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.61%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$59,744

INVESTMENT

$59,744

Down Payment
$54,475
Rehab Estimate
$2,000
Closing Costs
$3,269

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$804

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,475
Loan Amount $163,425
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$5,922

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
  • $0.96

    LIST RENT PER SQFT
  • $1,537

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5403$1,5954$1,6005$1,645
$1,645
RENT COMPS ANALYSIS
  • 117 Bush Drive Venus, TX 2
    • 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.96
    •  
  • 140 Jefferson Drive Venus, TX 1
    • 3 beds 2 baths ∙ 1,637 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,637 Sqft ∙ Built 2005
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.89
    •  
  • 120 Alamo Way Venus, TX 3
    • 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 2018
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.00
    •  
  • 103 Kennedy Drive Venus, TX 4
    • 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 2017
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.00
    •  
  • 124 Lone Star Avenue Venus, TX 5
    • 3 beds 2 baths ∙ 1,719 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,719 Sqft ∙ Built 2009
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.96
    •  
PROPERTY LISTING DETAILS
Mona Hill
Lgi Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418273
Last Updated: 08/22/2020
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