Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

124 Ridge Top Drive Decatur, TX 76234

3 Beds 2 Baths 1,221 sqft Built 2005

$259,000

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $212.12
  • 4 Days on Market
  • MLS # : 14476553
  • Updated Date : 12/03/2020 at 08:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,221 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty, Llc

Listing Agent's Description

Beautiful and immaculate best describe this GEM of a home. Home is ready to move into features open living, dining, kitchen area. Kitchen features built ins and granite countertops and bar area that you can sit at. There 3 bedrooms, 2 baths with plenty of closet space. Home is meticulous landscaped front & back with pea gravel driveway. RV parking next to 16x16 workshop with electricity. All of this sits on 1 acre.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Zip Code: 76234

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $96k243k

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

Zip Code: 76234

ZipNIR Market*Market2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* 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
Decatur High School High Regular 897 59 5

Decatur High School

  • Education Level: High
  • # of students: 897
  • # of teachers: 59
5
GreatSchools Rating
 

$233,100$284,900$259,000

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$956
Property Tax -$371
Property Insurance -$98
Property Management Fees -$99
CASH FLOW
-$223

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$259,000

PROJECTED PRICE

$1,300

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,385

INVESTMENT

$74,385

Down Payment
$64,750
Rehab Estimate
$5,750
Closing Costs
$3,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$956

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,750
Loan Amount $194,250
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$2,283

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,477

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,550
$1,550
RENT COMPS ANALYSIS
  • 124 Ridge Top Drive Decatur, TX 1
    • 3 beds 2 baths ∙ 1,221 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,221 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.06
    •  
  • 205 Harvey Lane Decatur, TX 2
    • 3 beds 2 baths ∙ 1,283 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,283 Sqft ∙ Built 2006
    LEASED 08/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.21
    •  
PROPERTY LISTING DETAILS
Teresa Reed
Fathom Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14476553
Last Updated: 12/03/2020
BESbswy