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118 Clear Creek Lane Terrell, TX 75160

4 Beds 3 Baths 2,139 sqft Built 2021

$249,958

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $116.86
  • 3 Days on Market
  • MLS # : 14509300
  • Updated Date : 01/29/2021 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,139 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14509300 - Built by History Maker Homes - May completion! ~ Brand new home with Craftsmen's charm. A large family room, open concept and a covered front porch. 4 bedrooms, 2.5 baths and 2 car garage with smart garage door openers. Kitchen island, smooth top range oven, built-in microwave and dishwasher. Oversized shower in master bath with dual vanity sinks and walk-in closet. Fully sodded yard with front and side yard sprinkler system and an oversized patio. WiFi everywhere guarantee!

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: Creekside Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Creekside Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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.w. Long Elementary School Primary Regular 624 37 4
Herman Furlough Jr. Middle School Middle Regular 593 41 4
Terrell High School High Regular 1,087 79 3

J.w. Long Elementary School

  • Education Level: Primary
  • # of students: 624
  • # of teachers: 37
4
GreatSchools Rating

Herman Furlough Jr. Middle School

  • Education Level: Middle
  • # of students: 593
  • # of teachers: 41
4
GreatSchools Rating

Terrell High School

  • Education Level: High
  • # of students: 1,087
  • # of teachers: 79
3
GreatSchools Rating
 

$224,962$274,954$249,958

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$868
Property Tax -$644
Property Insurance -$151
HOA -$26
Property Management Fees -$99
CASH FLOW
-$48

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$249,958

PROJECTED PRICE

$1,740

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
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

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$68,239

INVESTMENT

$68,239

Down Payment
$62,490
Rehab Estimate
$2,000
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,490
Loan Amount $187,469
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$5,963

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,679

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5003$1,740
$1,740
RENT COMPS ANALYSIS
  • 118 Clear Creek Lane Terrell, TX 3
    • 4 beds 3 baths ∙ 2,139 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,139 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.81
    •  
  • 106 Shady Creek Lane Terrell, TX 1
    • 3 beds 2 baths ∙ 1,794 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,794 Sqft ∙ Built 2006
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.81
    •  
  • 116 Forest Creek Lane Terrell, TX 2
    • 3 beds 2 baths ∙ 1,970 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,970 Sqft ∙ Built 2003
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.76
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509300
Last Updated: 01/29/2021
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