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1314 Winston Drive Corinth, TX 76210

4 Beds 4 Baths 2,675 sqft Built 1989

$387,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $144.67
  • 3 Days on Market
  • MLS # : 14535166
  • Updated Date : 03/19/2021 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,675 sqft
  • Baths : 3 full , 1 half
Listing Agent

Attorney Broker Services

Listing Agent's Description

Enjoy this beautiful home in Oakmont Estates. Owners qualify to join Oakmont Country Club. This large lot showcases the mature trees and private backyard and covered patio. Parking is no problem. This home has a long driveway and 3-car detached garage with covered walkway attached to the home. Make sure to see updates with engineered wood floors throughout most of the downstairs, quartz countertops in kitchen, and double oven unit. This spacious home showcases large bedrooms with walk-in closets, downstairs master suite with jetted tub and large shower, upstairs game room, and two bathrooms upstairs and powder bath down. This house is loaded with lots of charm and upgrades!

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: Oakmont Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k347k

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

Neighborhood: Oakmont Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100220023002400Rent in $10842420

* 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
L.a. Nelson Elementary School Primary Regular 655 43 7
Crownover Middle School Middle Regular 938 59 8
John H. Guyer High School High Regular 2,395 162 8

L.a. Nelson Elementary School

  • Education Level: Primary
  • # of students: 655
  • # of teachers: 43
7
GreatSchools Rating

Crownover Middle School

  • Education Level: Middle
  • # of students: 938
  • # of teachers: 59
8
GreatSchools Rating

John H. Guyer High School

  • Education Level: High
  • # of students: 2,395
  • # of teachers: 162
8
GreatSchools Rating
 

$348,300$425,700$387,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,344
Property Tax -$782
Property Insurance -$182
Property Management Fees -$99
CASH FLOW
-$277

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.

$387,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$108,305

INVESTMENT

$108,305

Down Payment
$96,750
Rehab Estimate
$5,750
Closing Costs
$5,805

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,344

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,750
Loan Amount $290,250
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,498

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,093

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0503$2,0754$2,1305$2,195
$2,195
RENT COMPS ANALYSIS
  • 1314 Winston Drive Corinth, TX 4
    • 4 beds 4 baths ∙ 2,675 Sqft ∙ Built 1989 4 beds 4 baths ∙ 2,675 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $0.80
    •  
  • 5105 Spyglass Hill Lane Denton, TX 1
    • 4 beds 3 baths ∙ 2,729 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,729 Sqft ∙ Built 2009
    property image
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.73
    •  
  • 2212 Knob Hill Drive Corinth, TX 2
    • 4 beds 3 baths ∙ 2,594 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,594 Sqft ∙ Built 1998
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.79
    •  
  • 3705 Saint Johns Drive Denton, TX 3
    • 4 beds 3 baths ∙ 2,748 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,748 Sqft ∙ Built 1999
    property image
    LEASED 02/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.76
    •  
  • 1119 Postwood Drive Corinth, TX 5
    • 3 beds 2 baths ∙ 2,571 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,571 Sqft ∙ Built 1999
    property image
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.85
    •  
PROPERTY LISTING DETAILS
Kelly Evans
Attorney Broker Services
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14535166
Last Updated: 03/19/2021
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