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1217 Newcastle Street Roanoke, TX 76262

4 Beds 4 Baths 3,590 sqft Built 2010

$475,000

List Price

$3,110

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $132.31
  • 3 Days on Market
  • MLS # : 14528720
  • Updated Date : 03/26/2021 at 11:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,590 sqft
  • Baths : 3 full , 1 half
Listing Agent

Lily Moore Realty

Listing Agent's Description

Beautiful, spacious home situated on quiet street backing up to GREENBELT! Charming front porch & 3 CAR GARAGE! Open entry with soaring ceilings! Formal living & dining rooms! Beautiful laminate wood floors throughout 1st floor! Kitchen offers breakfast bar, granite counters, under-cabinet lighting & breakfast room with window seat! Spacious master suite with jetted tub & double vanities! Upstairs offers a huge game room plus MEDIA ROOM with tiered floors! Also up are 3 generous bedrooms plus a STUDY & 2 full baths! NEW ROOF IN 2020! Large backyard! Access to walking trails at end of cul de sac! Low Roanoke taxes!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Briarwyck

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k464k

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

Neighborhood: Briarwyck

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262946

* 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
Roanoke Elementary School Primary Regular 731 45 6
Medlin Middle School Middle Regular 1,078 65 8
Byron Nelson High School High Unknown NA

Roanoke Elementary School

  • Education Level: Primary
  • # of students: 731
  • # of teachers: 45
6
GreatSchools Rating

Medlin Middle School

  • Education Level: Middle
  • # of students: 1,078
  • # of teachers: 65
8
GreatSchools Rating

Byron Nelson High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,799$3,421$3,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,110
EXPENSES Loan Payment -$1,650
Property Tax -$828
Property Insurance -$235
HOA -$45
Property Management Fees -$99
CASH FLOW
$254

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.

$475,000

PROJECTED PRICE

$3,110

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.2%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$43,726

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,110

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $3,168

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,850
1$2,8502$2,8503$3,1104$3,1955$3,500
$3,500
RENT COMPS ANALYSIS
  • 1217 Newcastle Street Roanoke, TX 3
    • 4 beds 4 baths ∙ 3,590 Sqft ∙ Built 2010 4 beds 4 baths ∙ 3,590 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $3,110
    • $0.87
    •  
  • 1366 Osborne Court Roanoke, TX 1
    • 5 beds 4 baths ∙ 3,303 Sqft ∙ Built 2015 5 beds 4 baths ∙ 3,303 Sqft ∙ Built 2015
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.86
    •  
  • 432 Brighton Street Roanoke, TX 2
    • 4 beds 4 baths ∙ 3,500 Sqft ∙ Built 2009 4 beds 4 baths ∙ 3,500 Sqft ∙ Built 2009
    LEASED 02/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.81
    •  
  • 927 Bentley Drive Roanoke, TX 4
    • 4 beds 4 baths ∙ 3,645 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,645 Sqft ∙ Built 2016
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $0.88
    •  
  • 362 Falstaff Drive Roanoke, TX 5
    • 4 beds 4 baths ∙ 3,562 Sqft ∙ Built 2011 4 beds 4 baths ∙ 3,562 Sqft ∙ Built 2011
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.98
    •  
PROPERTY LISTING DETAILS
Lily Moore
Lily Moore Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14528720
Last Updated: 03/26/2021
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