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1311 Jasper Crossing Princeton, TX 75407

4 Beds 3 Baths 2,159 sqft Built 2017

INVESTimate

$245,000

List Price

$1,730

$1,557 - $1,903

Rent Est.

$265,482  ( +8.36%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $113.48
  • 6 Days on Market
  • MLS # : 14415304
  • Updated Date : 08/23/2020 at 22:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,159 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Dfw Associates

Listing Agent's Description

MULTIPLE OFFERS Received!! Beautiful two story home with VERY high ceilings as you enter your home and into both the living and dining areas! Large kitchen with granite counter tops and a large breakfast area. Master down with large walk-in closet! All secondary bedrooms are large. Front covered porch and nice pergola in the large backyard. Relaxing view in the back of the home with large trees and no neighbors right behind you, giving you the privacy you've always wanted! This home is less than 3 years old and has a sprinkler system with rain sensor, radiant barrier, and is very energy efficient!

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: 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
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,557$1,903$1,730

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$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$904
Property Tax -$511
Property Insurance -$152
HOA -$38
Property Management Fees -$99
CASH FLOW
$27

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.

$245,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.36%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$15,027

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,857

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7303$1,8004$1,8005$1,900
$1,900
RENT COMPS ANALYSIS
  • 1311 Jasper Crossing Princeton, TX 2
    • 4 beds 3 baths ∙ 2,159 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,159 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.80
    •  
  • 814 Rustic Meadows Trail Princeton, TX 1
    • 4 beds 2 baths ∙ 2,080 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,080 Sqft ∙ Built 2018
    property image
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.82
    •  
  • 702 Rustic Meadows Trail Princeton, TX 3
    • 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 2018
    property image
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.84
    •  
  • 1500 Copper Street Princeton, TX 4
    • 4 beds 2 baths ∙ 2,089 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,089 Sqft ∙ Built 2017
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.86
    •  
  • 1010 Churchill Drive Princeton, TX 5
    • 4 beds 2 baths ∙ 2,057 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,057 Sqft ∙ Built 2006
    property image
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.92
    •  
PROPERTY LISTING DETAILS
Laura Beytia
Re/max Dfw Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415304
Last Updated: 08/23/2020
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