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1308 Ranger Road Murphy, TX 75094

4 Beds 3 Baths 2,940 sqft Built 2004

$360,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $122.45
  • 3 Days on Market
  • MLS # : 14466398
  • Updated Date : 11/06/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,940 sqft
  • Baths : 3 full
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

1.5 STORY ON ALMOST .5 ACRE LOT IN BEAUTIFUL MURPHY, TX! This 4 bedroom plan offers 3 full baths, study and only room upstairs is a large game room. The kitchen features walk-in pantry, island and gas cooktop and overlooks the spacious living area with beautiful fireplace and views of the backyard. Private backyard is great for entertaining. The Ranch neighborhood boasts over-sized lots with front approach, side-entry driveways and no alleys! Murphy is ranked in the top 10 safest cities to live in Texas! Located within the A+ rated Wylie ISD.

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: The Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k394k

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

Neighborhood: The Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262392

* 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
Tibbals Elementary School Primary Regular 613 37 10
Raymond B. Cooper Junior High School Middle Regular 748 44 10
Raymond B. Cooper Junior High School High Regular 748 44 10

Tibbals Elementary School

  • Education Level: Primary
  • # of students: 613
  • # of teachers: 37
10
GreatSchools Rating

Raymond B. Cooper Junior High School

  • Education Level: Middle
  • # of students: 748
  • # of teachers: 44
10
GreatSchools Rating

Raymond B. Cooper Junior High School

  • Education Level: High
  • # of students: 748
  • # of teachers: 44
10
GreatSchools Rating
 

$324,000$396,000$360,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,328
Property Tax -$627
Property Insurance -$143
HOA -$31
Property Management Fees -$99
CASH FLOW
-$327

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.

$360,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$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$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$1,948

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,001

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9003$1,9004$1,9005$2,000
$2,000
RENT COMPS ANALYSIS
  • 1308 Ranger Road Murphy, TX 4
    • 4 beds 3 baths ∙ 2,001 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,001 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.95
    •  
  • 509 Comanche Trail Murphy, TX 1
    • 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 2002
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.00
    •  
  • 355 Montana Trail Murphy, TX 2
    • 3 beds 2 baths ∙ 1,899 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,899 Sqft ∙ Built 2005
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.00
    •  
  • 1305 Rodeo Drive Murphy, TX 3
    • 3 beds 2 baths ∙ 1,899 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,899 Sqft ∙ Built 2004
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.00
    •  
  • 1211 Rodeo Drive Murphy, TX 5
    • 3 beds 2 baths ∙ 1,992 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,992 Sqft ∙ Built 2003
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.00
    •  
PROPERTY LISTING DETAILS
Stacie Gooch
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466398
Last Updated: 11/06/2020
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