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131 Althea Drive Waxahachie, TX 75165

4 Beds 3 Baths 2,497 sqft Built 2016

INVESTimate

$279,900

List Price

$1,670

$1,503 - $1,837

Rent Est.

$305,231  ( +9.05%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $112.09
  • 2 Days on Market
  • MLS # : 14420596
  • Updated Date : 08/25/2020 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,497 sqft
  • Baths : 2 full , 1 half
Listing Agent

Holmquist & Associates Realty

Listing Agent's Description

WOW! Super Spacious Flexible OPEN FLOOR PLAN*STUDY or 4th Bedroom off the Entry*Formal Living & Dining with Beautiful WOOD Like Porcelain Tile Floors would be the perfect spot to entertain your guest or use it as a Second Living Space*HUGE Kitchen with GRANITE Counter tops & tons of Cabinets*Cast Stone Fireplace in the Living Room to Enjoy*Large Private Master Bedroom located at the back of the home with a Luxurious Master Bath*Secondary Split Bedrooms are located on the other side of the home...perfect for the growing family*Bonus Room or Game Room located Upstairs with its own Half Bath & Walk In Closet*Large Backyard with a Covered Patio*Nice Community Pool down the road*PERFECT Location close to Everything!

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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: 75165

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $112k243k

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

Zip Code: 75165

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9841734

* 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
Shackelford Elementary School Primary Regular 594 36 7
Howard Junior High School Middle Regular 857 62 6
Waxahachie High School High Regular 1,985 138 4

Shackelford Elementary School

  • Education Level: Primary
  • # of students: 594
  • # of teachers: 36
7
GreatSchools Rating

Howard Junior High School

  • Education Level: Middle
  • # of students: 857
  • # of teachers: 62
6
GreatSchools Rating

Waxahachie High School

  • Education Level: High
  • # of students: 1,985
  • # of teachers: 138
4
GreatSchools Rating
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,033
Property Tax -$607
Property Insurance -$172
HOA -$35
Property Management Fees -$99
CASH FLOW
-$276

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.

$279,900

PROJECTED PRICE

$1,670

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.05%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$741

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,985

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,670
1$1,6702$1,6953$1,7504$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 131 Althea Drive Waxahachie, TX 1
    • 4 beds 3 baths ∙ 2,497 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,497 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.67
    •  
  • 220 Country Meadows Boulevard Waxahachie, TX 2
    • 3 beds 3 baths ∙ 2,267 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,267 Sqft ∙ Built 2008
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.75
    •  
  • 1581 Wildflower Drive Waxahachie, TX 3
    • 4 beds 3 baths ∙ 2,312 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,312 Sqft ∙ Built 2002
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.76
    •  
  • 106 Wellington Court Waxahachie, TX 4
    • 4 beds 3 baths ∙ 2,148 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,148 Sqft ∙ Built 2002
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.84
    •  
  • 1659 Wildflower Drive Waxahachie, TX 5
    • 3 beds 2 baths ∙ 2,218 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,218 Sqft ∙ Built 2006
    LEASED 04/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.83
    •  
PROPERTY LISTING DETAILS
Krissy Mireles
Holmquist & Associates Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14420596
Last Updated: 08/25/2020
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