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1417 1st Street Argyle, TX 76226

4 Beds 3 Baths 2,205 sqft Built 2014

$345,000

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $156.46
  • 3 Days on Market
  • MLS # : 14471991
  • Updated Date : 11/20/2020 at 10:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,205 sqft
  • Baths : 3 full
Listing Agent

Magnolia Realty Argyle

Listing Agent's Description

Welcome home to your designer retreat built by Highland Homes, with your entire wish list in Community of the Year Harvest. Zoned to the highly sought after Argyle ISD. Imagine your holiday parties in your impressive kitchen, with a granite island, stunning backsplash, four-burner gas cooktop, and all SS appliances. All overlooking your large living space with hand-scraped hardwood floors centered with a stone fireplace, and a dry bar perfect for entertaining. Your luxury master suite is built for relaxing with a walk-in shower, soaking tub, and a walk-in closet. Walking distance to most of the incredible community amenities includes resort-style pools, jogging trails, a private pond, a coffee shop, and more!

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
Justin Elementary School Primary Regular 506 33 5
Gene Pike Middle School Middle Regular 743 53 7
Northwest High School High Regular 2,793 170 6

Justin Elementary School

  • Education Level: Primary
  • # of students: 506
  • # of teachers: 33
5
GreatSchools Rating

Gene Pike Middle School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 53
7
GreatSchools Rating

Northwest High School

  • Education Level: High
  • # of students: 2,793
  • # of teachers: 170
6
GreatSchools Rating
 

$310,500$379,500$345,000

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$1,273
Property Tax -$779
Property Insurance -$155
HOA -$92
Property Management Fees -$99
CASH FLOW
$92

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.

$345,000

PROJECTED PRICE

$2,490

PROJECTED RENT

0.72%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,273

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$25,447

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $2,470

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,4003$2,4904$2,5005$2,595
$2,595
RENT COMPS ANALYSIS
  • 1417 1st Street Argyle, TX 3
    • 4 beds 3 baths ∙ 2,205 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,205 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $1.13
    •  
  • 109 Cole Court Northlake, TX 1
    • 3 beds 2 baths ∙ 2,031 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,031 Sqft ∙ Built 2015
    property image
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.13
    •  
  • 1716 Sparrow Street Northlake, TX 2
    • 3 beds 2 baths ∙ 2,171 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,171 Sqft ∙ Built 2016
    property image
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.11
    •  
  • 117 Cole Court Argyle, TX 4
    • 4 beds 3 baths ∙ 2,259 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,259 Sqft ∙ Built 2015
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.11
    •  
  • 120 Lilypad Bend Argyle, TX 5
    • 3 beds 3 baths ∙ 2,289 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,289 Sqft ∙ Built 2013
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.13
    •  
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 #: 14471991
Last Updated: 11/20/2020
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