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1412 Lexington Street Weatherford, TX 76086

3 Beds 2 Baths 1,907 sqft Built 2020

$266,000

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $139.49
  • 4 Days on Market
  • MLS # : 14463411
  • Updated Date : 11/02/2020 at 15:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,907 sqft
  • Baths : 2 full
Listing Agent

Sullivan Real Estate

Listing Agent's Description

Sharp, newly completed home just north of Weatherford Courthouse and within blocks of Marshall Park with splash pad. Open concept with vaulted ceilings and custom painted cabinets.Ceiling fans in living area and bedrooms. Granite counter tops throughout. Modern vinyl plankflooring. Tile showers and kitchen back splash. Large covered outdoor patio.

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

Zip Code: 76086

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $84k258k

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

Zip Code: 76086

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7611734

* 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
Juan N. Seguin Elementary School Primary Regular 611 42 3
Tison Middle School Middle Regular 554 39 5
Weatherford High School High Regular 2,238 148 6

Juan N. Seguin Elementary School

  • Education Level: Primary
  • # of students: 611
  • # of teachers: 42
3
GreatSchools Rating

Tison Middle School

  • Education Level: Middle
  • # of students: 554
  • # of teachers: 39
5
GreatSchools Rating

Weatherford High School

  • Education Level: High
  • # of students: 2,238
  • # of teachers: 148
6
GreatSchools Rating
 

$239,400$292,600$266,000

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$981
Property Tax -$566
Property Insurance -$137
Property Management Fees -$99
CASH FLOW
$176

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$266,000

PROJECTED PRICE

$1,960

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,490

INVESTMENT

$72,490

Down Payment
$66,500
Rehab Estimate
$2,000
Closing Costs
$3,990

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$981

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,500
Loan Amount $199,500
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$33,021

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,952

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,760
1$1,7602$1,8003$1,8754$1,960
$1,960
RENT COMPS ANALYSIS
  • 1412 Lexington Street Weatherford, TX 4
    • 3 beds 2 baths ∙ 1,907 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,907 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $1.03
    •  
  • 1440 Vine Street Weatherford, TX 1
    • 3 beds 2 baths ∙ 1,631 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,631 Sqft ∙ Built 2017
    property image
    LEASED 06/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $1.08
    •  
  • 130 Hummingbird Drive Weatherford, TX 2
    • 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 2005
    property image
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.03
    •  
  • 611 N Rusk Street Weatherford, TX 3
    • 3 beds 2 baths ∙ 1,952 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,952 Sqft ∙ Built 2019
    property image
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.96
    •  
PROPERTY LISTING DETAILS
Kim Autry
Sullivan Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463411
Last Updated: 11/02/2020
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