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1201 Jasper Crossing Princeton, TX 75407

5 Beds 4 Baths 2,338 sqft Built 2017

INVESTimate

$269,900

List Price

$1,820

$1,638 - $2,002

Rent Est.

$292,464  ( +8.36%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $115.44
  • 7 Days on Market
  • MLS # : 14417149
  • Updated Date : 08/20/2020 at 04:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,338 sqft
  • Baths : 3 full , 1 half
Listing Agent

Monument Realty

Listing Agent's Description

Rare find in the Trails at Riverstone with private backyard backing up to a heavily treed greenbelt! Beautiful two story home with five bedrooms, three and a half bathrooms, and a two car garage. Arched doorways, open floorplan, breakfast nook plus formal dining area that can be used for flex space. Kitchen and breakfast nook open to family room! Vaulted ceilings throughout. Four bedrooms up and split master down. Covered back patio with grassy area. Sprinkler system, canned lighting, community pool, playgrounds, nature trails, and other neighborhood amenities within walking distance.

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: 75407

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $114k243k

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

Zip Code: 75407

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8671734

* 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
Smith Elementary School Primary Regular NA
Clark Junior High School Middle Regular 540 33 8
Princeton High School High Regular 1,048 67 6

Smith Elementary School

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

Clark Junior High School

  • Education Level: Middle
  • # of students: 540
  • # of teachers: 33
8
GreatSchools Rating

Princeton High School

  • Education Level: High
  • # of students: 1,048
  • # of teachers: 67
6
GreatSchools Rating
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

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$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$996
Property Tax -$562
Property Insurance -$162
HOA -$38
Property Management Fees -$99
CASH FLOW
-$37

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.

$269,900

PROJECTED PRICE

$1,820

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.36%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$11,277

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,876

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,685
1$1,6852$1,8003$1,8004$1,8005$1,820
$1,820
RENT COMPS ANALYSIS
  • 1201 Jasper Crossing Princeton, TX 5
    • 5 beds 4 baths ∙ 2,338 Sqft ∙ Built 2017 5 beds 4 baths ∙ 2,338 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.78
    •  
  • 1008 Emerald Drive Princeton, TX 1
    • 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 2019
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $0.79
    •  
  • 1405 Granite Path Princeton, TX 2
    • 4 beds 3 baths ∙ 2,147 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,147 Sqft ∙ Built 2017
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.84
    •  
  • 702 Rustic Meadows Trail Princeton, TX 3
    • 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 2018
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.84
    •  
  • 1122 Grace Drive Princeton, TX 4
    • 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 2005
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.74
    •  
PROPERTY LISTING DETAILS
Tiffany Burns
Monument Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417149
Last Updated: 08/20/2020
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