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1321 Elkford Lane Justin, TX 76247

3 Beds 2 Baths 1,507 sqft Built 2011

$237,000

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $157.27
  • 7 Days on Market
  • MLS # : 14468326
  • Updated Date : 11/09/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,507 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

Built in 2011, this Justin one-story home offers granite countertops and a two-car garage. This home is vacant and cleaned regularly.

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

Neighborhood: Rivers Edge

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Rivers Edge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10452171

* 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
Clara Love Elementary School Primary Regular 689 43 5
Gene Pike Middle School Middle Regular 743 53 7
Northwest High School High Regular 2,793 170 6

Clara Love Elementary School

  • Education Level: Primary
  • # of students: 689
  • # of teachers: 43
5
GreatSchools Rating

Gene Pike Middle School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 53
7
GreatSchools Rating

Northwest High School

  • Education Level: High
  • # of students: 2,793
  • # of teachers: 170
6
GreatSchools Rating
 

$213,300$260,700$237,000

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$874
Property Tax -$494
Property Insurance -$114
HOA -$73
Property Management Fees -$99
CASH FLOW
-$275

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.

$237,000

PROJECTED PRICE

$1,380

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.0%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,555

INVESTMENT

$68,555

Down Payment
$59,250
Rehab Estimate
$5,750
Closing Costs
$3,555

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$874

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,250
Loan Amount $177,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$243

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,518

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,380
1$1,3802$1,4953$1,5004$1,5255$1,750
$1,750
RENT COMPS ANALYSIS
  • 1321 Elkford Lane Justin, TX 1
    • 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.92
    •  
  • 1721 Baxter Springs Drive Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 2004
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.99
    •  
  • 16520 Cowboy Trail Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 2005
    LEASED 09/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.00
    •  
  • 16521 Jasmine Springs Drive Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 2005
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.01
    •  
  • 1445 Amazon Drive Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 2007
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.03
    •  
PROPERTY LISTING DETAILS
Feras Rachid
Opendoor Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14468326
Last Updated: 11/09/2020
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