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1226 Ballycastle Lane Corinth, TX 76210

3 Beds 3 Baths 2,465 sqft Built 2010

$499,900

List Price

$2,380

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $202.80
  • 5 Days on Market
  • MLS # : 14517346
  • Updated Date : 02/25/2021 at 16:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,465 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

BEST & FINAL BY SUNDAY 2-28 @ NOON**UNMATCHED PARADISE PERFECT FOR ENTERTAINING ON NEARLY QUARTER ACRE GOLF COURSE LOT! This custom single-story offers wood & stained concrete floors, fresh paint & plantation shutters. The stylish kitchen showcase granite counters, stainless steel appliances & a breakfast nook with built-in bench seating. Pamper yourself in the luxury owner's suite boasting upgraded vanities & walk-in shower with dual heads, or make great use of the exercise room. The stunning backyard features a saltwater pool & spa, covered patio, mature trees & gorgeous views of Oakmont's signature 13th hole, plus an outdoor living center with a built-in grill, griddle, mini fridge & wood-burning pizza oven

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: Larkspur at Oakmont

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k400k

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

Neighborhood: Larkspur at Oakmont

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262714

* 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
Hawk Elementary School Primary Regular 726 46 8
Crownover Middle School Middle Regular 938 59 8
John H. Guyer High School High Regular 2,395 162 8

Hawk Elementary School

  • Education Level: Primary
  • # of students: 726
  • # of teachers: 46
8
GreatSchools Rating

Crownover Middle School

  • Education Level: Middle
  • # of students: 938
  • # of teachers: 59
8
GreatSchools Rating

John H. Guyer High School

  • Education Level: High
  • # of students: 2,395
  • # of teachers: 162
8
GreatSchools Rating
 

$449,910$549,890$499,900

PURCHASE PRICE

$2,142$2,618$2,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,380
EXPENSES Loan Payment -$1,736
Property Tax -$1,010
Property Insurance -$170
HOA -$99
Property Management Fees -$99
CASH FLOW
-$734

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.

$499,900

PROJECTED PRICE

$2,380

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.8%
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-$16k-$14k-$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$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,224

INVESTMENT

$138,224

Down Payment
$124,975
Rehab Estimate
$5,750
Closing Costs
$7,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,736

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,975
Loan Amount $374,925
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$12

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,380

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,145

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0003$2,1504$2,1505$2,380
$2,380
RENT COMPS ANALYSIS
  • 1226 Ballycastle Lane Corinth, TX 5
    • 3 beds 3 baths ∙ 2,465 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,465 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $0.97
    •  
  • 3426 Clydesdale Drive Denton, TX 1
    • 3 beds 3 baths ∙ 2,318 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,318 Sqft ∙ Built 2003
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.86
    •  
  • 1803 Andover Lane Corinth, TX 2
    • 3 beds 2 baths ∙ 2,340 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,340 Sqft ∙ Built 1999
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.85
    •  
  • 1724 Tealwood Lane Corinth, TX 3
    • 4 beds 2 baths ∙ 2,401 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,401 Sqft ∙ Built 1999
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.90
    •  
  • 1705 Norwood Court Corinth, TX 4
    • 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 1999
    LEASED 12/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.87
    •  
PROPERTY LISTING DETAILS
Russell Rhodes
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14517346
Last Updated: 02/25/2021
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