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1318 Alabama Road Murphy, TX 75094

3 Beds 2 Baths 2,001 sqft Built 2005

$339,900

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $169.87
  • 5 Days on Market
  • MLS # : 14517873
  • Updated Date : 03/13/2021 at 08:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,001 sqft
  • Baths : 2 full
Listing Agent

Direct Realty

Listing Agent's Description

***Multiple offers received - highest and best due by Sunday 3-14 by 3pm ****Close to half an acre (0.43) lot in Murphy!! Ranch style house with swing car garage!! KITCHEN WITH CERAMIC TILE, WINDOW SEAT, AND ISLAND. MASTER BATH WITH OVERSIZED SHOWER, CORNER GARDEN TUB, DOUBLE SINKS, AND WALK-IN CLOSET, WONDERFUL DRIVE UP APPEAL WITH EYE-CATCHING LANDSCAPING. HUGE BACKYARD WITH TONS OF ROOM!! TILE AND LAMINATE FLOORING THROUGHOUT. COMMUNITY POOL, PARK, AND TRAILS. 2 LIVING & 2 EATING AREAS. Storage Unit!!! New inside paint, New Outside Paint, 2019 AC!! MUST SEE!!

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: The Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k394k

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

Neighborhood: The Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262392

* 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
Tibbals Elementary School Primary Regular 613 37 10
Wylie High School High Regular 2,061 127 9

Tibbals Elementary School

  • Education Level: Primary
  • # of students: 613
  • # of teachers: 37
10
GreatSchools Rating

Wylie High School

  • Education Level: High
  • # of students: 2,061
  • # of teachers: 127
9
GreatSchools Rating
 

$305,910$373,890$339,900

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,181
Property Tax -$592
Property Insurance -$143
HOA -$15
Property Management Fees -$99
CASH FLOW
-$179

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.

$339,900

PROJECTED PRICE

$1,850

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,824

INVESTMENT

$95,824

Down Payment
$84,975
Rehab Estimate
$5,750
Closing Costs
$5,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,975
Loan Amount $254,925
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$5,038

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,991

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8503$1,8504$1,9005$2,000
$2,000
RENT COMPS ANALYSIS
  • 1318 Alabama Road Murphy, TX 3
    • 3 beds 2 baths ∙ 2,001 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,001 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.92
    •  
  • 608 Comanche Trail Murphy, TX 1
    • 3 beds 2 baths ∙ 1,831 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,831 Sqft ∙ Built 2002
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.98
    •  
  • 509 Comanche Trail Murphy, TX 2
    • 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 2002
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.00
    •  
  • 1305 Rodeo Drive Murphy, TX 4
    • 3 beds 2 baths ∙ 1,899 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,899 Sqft ∙ Built 2004
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.00
    •  
  • 1211 Rodeo Drive Murphy, TX 5
    • 3 beds 2 baths ∙ 1,992 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,992 Sqft ∙ Built 2003
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.00
    •  
PROPERTY LISTING DETAILS
Jay Kantaria
Direct Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14517873
Last Updated: 03/13/2021
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