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117 Pafford Street Justin, TX 76247

3 Beds 2 Baths 1,400 sqft Built 1996

$179,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $127.86
  • 3 Days on Market
  • MLS # : 14470321
  • Updated Date : 11/13/2020 at 18:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,400 sqft
  • Baths : 2 full
Listing Agent

Orchard Brokerage

Listing Agent's Description

**MULTIPLE OFFERS - SUBMIT BEST & FINAL OFFER BY 12pm NOV 16, 2020** Charming single-story home in a great location near parks and schools. Open floor plan with generous room sizes. The kitchen has a gas range. Beautiful laminate flooring in the mater with an en-suite bath. Spacious guest bedrooms. Covered porch and private yard with a workshop. The home is cleaned and disinfected on a regular basis.

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

Neighborhood: Leuty Highland

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $92k243k

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

Neighborhood: Leuty Highland

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8591737

* 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
Justin Elementary School Primary Regular 506 33 5
Gene Pike Middle School Middle Regular 743 53 7
Northwest High School High Regular 2,793 170 6

Justin Elementary School

  • Education Level: Primary
  • # of students: 506
  • # of teachers: 33
5
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
 

$161,100$196,900$179,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$660
Property Tax -$373
Property Insurance -$108
Property Management Fees -$99
CASH FLOW
$239

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.

$179,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.83%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.7%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,185

INVESTMENT

$53,185

Down Payment
$44,750
Rehab Estimate
$5,750
Closing Costs
$2,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $44,750
Loan Amount $134,250
See What Happens When You Reinvest Cash Flow

11.17

YEARS SAVED

$34,215

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,477

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4803$1,6004$1,7005$1,750
$1,750
RENT COMPS ANALYSIS
  • 117 Pafford Street Justin, TX 2
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $1.06
    •  
  • 513 N Snyder Avenue Justin, TX 1
    • 3 beds 2 baths ∙ 1,348 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,348 Sqft ∙ Built 2008
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.08
    •  
  • 303 Barrett Drive Justin, TX 3
    • 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1977
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.08
    •  
  • 303 S Denton Avenue Justin, TX 4
    • 3 beds 2 baths ∙ 1,695 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,695 Sqft ∙ Built 1984
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.00
    •  
  • 229 Cedar Crest Drive Justin, TX 5
    • 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 2006
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.06
    •  
PROPERTY LISTING DETAILS
Quen Williams
Orchard Brokerage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470321
Last Updated: 11/13/2020
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