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124 Clear Creek Lane Terrell, TX 75160

3 Beds 2 Baths 1,459 sqft Built 2021

$224,679

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $154.00
  • 3 Days on Market
  • MLS # : 14509165
  • Updated Date : 01/29/2021 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,459 sqft
  • Baths : 2 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14509165 - Built by History Maker Homes - April completion! ~ Brand New History Maker Home with a Covered Front Porch. 3 Bedrooms, 2 Baths and 2 Car Garage with Smart Garage Door Openers. Kitchen Bar top Breakfast area and Recessed Can Lighting, Stainless Steel Smooth top Range Oven, Built-In Microwave and Dishwasher. Oversized Shower in Master Bath with Dual Vanity Sinks and Walk-In Closet. Fully Sodded Yard with Front and Side yard Sprinkler System and an Oversized Patio. Smart features include thermostat and electronic deadbolt lock.

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: 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
 

$202,211$247,147$224,679

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 -$780
Property Tax -$579
Property Insurance -$112
HOA -$26
Property Management Fees -$99
CASH FLOW
-$115

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.

$224,679

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) 6.2%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,540

INVESTMENT

$61,540

Down Payment
$56,170
Rehab Estimate
$2,000
Closing Costs
$3,370

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$780

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,170
Loan Amount $168,509
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$2,190

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
  • $1.01

    LIST RENT PER SQFT
  • $1,481

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3503$1,4754$1,4805$1,525
$1,525
RENT COMPS ANALYSIS
  • 124 Clear Creek Lane Terrell, TX 4
    • 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $1.01
    •  
  • 1811 Ridgecrest Drive Terrell, TX 1
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 2006
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.96
    •  
  • 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
    •  
  • 242 Willow Creek Lane Terrell, TX 3
    • 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
    •  
  • 239 Willow Creek Lane Terrell, TX 5
    • 3 beds 2 baths ∙ 1,589 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,589 Sqft ∙ Built 2005
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.96
    •  
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 #: 14509165
Last Updated: 01/29/2021
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