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121 Steves Way Waxahachie, TX 75165

4 Beds 3 Baths 2,140 sqft Built 2021

$329,900

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
December 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $154.16
  • 7 Days on Market
  • MLS # : 14490066
  • Updated Date : 12/28/2020 at 08:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,140 sqft
  • Baths : 2 full , 1 half
Listing Agent

Oliver Realty

Listing Agent's Description

New Phase of Willow Springs! New Construction, AGC Custom Home! This 3 bedroom, 2.1 bath home features an open floor plan with an office! The open living design between the kitchen, living and breakfast areas creates the ideal space for family gatherings with a vaulted ceiling. Large 18 x 18 covered patio, wood floors throughout the entry, office, living, kitchen, breakfast area and hallways are all standard features! Come see the difference of what a truly custom home feels like at an affordable price point! Scheduled to be complete in mid April. This small community features side entry and J swing garages with No HOA! Schedule your appt today to pick out the available colors and finishes for your home!

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

Zip Code: 75165

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $112k243k

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

Zip Code: 75165

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9841734

* 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
Felty Elementary School Primary Regular 521 33 8
Howard Junior High School Middle Regular 857 62 6
Waxahachie High School High Regular 1,985 138 4

Felty Elementary School

  • Education Level: Primary
  • # of students: 521
  • # of teachers: 33
8
GreatSchools Rating

Howard Junior High School

  • Education Level: Middle
  • # of students: 857
  • # of teachers: 62
6
GreatSchools Rating

Waxahachie High School

  • Education Level: High
  • # of students: 1,985
  • # of teachers: 138
4
GreatSchools Rating
 

$296,910$362,890$329,900

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,217
Property Tax -$716
Property Insurance -$151
Property Management Fees -$99
CASH FLOW
-$53

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$329,900

PROJECTED PRICE

$2,130

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.1%
Maintenance Year (1-5) 3.00%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$89,424

INVESTMENT

$89,424

Down Payment
$82,475
Rehab Estimate
$2,000
Closing Costs
$4,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,217

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,475
Loan Amount $247,425
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$13,698

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,119

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$2,0953$2,1004$2,1305$2,200
$2,200
RENT COMPS ANALYSIS
  • 121 Steves Way Waxahachie, TX 4
    • 4 beds 3 baths ∙ 2,140 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,140 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $1.00
    •  
  • 115 Rain Cloud Drive Waxahachie, TX 1
    • 4 beds 2 baths ∙ 2,004 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,004 Sqft ∙ Built 2017
    LEASED 05/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.94
    •  
  • 218 Range Road Waxahachie, TX 2
    • 3 beds 2 baths ∙ 2,041 Sqft ∙ Built 2013 3 beds 2 baths ∙ 2,041 Sqft ∙ Built 2013
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.03
    •  
  • 215 Range Road Waxahachie, TX 3
    • 4 beds 2 baths ∙ 2,100 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,100 Sqft ∙ Built 2014
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.00
    •  
  • 208 Ghost Rider Road Waxahachie, TX 5
    • 4 beds 3 baths ∙ 2,229 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,229 Sqft ∙ Built 2012
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.99
    •  
PROPERTY LISTING DETAILS
Chris Oliver
Oliver Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14490066
Last Updated: 12/28/2020
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