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1305 Stone Mountain Parkway Savannah, TX 76227

3 Beds 2 Baths 2,427 sqft Built 2004

$324,990

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $133.91
  • 3 Days on Market
  • MLS # : 14511307
  • Updated Date : 02/06/2021 at 11:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,427 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

This Craftsman style home has tons of curb appeal that includes oversized Brick Laid Covered Front Porch and established landscape. Stunning Home on a Green Belt Lot. Features 3 Beds, 2 Baths, Study, Gameroom-Flex Area. Welcoming open floor plan has Luxury Vinyl Plank flooring. Spacious Living Rm with Gas Fireplace, Gas Logs & decorative Mantle. Natural light filled Kitchen with freshly painted cabinets, large farm sink, Granite countertops, Gas Range, SS Appliances, & Breakfast Area. Spacious Master Suite has a Walk In Shower and large closet. Oversized Secondary Bedrooms with walk in closets. Spectacular Screened In Sun Room leads to the Private backyard with new sod perfect for Summer Entertaining!

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
Billy Ryan High School High Regular 2,409 170 5

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

Billy Ryan High School

  • Education Level: High
  • # of students: 2,409
  • # of teachers: 170
5
GreatSchools Rating
 

$292,491$357,489$324,990

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,129
Property Tax -$740
Property Insurance -$167
HOA -$71
Property Management Fees -$99
CASH FLOW
-$316

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.

$324,990

PROJECTED PRICE

$1,890

PROJECTED RENT

0.58%

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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,872

INVESTMENT

$91,872

Down Payment
$81,248
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,248
Loan Amount $243,743
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$416

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,948

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,890
1$1,8902$1,9003$1,9504$1,9955$1,995
$1,995
RENT COMPS ANALYSIS
  • 1305 Stone Mountain Parkway Savannah, TX 1
    • 3 beds 2 baths ∙ 2,427 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,427 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.78
    •  
  • 1632 Spanish Moss Way Savannah, TX 2
    • 4 beds 3 baths ∙ 2,545 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,545 Sqft ∙ Built 2004
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.75
    •  
  • 930 English Ivy Drive Prosper, TX 3
    • 4 beds 3 baths ∙ 2,281 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,281 Sqft ∙ Built 2014
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.85
    •  
  • 1821 Forsythe Drive Savannah, TX 4
    • 4 beds 3 baths ∙ 2,420 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,420 Sqft ∙ Built 2004
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.82
    •  
  • 1733 Mercer Way Savannah, TX 5
    • 4 beds 3 baths ∙ 2,530 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,530 Sqft ∙ Built 2004
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.79
    •  
PROPERTY LISTING DETAILS
Charla Atwell
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14511307
Last Updated: 02/06/2021
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