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1305 Shumard Drive Princeton, TX 75407

4 Beds 2 Baths 2,112 sqft Built 2015

$248,900

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $117.85
  • 3 Days on Market
  • MLS # : 14466705
  • Updated Date : 11/06/2020 at 21:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,112 sqft
  • Baths : 2 full
Listing Agent

Monument Realty

Listing Agent's Description

This Home was a Former Model Home! It's Built for Entertaining with an Oversized Living Room, Extended Vaulted Ceilings and Open Floor Plan and with all LED Lighting! 4 Bedrooms and 2 Full Bathrooms, Granite Counter Tops, Neutral Colors, LED Lighting Throughout to Save on Utilities, and Walking Trails with Playscape Nearby! You Will Love to Have Family Over and Holiday Parties in this Home! Come and Take it off the Market!

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

Zip Code: 75407

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $114k243k

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

Zip Code: 75407

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8671734

* 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
Lacy Elementary School Primary Regular 695 47 6
Clark Junior High School Middle Regular 540 33 8
Princeton High School High Regular 1,048 67 6

Lacy Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 47
6
GreatSchools Rating

Clark Junior High School

  • Education Level: Middle
  • # of students: 540
  • # of teachers: 33
8
GreatSchools Rating

Princeton High School

  • Education Level: High
  • # of students: 1,048
  • # of teachers: 67
6
GreatSchools Rating
 

$224,010$273,790$248,900

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$918
Property Tax -$519
Property Insurance -$149
HOA -$29
Property Management Fees -$99
CASH FLOW
-$164

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.

$248,900

PROJECTED PRICE

$1,550

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
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$71,709

INVESTMENT

$71,709

Down Payment
$62,225
Rehab Estimate
$5,750
Closing Costs
$3,734

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$918

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,225
Loan Amount $186,675
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$2,805

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,695

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,6954$1,7005$1,750
$1,750
RENT COMPS ANALYSIS
  • 1305 Shumard Drive Princeton, TX 1
    • 4 beds 2 baths ∙ 2,112 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,112 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.73
    •  
  • 334 Magnolia Drive Princeton, TX 2
    • 3 beds 3 baths ∙ 2,047 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,047 Sqft ∙ Built 2017
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.78
    •  
  • 1220 Arizona Princeton, TX 3
    • 4 beds 3 baths ∙ 2,169 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,169 Sqft ∙ Built 2017
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.78
    •  
  • 1226 Pine Forest Drive Princeton, TX 4
    • 4 beds 2 baths ∙ 2,016 Sqft ∙ Built 2011 4 beds 2 baths ∙ 2,016 Sqft ∙ Built 2011
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.84
    •  
  • 1211 Arizona Princeton, TX 5
    • 4 beds 3 baths ∙ 2,169 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,169 Sqft ∙ Built 2017
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.81
    •  
PROPERTY LISTING DETAILS
Jonathan King
Monument Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466705
Last Updated: 11/06/2020
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