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1208 Sharp Street Anna, TX 75409

5 Beds 4 Baths 2,438 sqft Built 2021

$389,000

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $159.56
  • 3 Days on Market
  • MLS # : 14517722
  • Updated Date : 02/12/2021 at 15:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,438 sqft
  • Baths : 3 full , 1 half
Listing Agent

Jagjit Singh

Listing Agent's Description

Ask about our MEGAsale promotion of 6 months mortgage on us. Megatel Homes will credit the first 6 months of your new mortgage payment. See your community sales consultant for full details. MEGAsale is available for a limited time only. Mortgage payment refers to principal and interest only. Additional restrictions apply. Megatel Homes reserves the right to change or cancel the program at any time.

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: 75409

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $107k336k

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

Zip Code: 75409

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9042171

* 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
Anna High School High Regular 705 48 5

Anna High School

  • Education Level: High
  • # of students: 705
  • # of teachers: 48
5
GreatSchools Rating
 

$350,100$427,900$389,000

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$1,351
Property Tax -$783
Property Insurance -$168
HOA -$50
Property Management Fees -$99
CASH FLOW
-$191

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$389,000

PROJECTED PRICE

$2,260

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.7%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,085

INVESTMENT

$105,085

Down Payment
$97,250
Rehab Estimate
$2,000
Closing Costs
$5,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,351

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,250
Loan Amount $291,750
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$5,433

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,188

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,0003$2,0904$2,2605$2,395
$2,395
RENT COMPS ANALYSIS
  • 1208 Sharp Street Anna, TX 4
    • 5 beds 4 baths ∙ 2,438 Sqft ∙ Built 2021 5 beds 4 baths ∙ 2,438 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $0.93
    •  
  • 2409 Lupton Street Anna, TX 1
    • 4 beds 4 baths ∙ 2,326 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,326 Sqft ∙ Built 2020
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.81
    •  
  • 1609 Westfall Drive Anna, TX 2
    • 4 beds 4 baths ∙ 2,119 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,119 Sqft ∙ Built 2020
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.94
    •  
  • 1828 Clark Street Anna, TX 3
    • 4 beds 2 baths ∙ 2,163 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,163 Sqft ∙ Built 2017
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.97
    •  
  • 2118 Nuehoff Drive Anna, TX 5
    • 4 beds 3 baths ∙ 2,741 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,741 Sqft ∙ Built 2016
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.87
    •  
PROPERTY LISTING DETAILS
Jagjit Singh
Jagjit Singh
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14517722
Last Updated: 02/12/2021
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