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PROPERTY INFO
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
- . 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 76258
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$130,274
LOAN DETAILS
$1,632
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $117,475 |
| Loan Amount | $352,425 |
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
-
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
Keller Williams Realty
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14508497
Last Updated: 01/29/2021
