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134 Washington Way Venus, TX 76084

3 Beds 2 Baths 1,719 sqft Built 2008

$208,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2008
  • Price/Sqft : $121.00
  • 62 Days on Market
  • MLS # : 14429626
  • Updated Date : 11/05/2020 at 15:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,719 sqft
  • Baths : 2 full
Listing Agent

Tdrealty

Listing Agent's Description

BACK ON THE MARKET!! DON'T MISS IS AMAZING HOME! BUYERS FINANCING FELL-THROUGH. This LOVELY home is tucked away in an established neighborhood, that gives you the quiet country feel without being too far off the beaten path. Located just seconds convenient access to groceries without traveling too far. You're going to fall in love with the covered front porch and the charming front door of this home right off the bat. If that doesn't get you smitten the OVER-SIZED living area will. The LARGE kitchen abounds with storage, and natural lighting, as well as STUNNING flooring, can be found throughout this home. As an added bonus the pantry utility closet is HUGE, and the master bedroom is quite spacious as well.

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: Patriot Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Patriot Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Venus Elementary School Primary Regular 628 38 4
Venus Middle School Middle Regular 443 30 4
Venus High School High Regular 518 38 4

Venus Elementary School

  • Education Level: Primary
  • # of students: 628
  • # of teachers: 38
4
GreatSchools Rating

Venus Middle School

  • Education Level: Middle
  • # of students: 443
  • # of teachers: 30
4
GreatSchools Rating

Venus High School

  • Education Level: High
  • # of students: 518
  • # of teachers: 38
4
GreatSchools Rating
 

$187,200$228,800$208,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$767
Property Tax -$529
Property Insurance -$127
HOA -$31
Property Management Fees -$99
CASH FLOW
$48

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.

$208,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,870

INVESTMENT

$60,870

Down Payment
$52,000
Rehab Estimate
$5,750
Closing Costs
$3,120

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,000
Loan Amount $156,000
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$13,169

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,642

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5953$1,6004$1,6455$1,750
$1,750
RENT COMPS ANALYSIS
  • 134 Washington Way Venus, TX 3
    • 3 beds 2 baths ∙ 1,719 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,719 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.93
    •  
  • 140 Jefferson Drive Venus, TX 1
    • 3 beds 2 baths ∙ 1,637 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,637 Sqft ∙ Built 2005
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.89
    •  
  • 120 Alamo Way Venus, TX 2
    • 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 2018
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.00
    •  
  • 124 Lone Star Avenue Venus, TX 4
    • 3 beds 2 baths ∙ 1,719 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,719 Sqft ∙ Built 2009
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.96
    •  
  • 413 Fox Hollow Venus, TX 5
    • 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 2003
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
PROPERTY LISTING DETAILS
Tanika Donnell
Tdrealty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14429626
Last Updated: 11/05/2020
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