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1416 10th Street Argyle, TX 76226

3 Beds 4 Baths 3,028 sqft Built 2017

$500,000

List Price

$3,010

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $165.13
  • 3 Days on Market
  • MLS # : 14502372
  • Updated Date : 01/22/2021 at 08:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,028 sqft
  • Baths : 3 full , 1 half
Listing Agent

Magnolia Realty Argyle

Listing Agent's Description

Welcome home to this breathtaking 1.5 story gem zoned to the award-winning Argyle ISD & located in the Harvest community. You'll find your entire wish list and more with plantation shutters & wood floors throughout plus an integrated 22kW Generac natural gas back-up generator that powers the whole house. The gourmet kitchen opens up into the beautiful living room that's anchored with a gas log stone fireplace and overlooks the stunning backyard oasis. The master suite is exquisite with a dedicated sitting area perfect for a cozy movie night or a great book. Landscaped backyard with travertine pavers & a gorgeous pergola overlooks your large pool, making it the perfect place to enjoy your evenings.

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: 76226

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k417k

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

Zip Code: 76226

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262773

* 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
Argyle Intermediate School Primary Regular 295 17 8
Argyle Intermediate School Middle Regular 295 17 8
Argyle High School High Regular 711 50 8

Argyle Intermediate School

  • Education Level: Primary
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle Intermediate School

  • Education Level: Middle
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle High School

  • Education Level: High
  • # of students: 711
  • # of teachers: 50
8
GreatSchools Rating
 

$450,000$550,000$500,000

PURCHASE PRICE

$2,709$3,311$3,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,010
EXPENSES Loan Payment -$1,737
Property Tax -$994
Property Insurance -$202
HOA -$92
Property Management Fees -$99
CASH FLOW
-$114

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.

$500,000

PROJECTED PRICE

$3,010

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.6%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,737

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $125,000
Loan Amount $375,000
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$13,759

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,010

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $3,384

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$3,010
1$3,0102$3,2003$3,4504$3,7505$3,750
$3,750
RENT COMPS ANALYSIS
  • 1416 10th Street Argyle, TX 1
    • 3 beds 4 baths ∙ 3,028 Sqft ∙ Built 2017 3 beds 4 baths ∙ 3,028 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $3,010
    • $0.99
    •  
  • 220 Sunrise Drive Argyle, TX 2
    • 4 beds 3 baths ∙ 3,100 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,100 Sqft ∙ Built 2015
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.03
    •  
  • 224 Birdcall Lane Argyle, TX 3
    • 4 beds 4 baths ∙ 3,015 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,015 Sqft ∙ Built 2013
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $1.14
    •  
  • 720 Sunflower Avenue Argyle, TX 4
    • 4 beds 3 baths ∙ 3,307 Sqft ∙ Built 2019 4 beds 3 baths ∙ 3,307 Sqft ∙ Built 2019
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $1.13
    •  
  • 1301 5th Street Argyle, TX 5
    • 4 beds 4 baths ∙ 3,192 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,192 Sqft ∙ Built 2015
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $1.17
    •  
PROPERTY LISTING DETAILS
Wade Delk
Magnolia Realty Argyle
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14502372
Last Updated: 01/22/2021
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