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1221 Sagewood Justin, TX 76247

4 Beds 4 Baths 3,192 sqft Built 2020

INVESTimate

$366,383

List Price

$1,850

$1,665 - $2,035

Rent Est.

$390,967  ( +6.71%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $114.78
  • 5 Days on Market
  • MLS # : 14419112
  • Updated Date : 08/22/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,192 sqft
  • Baths : 3 full , 1 half
Listing Agent

Imp Realty

Listing Agent's Description

MLS# 14419112 - Built by Impression Homes - November completion! ~ Impression Homes in Timberbrook model plan, Durham II is wide wide open! With a large owners suite plus another large bedroom with walk in closet and its own en suite, this 4 bedrooms, 3.5 bathroom home is a dream, complete with game room! This home is light and bright with lots of windows and large open living spaces. Perfect for gatherings!

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Ridgeview Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260kPrice in $122k271k

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

Neighborhood: Ridgeview Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10532134

* 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
Justin Elementary School Primary Regular 506 33 5
Gene Pike Middle School Middle Regular 743 53 7
Northwest High School High Regular 2,793 170 6

Justin Elementary School

  • Education Level: Primary
  • # of students: 506
  • # of teachers: 33
5
GreatSchools Rating

Gene Pike Middle School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 53
7
GreatSchools Rating

Northwest High School

  • Education Level: High
  • # of students: 2,793
  • # of teachers: 170
6
GreatSchools Rating
 

$329,745$403,021$366,383

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,352
Property Tax -$763
Property Insurance -$212
HOA -$67
Property Management Fees -$99
CASH FLOW
-$643

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.

$366,383

PROJECTED PRICE

$1,850

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.71%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,091

INVESTMENT

$99,091

Down Payment
$91,596
Rehab Estimate
$2,000
Closing Costs
$5,496

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,352

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,596
Loan Amount $274,787
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$10

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.58

    LIST RENT PER SQFT
  • $1,883

    COMP ESTIMATED VALUE
  • $0.59

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,995
$1,995
RENT COMPS ANALYSIS
  • 1221 Sagewood Justin, TX 1
    • 4 beds 4 baths ∙ 3,192 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,192 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.58
    •  
  • 118 Reatta Drive Justin, TX 2
    • 5 beds 4 baths ∙ 3,364 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,364 Sqft ∙ Built 2001
    property image
    LEASED 06/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.59
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Imp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419112
Last Updated: 08/22/2020
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