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1224 N Creek Drive Saginaw, TX 76179

3 Beds 2 Baths 1,553 sqft Built 1983

$215,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $138.44
  • 3 Days on Market
  • MLS # : 14496380
  • Updated Date : 01/08/2021 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,553 sqft
  • Baths : 2 full
Listing Agent

Stepstone Realty, Llc

Listing Agent's Description

Beautifully updated 3 Bedroom single story home with complete renovation of the Kitchen, Master Bath and Hall Bath. Your new home has tons of designer touches from the custom interior paint and accent walls, the oversized ceiling fan in the Family Room and the HGTV inspired Master Bath with separate vanities and walk-in shower. The updated Kitchen includes new soft-close white shaker cabinets, stainless appliance package including a new refrigerator, granite countertops and custom glass-tile backsplash. The entire home was updated in flooring too with wood-look tile and carpet. You’ll have extra closets and a full-size separate laundry room too. The backyard has a newly installed wood privacy fence.

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

Neighborhood: Saginaw North

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Saginaw North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Bryson Elementary School Primary Regular 473 34 5
Wayside Middle School Middle Regular 943 52 6
Boswell High School High Regular 1,605 106 7

Bryson Elementary School

  • Education Level: Primary
  • # of students: 473
  • # of teachers: 34
5
GreatSchools Rating

Wayside Middle School

  • Education Level: Middle
  • # of students: 943
  • # of teachers: 52
6
GreatSchools Rating

Boswell High School

  • Education Level: High
  • # of students: 1,605
  • # of teachers: 106
7
GreatSchools Rating
 

$193,500$236,500$215,000

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 -$747
Property Tax -$523
Property Insurance -$117
Property Management Fees -$99
CASH FLOW
$44

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.

$215,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$11,307

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
  • $0.99

    LIST RENT PER SQFT
  • $1,530

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,4953$1,4994$1,5255$1,530
$1,530
RENT COMPS ANALYSIS
  • 1224 N Creek Drive Saginaw, TX 5
    • 3 beds 2 baths ∙ 1,553 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,553 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.99
    •  
  • 1317 N Knowles Drive Saginaw, TX 1
    • 3 beds 2 baths ∙ 1,509 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,509 Sqft ∙ Built 1980
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.99
    •  
  • 1308 N Creek Drive Saginaw, TX 2
    • 3 beds 2 baths ∙ 1,553 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,553 Sqft ∙ Built 1983
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.96
    •  
  • 404 Greenway Drive Saginaw, TX 3
    • 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1982
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.98
    •  
  • 537 Greenway Drive Saginaw, TX 4
    • 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1982
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.01
    •  
PROPERTY LISTING DETAILS
Andy Cromer
Stepstone Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14496380
Last Updated: 01/08/2021
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