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1412 Reiger Drive Greenville, TX 75402

3 Beds 2 Baths 1,717 sqft Built 2007

$194,900

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $113.51
  • 8 Days on Market
  • MLS # : 14475847
  • Updated Date : 11/22/2020 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,717 sqft
  • Baths : 2 full
Listing Agent

Tarpley, Realtors

Listing Agent's Description

The cozy covered patio welcomes you to this 3 bedroom 2 bath home ready for new owners. Features include split bedrooms, open living, kitchen with lots of cabinets and breakfast bar. The master bedroom has a large tiled shower and walk in closet. Roof is only 2 years old and the property has a brand new privacy fence. Check out all the possibilities! Information is deemed reliable, but is not guaranteed and should be verified by the buyer's agent. Buyer should verify any measurements and any tax exemptions, schools and other matters of interest.

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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: 75402

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $68k243k

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

Zip Code: 75402

ZipNIR Market*Market2010Year20002019 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
Travis Elementary School Primary Regular 356 26 3
Greenville Middle School Middle Regular 687 46 5
Greenville High School High Regular 1,077 89 5

Travis Elementary School

  • Education Level: Primary
  • # of students: 356
  • # of teachers: 26
3
GreatSchools Rating

Greenville Middle School

  • Education Level: Middle
  • # of students: 687
  • # of teachers: 46
5
GreatSchools Rating

Greenville High School

  • Education Level: High
  • # of students: 1,077
  • # of teachers: 89
5
GreatSchools Rating
 

$175,410$214,390$194,900

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$719
Property Tax -$438
Property Insurance -$126
HOA -$8
Property Management Fees -$99
CASH FLOW
$119

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.

$194,900

PROJECTED PRICE

$1,510

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.0%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$57,399

INVESTMENT

$57,399

Down Payment
$48,725
Rehab Estimate
$5,750
Closing Costs
$2,924

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$719

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,725
Loan Amount $146,175
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$20,466

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,502

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4503$1,4954$1,5005$1,510
$1,510
RENT COMPS ANALYSIS
  • 1412 Reiger Drive Greenville, TX 5
    • 3 beds 2 baths ∙ 1,717 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,717 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.88
    •  
  • 1410 Reiger Drive Greenville, TX 1
    • 3 beds 2 baths ∙ 1,719 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,719 Sqft ∙ Built 2006
    property image
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.84
    •  
  • 6502 Rienzi Drive Greenville, TX 2
    • 3 beds 2 baths ∙ 1,581 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,581 Sqft ∙ Built 2016
    property image
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
  • 6504 Rienzi Drive Greenville, TX 3
    • 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 2016
    property image
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.84
    •  
  • 6504 Ashland Drive Greenville, TX 4
    • 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 2016
    property image
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.90
    •  
PROPERTY LISTING DETAILS
Amy Tarpley Wade
Tarpley, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475847
Last Updated: 11/22/2020
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