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1216 Bellevue Drive Princeton, TX 75407

4 Beds 3 Baths 2,580 sqft Built 2006

$272,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $105.43
  • 2 Days on Market
  • MLS # : 14536320
  • Updated Date : 03/20/2021 at 22:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,580 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jpar Arlington

Listing Agent's Description

Multiple Offers Received! Submit best and highest by Tuesday 3-23 at 12:00pm. This home has been meticulously maintained by owners. Check out the fascinating underground storm shelter in the garage!!! Great floorplan, downstairs you have the formal living & dining rooms, kitchen, half bath, laundry room and owners suite. Upstairs you have 3 bedrooms, a large living area or game room and full bath. NO carpet, beautiful ceramic title throughout downstairs and wood floors upstairs. Roof and gutters replaced in 2018, AC unit replaced in 2019, all granite countertops and backyard shed stays. Don't miss it, book your appointment today!

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
 

$244,800$299,200$272,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$945
Property Tax -$567
Property Insurance -$176
HOA -$25
Property Management Fees -$99
CASH FLOW
-$42

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.

$272,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,830

INVESTMENT

$77,830

Down Payment
$68,000
Rehab Estimate
$5,750
Closing Costs
$4,080

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$945

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,000
Loan Amount $204,000
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$8,548

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,929

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,770
1$1,7702$1,8003$1,9904$1,9955$2,025
$2,025
RENT COMPS ANALYSIS
  • 1216 Bellevue Drive Princeton, TX 1
    • 4 beds 3 baths ∙ 2,580 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,580 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.69
    •  
  • 1122 Grace Drive Princeton, TX 2
    • 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
    •  
  • 1004 Churchill Drive Princeton, TX 3
    • 4 beds 3 baths ∙ 2,630 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,630 Sqft ∙ Built 2018
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.76
    •  
  • 1421 Park Trails Boulevard Princeton, TX 4
    • 5 beds 3 baths ∙ 2,700 Sqft ∙ Built 2019 5 beds 3 baths ∙ 2,700 Sqft ∙ Built 2019
    LEASED 05/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.74
    •  
  • 1405 Park Trails Boulevard Princeton, TX 5
    • 5 beds 3 baths ∙ 2,700 Sqft ∙ Built 2019 5 beds 3 baths ∙ 2,700 Sqft ∙ Built 2019
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,025
    • $0.75
    •  
PROPERTY LISTING DETAILS
Katiria Lajara
Jpar Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14536320
Last Updated: 03/20/2021
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