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1324 Meadow Creek Drive Princeton, TX 75407

4 Beds 2 Baths 1,630 sqft Built 2018

$245,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $150.31
  • 3 Days on Market
  • MLS # : 14517994
  • Updated Date : 02/12/2021 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,630 sqft
  • Baths : 2 full
Listing Agent

Re/max Town & Country

Listing Agent's Description

Beautiful 1 story 4 Bedrooms with the perfect layout. Appealing gourmet Kitchen, perfect open concept to entertain friends and family, granite countertops. In kitchen Stainless Steel appliances. Family area extremely open with warm natural lighting to enjoy. Huge master bedroom, walking closet, and master bath. Great Laundry room, 2 car garage. Also, enjoy your daily walks runs on the alluring trails. Awesome community with pool and park areas for the family. Elementary school is walking distance from the home. This house is well taken care of. Still looking like if it was build yesterday. 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: 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

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$851
Property Tax -$511
Property Insurance -$121
HOA -$38
Property Management Fees -$99
CASH FLOW
$41

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

$1,660

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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$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

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.

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$13,418

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,642

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6003$1,6504$1,6605$1,695
$1,695
RENT COMPS ANALYSIS
  • 1324 Meadow Creek Drive Princeton, TX 4
    • 4 beds 2 baths ∙ 1,630 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,630 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $1.02
    •  
  • 1408 Meadow Creek Drive Princeton, TX 1
    • 4 beds 2 baths ∙ 1,591 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,591 Sqft ∙ Built 2015
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.00
    •  
  • 3107 Winding Meadow Trail Princeton, TX 2
    • 4 beds 2 baths ∙ 1,567 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,567 Sqft ∙ Built 2018
    LEASED 12/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.02
    •  
  • 2119 Meadow View Drive Princeton, TX 3
    • 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 2014
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
  • 1217 Antoinette Drive Princeton, TX 5
    • 3 beds 2 baths ∙ 1,684 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,684 Sqft ∙ Built 2013
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.01
    •  
PROPERTY LISTING DETAILS
Raul Fierro
Re/max Town & Country
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14517994
Last Updated: 02/12/2021
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