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11975 Massey Road Pilot Point, TX 76258

3 Beds 2 Baths 2,298 sqft Built 2004

$469,900

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $204.48
  • 3 Days on Market
  • MLS # : 14508497
  • Updated Date : 01/29/2021 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,298 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

AFFORDABLE SMALL ACREAGE HORSE PROPERTY. Horse Country USA!View Lake Ray Roberts from the back porch! Calf roper,breakaway roper,or barrel racer's dream property surrounded by modern homes and other equine properties.36X72 barn,asphalt foundation,electric,water and fully lighted 40x275 calf roping lane.Rain system attached to the barn! Barn easily accommodates 8+ stalls.(see rendering)Plenty of trailer parking next to barn with additional RV hook-up.Bonus sandy loam pipe fence turnouts, outdoor dog runs, hot walker location with electric,cement base installed.NEW roof,hot water heater,stained concrete floors,bonus living area with large closet that could easily be an office.No shortage of storage space!

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

Zip Code: 76258

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240kPrice in $102k249k

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

Zip Code: 76258

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9611734

* 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
Pilot Point Elementary School Primary Regular 321 22 NA
Pilot Point Middle School Middle Regular 232 20 6
Pilot Point High School High Regular 430 32 6

Pilot Point Elementary School

  • Education Level: Primary
  • # of students: 321
  • # of teachers: 22
NA
GreatSchools Rating

Pilot Point Middle School

  • Education Level: Middle
  • # of students: 232
  • # of teachers: 20
6
GreatSchools Rating

Pilot Point High School

  • Education Level: High
  • # of students: 430
  • # of teachers: 32
6
GreatSchools Rating
 

$422,910$516,890$469,900

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,632
Property Tax -$839
Property Insurance -$160
Property Management Fees -$99
CASH FLOW
-$560

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.

$469,900

PROJECTED PRICE

$2,170

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.8%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,274

INVESTMENT

$130,274

Down Payment
$117,475
Rehab Estimate
$5,750
Closing Costs
$7,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,632

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $117,475
Loan Amount $352,425
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$201

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,195

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1003$2,170
$2,170
RENT COMPS ANALYSIS
  • 11975 Massey Road Pilot Point, TX 3
    • 3 beds 2 baths ∙ 2,298 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,298 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.94
    •  
  • 401 N College Street Pilot Point, TX 1
    • 3 beds 2 baths ∙ 2,290 Sqft ∙ Built 2019 3 beds 2 baths ∙ 2,290 Sqft ∙ Built 2019
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.87
    •  
  • 1404 High Point Drive Pilot Point, TX 2
    • 3 beds 2 baths ∙ 2,012 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,012 Sqft ∙ Built 2003
    LEASED 07/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.04
    •  
PROPERTY LISTING DETAILS
Melissa Day
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14508497
Last Updated: 01/29/2021
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