Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

121 Joyce Argyle, TX 76226

3 Beds 2 Baths 2,333 sqft Built 2006

$390,000

List Price

$2,430

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $167.17
  • 1 Days on Market
  • MLS # : 14494555
  • Updated Date : 01/09/2021 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,333 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty, Llc

Listing Agent's Description

Welcome home to your own personal retreat on .69 acres with a gorgeous guest house! The renovated main home features 3 bedrooms, 2 full bathrooms and a home office. The guest house has an additional 2 bedrooms, kitchenette and full bath. This gorgeous home has brand new details throughout...fresh paint, new fixtures, durable wood like ceramic flooring. The kitchen features new white shaker style cabinets, granite counters and ceramic backsplash, and whole house water softener. Also updated is a new HVAC system, 80 gallon hot water heater, cedar fence and exterior paint, outdoor lighting and landscaping. No HOA. Argyle ISD. Bring your offers, this home will not last long!

SEE MORE

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: Johnson Acres

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $107k417k

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

Neighborhood: Johnson Acres

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10012676

* 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
Argyle Intermediate School Primary Regular 295 17 8
Argyle Intermediate School Middle Regular 295 17 8
Argyle High School High Regular 711 50 8

Argyle Intermediate School

  • Education Level: Primary
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle Intermediate School

  • Education Level: Middle
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle High School

  • Education Level: High
  • # of students: 711
  • # of teachers: 50
8
GreatSchools Rating
 

$351,000$429,000$390,000

PURCHASE PRICE

$2,187$2,673$2,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$1,355
Property Tax -$775
Property Insurance -$162
Property Management Fees -$99
CASH FLOW
$39

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.

$390,000

PROJECTED PRICE

$2,430

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 8.00%
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-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,355

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$20,460

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $2,473

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,3403$2,4304$2,6505$2,850
$2,850
RENT COMPS ANALYSIS
  • 121 Joyce Argyle, TX 3
    • 3 beds 2 baths ∙ 2,333 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,333 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $1.04
    •  
  • 314 Chisholm Trail Argyle, TX 1
    • 4 beds 2 baths ∙ 2,257 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,257 Sqft ∙ Built 1998
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.00
    •  
  • 1500 Wren Street Argyle, TX 2
    • 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 2018
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $1.06
    •  
  • 11037 Longleaf Lane Flower Mound, TX 4
    • 4 beds 3 baths ∙ 2,544 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,544 Sqft ∙ Built 2017
    LEASED 08/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.04
    •  
  • 405 Dallas Street Argyle, TX 5
    • 3 beds 3 baths ∙ 2,509 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,509 Sqft ∙ Built 2008
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.14
    •  
PROPERTY LISTING DETAILS
Kristen Wright
Fathom Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14494555
Last Updated: 01/09/2021
BESbswy