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119 Gateway Drive Alvarado, TX 76009

3 Beds 2 Baths 1,669 sqft Built 2017

$252,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $150.99
  • 8 Days on Market
  • MLS # : 14487454
  • Updated Date : 12/24/2020 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,669 sqft
  • Baths : 2 full
Listing Agent

Keller Williams-johnson County

Listing Agent's Description

Stop searching and say good-bye to high electric bills!! Imagine yourself in this gorgeous 3 years old Bloomfield Home! Move-In Ready with easy access to I-35W. This home provides an open floor plan with a gourmet kitchen featuring granite countertops, built-in-Stainless Steel appliances, custom cabinets and a large island. Family Room infused with natural light and large Study with French Doors. Relax in your beautiful Master Bedroom Retreat with dual sinks, walk-in-closet, garden tub & separate shower. On top of it all, the installed roof solar panels will provide a near zero or minimal electric bill depending on your usage. Solar Panels being paid off at Closing. Don't let this sweet opportunity pass you by!

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: Stonegate Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Stonegate Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9051734

* 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
Alvarado High School High Regular 1,033 64 5

Alvarado High School

  • Education Level: High
  • # of students: 1,033
  • # of teachers: 64
5
GreatSchools Rating
 

$226,800$277,200$252,000

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 -$930
Property Tax -$578
Property Insurance -$124
Property Management Fees -$99
CASH FLOW
$10

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.

$252,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 8.00%
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$800k

PROJECTED ANNUAL CASH FLOW

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

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$72,530

INVESTMENT

$72,530

Down Payment
$63,000
Rehab Estimate
$5,750
Closing Costs
$3,780

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$930

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,000
Loan Amount $189,000
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$13,395

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
  • $1.04

    LIST RENT PER SQFT
  • $1,711

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,5953$1,740
$1,740
RENT COMPS ANALYSIS
  • 119 Gateway Drive Alvarado, TX 3
    • 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $1.04
    •  
  • 113 Cherokee Trail Alvarado, TX 1
    • 3 beds 2 baths ∙ 1,321 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,321 Sqft ∙ Built 2001
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.02
    •  
  • 123 Apache Trail Alvarado, TX 2
    • 4 beds 2 baths ∙ 1,556 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,556 Sqft ∙ Built 1999
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.03
    •  
PROPERTY LISTING DETAILS
Mercedes Berrios
Keller Williams-johnson County
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14487454
Last Updated: 12/24/2020
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