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131 Independence Avenue Venus, TX 76084

3 Beds 2 Baths 1,677 sqft Built 2007

$199,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $118.66
  • 3 Days on Market
  • MLS # : 14489660
  • Updated Date : 03/06/2021 at 10:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,677 sqft
  • Baths : 2 full
Listing Agent

All Cities Realty

Listing Agent's Description

Adorable 3 Bedroom, 2 Bathroom home nestled in the quiet community of Patriot Estates. This property features a great floor plan with Private Master suite Split from two guest bedroom and guest bathroom. Open living, dining and kitchen concept makes the perfect space for entertaining. New Carpet in bedrooms and main living area installed March 2019, New roof installed 2015, New HVAC System Sept. 2017 .

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: Patriot Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Patriot Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Venus Elementary School Primary Regular 628 38 4
Venus Middle School Middle Regular 443 30 4
Venus High School High Regular 518 38 4

Venus Elementary School

  • Education Level: Primary
  • # of students: 628
  • # of teachers: 38
4
GreatSchools Rating

Venus Middle School

  • Education Level: Middle
  • # of students: 443
  • # of teachers: 30
4
GreatSchools Rating

Venus High School

  • Education Level: High
  • # of students: 518
  • # of teachers: 38
4
GreatSchools Rating
 

$179,100$218,900$199,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$691
Property Tax -$506
Property Insurance -$124
HOA -$31
Property Management Fees -$99
CASH FLOW
-$21

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.

$199,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,485

INVESTMENT

$58,485

Down Payment
$49,750
Rehab Estimate
$5,750
Closing Costs
$2,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$691

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,750
Loan Amount $149,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$5,769

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,593

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,430
1$1,4302$1,4503$1,6454$1,6955$1,699
$1,699
RENT COMPS ANALYSIS
  • 131 Independence Avenue Venus, TX 1
    • 3 beds 2 baths ∙ 1,677 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,677 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.85
    •  
  • 140 Jefferson Drive Venus, TX 2
    • 3 beds 2 baths ∙ 1,637 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,637 Sqft ∙ Built 2005
    property image
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.89
    •  
  • 124 Lone Star Avenue Venus, TX 3
    • 3 beds 2 baths ∙ 1,719 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,719 Sqft ∙ Built 2009
    property image
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.96
    •  
  • 106 Franklin Court Venus, TX 4
    • 3 beds 2 baths ∙ 1,719 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,719 Sqft ∙ Built 2008
    property image
    LEASED 03/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.99
    •  
  • 101 Hancock Street Venus, TX 5
    • 3 beds 3 baths ∙ 1,773 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,773 Sqft ∙ Built 2008
    property image
    LEASED 03/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.96
    •  
PROPERTY LISTING DETAILS
Melissa Bridgewater
All Cities Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14489660
Last Updated: 03/06/2021
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