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1200 Westminister Lane Greenville, TX 75402

4 Beds 3 Baths 2,676 sqft Built 1992

$289,900

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $108.33
  • 6 Days on Market
  • MLS # : 14511508
  • Updated Date : 03/13/2021 at 16:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,676 sqft
  • Baths : 3 full
Listing Agent

Tarpley, Realtors

Listing Agent's Description

This awesome home offers a wealth of features and finishes ideal for entertaining, including 2 living areas, a formal dining area, a well appointed island kitchen with granite countertops and beautiful wood cabinets and a split bedroom design ideal for your family. The master suite has cathedral ceiling, dual walk-in closets, dual lavs and a garden jetted tub with separate shower. The cozy den has loads of built-ins and the utility is oversized. Easy care wood floors and a gas log fireplace are sure to make those chilly nights comfy. The yard is sprinklered with a privacy wood fence and mature trees and landscaping. Just off Old Mill Road with easy access to L3Harris and direct access to the MetroTex.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Zip Code: 75402

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $68k243k

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

Zip Code: 75402

ZipNIR Market*Market2010Year20002019 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
Lamar Elementary School Primary Regular 594 39 5
6th Grade Center Middle Regular 318 25 3
Greenville High School High Regular 1,077 89 5

Lamar Elementary School

  • Education Level: Primary
  • # of students: 594
  • # of teachers: 39
5
GreatSchools Rating

6th Grade Center

  • Education Level: Middle
  • # of students: 318
  • # of teachers: 25
3
GreatSchools Rating

Greenville High School

  • Education Level: High
  • # of students: 1,077
  • # of teachers: 89
5
GreatSchools Rating
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,007
Property Tax -$654
Property Insurance -$182
Property Management Fees -$99
CASH FLOW
-$62

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.

$289,900

PROJECTED PRICE

$1,880

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.0%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$7,323

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,927

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,880
$1,880
RENT COMPS ANALYSIS
  • 1200 Westminister Lane Greenville, TX 2
    • 4 beds 3 baths ∙ 2,676 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,676 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.70
    •  
  • 9803 Hunters Run Street Greenville, TX 1
    • 3 beds 2 baths ∙ 2,554 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,554 Sqft ∙ Built 1998
    property image
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.72
    •  
PROPERTY LISTING DETAILS
Randall Tarpley
Tarpley, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14511508
Last Updated: 03/13/2021
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