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124 Adams Drive Crowley, TX 76036

3 Beds 2 Baths 1,625 sqft Built 2002

$224,900

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $138.40
  • 3 Days on Market
  • MLS # : 14484833
  • Updated Date : 12/12/2020 at 16:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,625 sqft
  • Baths : 2 full
Listing Agent

Century 21 A-one Realty

Listing Agent's Description

Well maintained home in Mesa Vista Addition. This is a three bedroom home plus a study. New roof in November 2020, new range with induction cooktop and new microwave in the summer of 2020. The HVAC was replaced 3 years ago with a high efficiency, 23 SEER, system that has 7 years left on a transferable warranty. Split bedroom floor plan. Home has a large covered back porch that leads to a massive, fenced backyard. Neighborhood has two playgrounds within walking distance. Middle School will be the new Richard Allie middle school in fall of 2020. Crowley 9th grade campus as well. Photos coming soon.

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: Mesa Vista

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Mesa Vista

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
S.h. Crowley Intermediate School Primary Regular 456 26 4
S.h. Crowley Intermediate School Middle Regular 456 26 4
Crowley High School High Regular 2,033 150 4

S.h. Crowley Intermediate School

  • Education Level: Primary
  • # of students: 456
  • # of teachers: 26
4
GreatSchools Rating

S.h. Crowley Intermediate School

  • Education Level: Middle
  • # of students: 456
  • # of teachers: 26
4
GreatSchools Rating

Crowley High School

  • Education Level: High
  • # of students: 2,033
  • # of teachers: 150
4
GreatSchools Rating
 

$202,410$247,390$224,900

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$830
Property Tax -$557
Property Insurance -$121
Property Management Fees -$99
CASH FLOW
-$127

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.

$224,900

PROJECTED PRICE

$1,480

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.8%
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-$4.0k-$2.0k$0.0$2.0k$4.0k

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$65,349

INVESTMENT

$65,349

Down Payment
$56,225
Rehab Estimate
$5,750
Closing Costs
$3,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,225
Loan Amount $168,675
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$2,878

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,479

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3753$1,4804$1,5495$1,595
$1,595
RENT COMPS ANALYSIS
  • 124 Adams Drive Crowley, TX 3
    • 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.91
    •  
  • 928 Crowder Drive Crowley, TX 1
    • 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 2005
    property image
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.95
    •  
  • 325 Daisy Lane Burleson, TX 2
    • 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 2004
    property image
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.86
    •  
  • 129 Heritage Drive Crowley, TX 4
    • 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 2002
    property image
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $0.91
    •  
  • 221 Rock Hill Drive Crowley, TX 5
    • 3 beds 2 baths ∙ 1,727 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,727 Sqft ∙ Built 2003
    property image
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.92
    •  
PROPERTY LISTING DETAILS
Joan Cunningham
Century 21 A-one Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14484833
Last Updated: 12/12/2020
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