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1201 Saltgrass Drive Crowley, TX 76036

5 Beds 3 Baths 3,012 sqft Built 2005

$265,000

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $87.98
  • 2 Days on Market
  • MLS # : 14485345
  • Updated Date : 01/09/2021 at 03:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,012 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Dpr

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Lasater Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240kPrice in $122k243k

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

Neighborhood: Lasater Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* 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
S.h. Crowley Intermediate School Primary Regular 456 26 4
S.h. Crowley Intermediate School Middle Regular 456 26 4
Crowley High School High Regular 2,033 150 4

S.h. Crowley Intermediate School

  • Education Level: Primary
  • # of students: 456
  • # of teachers: 26
4
GreatSchools Rating

S.h. Crowley Intermediate School

  • Education Level: Middle
  • # of students: 456
  • # of teachers: 26
4
GreatSchools Rating

Crowley High School

  • Education Level: High
  • # of students: 2,033
  • # of teachers: 150
4
GreatSchools Rating
 

$238,500$291,500$265,000

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 -$920
Property Tax -$657
Property Insurance -$201
HOA -$10
Property Management Fees -$99
CASH FLOW
-$7

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.

$265,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.2%
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

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$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$9,464

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
  • $0.62

    LIST RENT PER SQFT
  • $2,041

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,799
1$1,7992$1,8803$1,9254$1,9755$2,000
$2,000
RENT COMPS ANALYSIS
  • 1201 Saltgrass Drive Crowley, TX 2
    • 5 beds 3 baths ∙ 3,012 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,012 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.62
    •  
  • 1124 Maplewood Lane Crowley, TX 1
    • 5 beds 3 baths ∙ 2,880 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,880 Sqft ∙ Built 2006
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.62
    •  
  • 513 Horn Street Crowley, TX 3
    • 4 beds 3 baths ∙ 2,722 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,722 Sqft ∙ Built 2019
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.71
    •  
  • 1133 Beaverwood Lane Crowley, TX 4
    • 5 beds 3 baths ∙ 2,912 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,912 Sqft ∙ Built 2006
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.68
    •  
  • 908 Brighton Way Burleson, TX 5
    • 4 beds 3 baths ∙ 2,868 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,868 Sqft ∙ Built 2006
    LEASED 07/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.70
    •  
PROPERTY LISTING DETAILS
Claudia Enriquez
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14485345
Last Updated: 01/09/2021
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