Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1400 Chestnut Drive Savannah, TX 76227

3 Beds 2 Baths 1,795 sqft Built 2006

$282,300

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $157.27
  • 3 Days on Market
  • MLS # : 14488421
  • Updated Date : 12/18/2020 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,795 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

YOU WILL LOVE THE DRIVE-UP TO THIS CRAFTSMAN-STYLE HOME IN THE RESORT COMMUNITY OF SAVANNAH! This thoughtful floorplan offers 3 bedrooms, 2 full bathrooms with a gorgeous dining room. The foyer features high ceilings & leads to the spacious living room that offers wood type flooring & large windows that accent pleasing views of the backyard. The kitchen is open to the living & has a walk-through to the dining room for easy while entertaining. The wonderfully designed kitchen provides beautiful oak cabinets & a breakfast nook. Many amenities including a water park, tennis courts, and much more! Buyer & Buyer Agent to verify all info including, but not limited to, room dimensions, features, schools.

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: Savannah

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Savannah

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Savannah Elementary School Primary Regular 640 42 6
Navo Middle School Middle Regular 1,077 65 7
Billy Ryan High School High Regular 2,409 170 5

Savannah Elementary School

  • Education Level: Primary
  • # of students: 640
  • # of teachers: 42
6
GreatSchools Rating

Navo Middle School

  • Education Level: Middle
  • # of students: 1,077
  • # of teachers: 65
7
GreatSchools Rating

Billy Ryan High School

  • Education Level: High
  • # of students: 2,409
  • # of teachers: 170
5
GreatSchools Rating
 

$254,070$310,530$282,300

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,042
Property Tax -$642
Property Insurance -$131
HOA -$71
Property Management Fees -$99
CASH FLOW
-$245

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.

$282,300

PROJECTED PRICE

$1,740

PROJECTED RENT

0.62%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$80,560

INVESTMENT

$80,560

Down Payment
$70,575
Rehab Estimate
$5,750
Closing Costs
$4,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,575
Loan Amount $211,725
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$1,289

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,750

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,6753$1,6954$1,7405$1,800
$1,800
RENT COMPS ANALYSIS
  • 1400 Chestnut Drive Savannah, TX 4
    • 3 beds 2 baths ∙ 1,795 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,795 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.97
    •  
  • 1413 Augusta Drive Savannah, TX 1
    • 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 2004
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.91
    •  
  • 1700 Jasmine Trail Savannah, TX 2
    • 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 2004
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.97
    •  
  • 1508 Chestnut Drive Savannah, TX 3
    • 3 beds 2 baths ∙ 1,703 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,703 Sqft ∙ Built 2004
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.00
    •  
  • 1413 Carriage Lane Savannah, TX 5
    • 4 beds 2 baths ∙ 1,759 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,759 Sqft ∙ Built 2004
    property image
    LEASED 11/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.02
    •  
PROPERTY LISTING DETAILS
Wendy Galloway
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14488421
Last Updated: 12/18/2020
BESbswy