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1301 Barrier Island Drive Savannah, TX 76227

4 Beds 3 Baths 2,946 sqft Built 2016

$499,000

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

February 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $169.38
  • 1 Days on Market
  • MLS # : 14512606
  • Updated Date : 02/06/2021 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,946 sqft
  • Baths : 3 full
Listing Agent

Vivo Realty

Listing Agent's Description

Absolutely Stunning Home and Very Well Maintained!!! Home Features 4 Bdrms, 3 Baths, 2 Car Gar + Formal Dining, Office & Huge Flex Rm Perfect for 2nd Living or Game Room. Upgrades Include: Outlets in Eves, Granite in Kitchen & Master, Extensive Engineered Hardwoods in the living and Kitchen area. Open Entry Way Leads to a Spacious living area & Natural Light Filled Formal Dining. Family Room Boasts Vaulted Ceiling & Gas Fireplace. Entertain Easily in the Gourmet Kitchen with Stainless Steel Appliances, Gas Cooktop & Large Granite Island. Master Suite with Walk In Shower, His-Her Sinks & Custom Closet.

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: Savannah

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Savannah

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Savannah Elementary School Primary Regular 640 42 6
Navo Middle School Middle Regular 1,077 65 7
Denton High School High Regular 2,166 140 6

Savannah Elementary School

  • Education Level: Primary
  • # of students: 640
  • # of teachers: 42
6
GreatSchools Rating

Navo Middle School

  • Education Level: Middle
  • # of students: 1,077
  • # of teachers: 65
7
GreatSchools Rating

Denton High School

  • Education Level: High
  • # of students: 2,166
  • # of teachers: 140
6
GreatSchools Rating
 

$449,100$548,900$499,000

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$1,733
Property Tax -$1,135
Property Insurance -$197
HOA -$71
Property Management Fees -$99
CASH FLOW
-$966

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.

$499,000

PROJECTED PRICE

$2,270

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.5%
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-$18k-$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$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,733

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$44

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,291

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,2703$2,2954$2,5505$2,575
$2,575
RENT COMPS ANALYSIS
  • 1301 Barrier Island Drive Savannah, TX 2
    • 4 beds 3 baths ∙ 2,946 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,946 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $0.77
    •  
  • 1613 Sycamore Street Aubrey, TX 1
    • 4 beds 3 baths ∙ 3,026 Sqft ∙ Built 2009 4 beds 3 baths ∙ 3,026 Sqft ∙ Built 2009
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.69
    •  
  • 705 Lighthouse Lane Savannah, TX 3
    • 5 beds 3 baths ∙ 3,065 Sqft ∙ Built 2013 5 beds 3 baths ∙ 3,065 Sqft ∙ Built 2013
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.75
    •  
  • 1044 Marietta Lane Aubrey, TX 4
    • 5 beds 3 baths ∙ 3,062 Sqft ∙ Built 2015 5 beds 3 baths ∙ 3,062 Sqft ∙ Built 2015
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.83
    •  
  • 1001 Marietta Lane Aubrey, TX 5
    • 4 beds 3 baths ∙ 3,062 Sqft ∙ Built 2014 4 beds 3 baths ∙ 3,062 Sqft ∙ Built 2014
    LEASED 10/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,575
    • $0.84
    •  
PROPERTY LISTING DETAILS
Babar Hussain
Vivo Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14512606
Last Updated: 02/06/2021
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