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131 Presidents Way Venus, TX 76084

3 Beds 2 Baths 1,597 sqft Built 2017

INVESTimate

$210,000

List Price

$1,560

$1,404 - $1,716

Rent Est.

$223,881  ( +6.61%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $131.50
  • 4 Days on Market
  • MLS # : 14417927
  • Updated Date : 08/24/2020 at 17:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,597 sqft
  • Baths : 2 full
Listing Agent

Jp And Associates Burleson

Listing Agent's Description

Better than new! 3 bedroom home in Patriot Estates. This home features a large family room with plenty of natural light, fully equipped kitchen with granite countertops, energy-efficient appliances (including refrigerator) and more. The spacious master suite features walk-in closet, soaking tub and separate shower. Huge back yard with room for your own private pool. Community pool and park within walking distance. This home is a must see.

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

Zip Code: 76084

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $101k243k

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

Zip Code: 76084

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9871734

* 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
J.a. Vitovsky Elementary Primary Regular 646 47 4
Frank Seale Middle School Middle Regular 908 48 7
Midlothian High School High Regular 2,390 141 6

J.a. Vitovsky Elementary

  • Education Level: Primary
  • # of students: 646
  • # of teachers: 47
4
GreatSchools Rating

Frank Seale Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 48
7
GreatSchools Rating

Midlothian High School

  • Education Level: High
  • # of students: 2,390
  • # of teachers: 141
6
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$775
Property Tax -$329
Property Insurance -$120
HOA -$28
Property Management Fees -$99
CASH FLOW
$210

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.

$210,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.61%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$775

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$33,832

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,537

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5603$1,5954$1,6005$1,645
$1,645
RENT COMPS ANALYSIS
  • 131 Presidents Way Venus, TX 2
    • 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.98
    •  
  • 140 Jefferson Drive Venus, TX 1
    • 3 beds 2 baths ∙ 1,637 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,637 Sqft ∙ Built 2005
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.89
    •  
  • 120 Alamo Way Venus, TX 3
    • 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 2018
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.00
    •  
  • 103 Kennedy Drive Venus, TX 4
    • 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 2017
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.00
    •  
  • 124 Lone Star Avenue Venus, TX 5
    • 3 beds 2 baths ∙ 1,719 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,719 Sqft ∙ Built 2009
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.96
    •  
PROPERTY LISTING DETAILS
Chris Laghezza
Jp And Associates Burleson
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417927
Last Updated: 08/24/2020
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