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123 Clear Creek Terrell, TX 75160

3 Beds 2 Baths 1,263 sqft Built 2020

$216,954

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $171.78
  • 2 Days on Market
  • MLS # : 14528104
  • Updated Date : 03/06/2021 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,263 sqft
  • Baths : 2 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14528104 - Built by History Maker Homes - April completion! ~ Brand New HistoryMaker Home with a Covered Front Porch. 3 Bedrooms, 2 Baths and 2 Car Garage with Garage Door Openers. Open Kitchen with Bartop Breakfast area and Recessed Can Lighting, Smooth top Range Oven, Built-In Microwave and Dishwasher. Master Bath with Dual Vanity Sinks and Walk-In Closet. Fully Sodded Yard with Front and Side yard Sprinkler System and an Oversized Backyard Patio! SMART FEATURES INCLUDED! WiFi everywhere guarantee!

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

Neighborhood: Creekside Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Creekside Estates

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
J.w. Long Elementary School Primary Regular 624 37 4
Herman Furlough Jr. Middle School Middle Regular 593 41 4
Terrell High School High Regular 1,087 79 3

J.w. Long Elementary School

  • Education Level: Primary
  • # of students: 624
  • # of teachers: 37
4
GreatSchools Rating

Herman Furlough Jr. Middle School

  • Education Level: Middle
  • # of students: 593
  • # of teachers: 41
4
GreatSchools Rating

Terrell High School

  • Education Level: High
  • # of students: 1,087
  • # of teachers: 79
3
GreatSchools Rating
 

$195,259$238,649$216,954

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$754
Property Tax -$559
Property Insurance -$100
HOA -$26
Property Management Fees -$99
CASH FLOW
-$197

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$216,954

PROJECTED PRICE

$1,340

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 3.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k-$4.0k-$3.0k-$2.0k-$1.0k$0.0$1.0k$2.0k$3.0k

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$59,493

INVESTMENT

$59,493

Down Payment
$54,239
Rehab Estimate
$2,000
Closing Costs
$3,254

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$754

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $54,239
Loan Amount $162,716
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$393

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,339

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,340
1$1,3402$1,3503$1,4154$1,4755$1,550
$1,550
RENT COMPS ANALYSIS
  • 123 Clear Creek Terrell, TX 1
    • 3 beds 2 baths ∙ 1,263 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,263 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $1.06
    •  
  • 1803 Ridgecrest Drive Terrell, TX 2
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 2006
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.04
    •  
  • 1827 Willowbrook Drive Terrell, TX 3
    • 3 beds 2 baths ∙ 1,336 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,336 Sqft ∙ Built 2014
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,415
    • $1.06
    •  
  • 242 Willow Creek Lane Terrell, TX 4
    • 3 beds 2 baths ∙ 1,345 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,345 Sqft ∙ Built 2016
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.10
    •  
  • 104 Shady Creek Lane Terrell, TX 5
    • 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 2006
    LEASED 02/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.04
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14528104
Last Updated: 03/06/2021
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