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131 Briar Grove Drive Princeton, TX 75407

3 Beds 2 Baths 1,687 sqft Built 2011

$240,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $142.26
  • 1 Days on Market
  • MLS # : 14527935
  • Updated Date : 03/13/2021 at 13:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,687 sqft
  • Baths : 2 full
Listing Agent

Simply Texas Real Estate, Llc

Listing Agent's Description

Beautifully landscaped single story in the Forest Grove subdivision in Princeton is ready to be your new home! Covered front porch and open patio, either one are the perfect place to sip a cup of coffee to start your day. Open floorplan. Kitchen with breakfast bar, black appliances and pantry. Abundant natural light. Master bath features dual sinks, separate shower and a garden tub. Easy access to major roads.

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

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
Smith Elementary School Primary Regular NA
Clark Junior High School Middle Regular 540 33 8
Princeton High School High Regular 1,048 67 6

Smith Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
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
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$834
Property Tax -$500
Property Insurance -$125
HOA -$28
Property Management Fees -$99
CASH FLOW
$15

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.

$240,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.67%

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

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$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$11,345

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,653

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,6004$1,6255$1,800
$1,800
RENT COMPS ANALYSIS
  • 131 Briar Grove Drive Princeton, TX 3
    • 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.95
    •  
  • 4036 Princeton Circle Princeton, TX 1
    • 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 2003
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.98
    •  
  • 2116 Shady Glen Trail Princeton, TX 2
    • 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 2015
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.97
    •  
  • 179 Tanglewood Draw Princeton, TX 4
    • 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 2010
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.97
    •  
  • 2029 Shady Glen Trail Princeton, TX 5
    • 4 beds 2 baths ∙ 1,797 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,797 Sqft ∙ Built 2015
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.00
    •  
PROPERTY LISTING DETAILS
Kristen Robinson
Simply Texas Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14527935
Last Updated: 03/13/2021
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