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1404 Steve Drive Crowley, TX 76036

4 Beds 3 Baths 2,452 sqft Built 2017

$352,900

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $143.92
  • 1 Days on Market
  • MLS # : 14532743
  • Updated Date : 03/13/2021 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,452 sqft
  • Baths : 3 full
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

Pride of ownership is apparent in this upgraded 4 bedroom, 3 full bath home! Beautiful driveup, nicely landscaped, stone elevation, and shutters. Spacious family-sized living room features a cozy wood-burning fireplace with marble stone surround and an elegant mantel. Wall of windows cascade natural light throughout the home. Your dream kitchen awaits quartz counters, custom painted cabinets with additional built-in cabinets, and counter space for easy entertaining. Relax and unwind in the oversized primary suite with wood-type flooring and an inviting sitting ledge. Covered patio and pool-sized backyard are ready to make your dreams come true. Great location off of Crowley Rd and easy access to I35W.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Zip Code: 76036

ZipNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240kPrice in $122k243k

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

Zip Code: 76036

ZipNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* 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
Frazier Elementary School Primary Regular 569 36 7
Burleson High School High Regular 1,583 101 7

Frazier Elementary School

  • Education Level: Primary
  • # of students: 569
  • # of teachers: 36
7
GreatSchools Rating

Burleson High School

  • Education Level: High
  • # of students: 1,583
  • # of teachers: 101
7
GreatSchools Rating
 

$317,610$388,190$352,900

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,226
Property Tax -$874
Property Insurance -$169
HOA -$33
Property Management Fees -$99
CASH FLOW
-$511

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.

$352,900

PROJECTED PRICE

$1,890

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.5%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

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$99,269

INVESTMENT

$99,269

Down Payment
$88,225
Rehab Estimate
$5,750
Closing Costs
$5,294

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,226

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $88,225
Loan Amount $264,675
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$7

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,066

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7503$1,8254$1,8905$1,999
$1,999
RENT COMPS ANALYSIS
  • 1404 Steve Drive Crowley, TX 4
    • 4 beds 3 baths ∙ 2,452 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,452 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.77
    •  
  • 1328 Blue Gill Lane Crowley, TX 1
    • 3 beds 2 baths ∙ 2,127 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,127 Sqft ∙ Built 2003
    property image
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.80
    •  
  • 1408 Blue Gill Lane Crowley, TX 2
    • 3 beds 2 baths ∙ 2,193 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,193 Sqft ∙ Built 2003
    property image
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.80
    •  
  • 1133 Mourning Dove Drive Burleson, TX 3
    • 4 beds 2 baths ∙ 2,104 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,104 Sqft ∙ Built 2007
    property image
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.87
    •  
  • 629 Sydney Lane Burleson, TX 5
    • 3 beds 2 baths ∙ 2,215 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,215 Sqft ∙ Built 2008
    property image
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.90
    •  
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 #: 14532743
Last Updated: 03/13/2021
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