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1409 Downing Drive Aubrey, TX 76227

3 Beds 3 Baths 2,324 sqft Built 2017

$360,000

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $154.91
  • 4 Days on Market
  • MLS # : 14512406
  • Updated Date : 02/04/2021 at 03:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,324 sqft
  • Baths : 2 full , 1 half
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

Built in 2017, this Aubrey two-story cul-de-sac home offers granite countertops, and a two-car garage. This home is vacant and cleaned regularly.

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

Neighborhood: Savannah

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $117k336k

* 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
Denton High School High Regular 2,166 140 6

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

Denton High School

  • Education Level: High
  • # of students: 2,166
  • # of teachers: 140
6
GreatSchools Rating
 

$324,000$396,000$360,000

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,250
Property Tax -$819
Property Insurance -$162
HOA -$71
Property Management Fees -$99
CASH FLOW
-$321

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.

$360,000

PROJECTED PRICE

$2,080

PROJECTED RENT

0.58%

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-$8.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$792

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,225

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,999
1$1,9992$2,0803$2,1004$2,2505$2,300
$2,300
RENT COMPS ANALYSIS
  • 1409 Downing Drive Aubrey, TX 2
    • 3 beds 3 baths ∙ 2,324 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,324 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $0.90
    •  
  • 1009 Appalachian Lane Savannah, TX 1
    • 3 beds 3 baths ∙ 2,141 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,141 Sqft ∙ Built 2009
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.93
    •  
  • 1224 Hayden Lane Savannah, TX 3
    • 4 beds 3 baths ∙ 2,244 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,244 Sqft ∙ Built 2008
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.94
    •  
  • 1520 Bull Street Aubrey, TX 4
    • 4 beds 3 baths ∙ 2,337 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,337 Sqft ∙ Built 2016
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.96
    •  
  • 1601 Downing Drive Aubrey, TX 5
    • 3 beds 2 baths ∙ 2,309 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,309 Sqft ∙ Built 2016
    LEASED 02/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.00
    •  
PROPERTY LISTING DETAILS
Feras Rachid
Opendoor Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14512406
Last Updated: 02/04/2021
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