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134 Indian Paint Drive Justin, TX 76247

3 Beds 2 Baths 2,391 sqft Built 2006

$312,000

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $130.49
  • 3 Days on Market
  • MLS # : 14492922
  • Updated Date : 01/02/2021 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,391 sqft
  • Baths : 2 full
Listing Agent

Quantum Merit Realty

Listing Agent's Description

Gorgeous 3 car garage home nestled in the heart of the desirable Meadowlands! This professionally landscaped 3 bed, 2 bath home has room for everyone. Open floorplan boasts tile, gas stone fireplace, kitchen island, built ins, walk in pantry, utility cabinets, stud with French doors off entry and more. Attic is decked with electrical and added radiant barrier. Recently updated paint, fence and roof. Outdoor shop with electrical and swim spa and hot tub to relax in off the covered patio. This gem will not last long!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Meadowlands

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Meadowlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10532171

* 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
Justin Elementary School Primary Regular 506 33 5
Gene Pike Middle School Middle Regular 743 53 7
Northwest High School High Regular 2,793 170 6

Justin Elementary School

  • Education Level: Primary
  • # of students: 506
  • # of teachers: 33
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
 

$280,800$343,200$312,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,151
Property Tax -$650
Property Insurance -$165
HOA -$20
Property Management Fees -$99
CASH FLOW
-$26

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.

$312,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.5%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$88,430

INVESTMENT

$88,430

Down Payment
$78,000
Rehab Estimate
$5,750
Closing Costs
$4,680

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,151

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,000
Loan Amount $234,000
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$14,551

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,098

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,8003$1,9004$2,0605$2,370
$2,370
RENT COMPS ANALYSIS
  • 134 Indian Paint Drive Justin, TX 4
    • 3 beds 2 baths ∙ 2,391 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,391 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.86
    •  
  • 256 Pine Crest Drive Justin, TX 1
    • 4 beds 2 baths ∙ 2,080 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,080 Sqft ∙ Built 2002
    property image
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.79
    •  
  • 105 Chinos Trail Justin, TX 2
    • 3 beds 3 baths ∙ 2,107 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,107 Sqft ∙ Built 2002
    property image
    LEASED 08/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.85
    •  
  • 228 Cedar Crest Drive Justin, TX 3
    • 4 beds 2 baths ∙ 2,108 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,108 Sqft ∙ Built 2007
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.90
    •  
  • 126 Daisey Lane Justin, TX 5
    • 4 beds 3 baths ∙ 2,450 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,450 Sqft ∙ Built 1997
    property image
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $0.97
    •  
PROPERTY LISTING DETAILS
Holly Roth
Quantum Merit Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14492922
Last Updated: 01/02/2021
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