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1221 Prairie Wind Boulevard Stephenville, TX 76401

3 Beds 3 Baths 2,160 sqft Built 1987

$247,900

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $114.77
  • 3 Days on Market
  • MLS # : 14512115
  • Updated Date : 02/05/2021 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,160 sqft
  • Baths : 2 full , 1 half
Listing Agent

Larinda Ray Realty Team

Listing Agent's Description

THE FEEL OF COUNTRY COMES WITH THIS 3 bedroom 2.5 bath brick home located in Golf Country Estates. Beautiful back yard with lots of trees on an oversized, side entry garage, large formal dining room, cozy den with WBFP, and more! Vacant and ready!

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: 76401

ZipNIR Market*CityMarket2010Year2005 Q3201960k70k80k90k100k110k120k130k140kPrice in $57k146k

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

Zip Code: 76401

No Data Available.

* 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
Hook Elementary School Primary Regular 570 37 6
Stephenville High School High Regular 971 73 6
Central Elementary School Primary Regular 393 23 NA

Hook Elementary School

  • Education Level: Primary
  • # of students: 570
  • # of teachers: 37
6
GreatSchools Rating

Stephenville High School

  • Education Level: High
  • # of students: 971
  • # of teachers: 73
6
GreatSchools Rating

Central Elementary School

  • Education Level: Primary
  • # of students: 393
  • # of teachers: 23
NA
GreatSchools Rating
 

$223,110$272,690$247,900

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$861
Property Tax -$470
Property Insurance -$147
Property Management Fees -$99
CASH FLOW
-$47

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.

$247,900

PROJECTED PRICE

$1,530

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 3.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,444

INVESTMENT

$71,444

Down Payment
$61,975
Rehab Estimate
$5,750
Closing Costs
$3,719

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$861

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,975
Loan Amount $185,925
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$4,316

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,670

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5003$1,5304$1,650
$1,650
RENT COMPS ANALYSIS
  • 1221 Prairie Wind Boulevard Stephenville, TX 3
    • 3 beds 3 baths ∙ 2,160 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,160 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.71
    •  
  • 2410 Holly Street Stephenville, TX 1
    • 4 beds 2 baths ∙ 1,862 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,862 Sqft ∙ Built 1973
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.81
    •  
  • 105 Ben Hogan Drive Stephenville, TX 2
    • 3 beds 2 baths ∙ 1,906 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,906 Sqft ∙ Built 1981
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.79
    •  
  • 653 Maplewood Drive Stephenville, TX 4
    • 3 beds 4 baths ∙ 2,277 Sqft ∙ Built 1997 3 beds 4 baths ∙ 2,277 Sqft ∙ Built 1997
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.72
    •  
PROPERTY LISTING DETAILS
Larinda Ray
Larinda Ray Realty Team
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14512115
Last Updated: 02/05/2021
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