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1417 Cooks Corner Road Pottsboro, TX 75076

4 Beds 3 Baths 2,015 sqft Built 1980

$485,000

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $240.69
  • 2 Days on Market
  • MLS # : 14502385
  • Updated Date : 01/23/2021 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,015 sqft
  • Baths : 2 full , 1 half
Listing Agent

Towery Realty

Listing Agent's Description

4 bed 2.5 bath Ranch style house with pond. Beautiful view with large mature trees, 30x40 Metal Shop. Could be your own Farm in great location.

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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: 75076

ZipNIR Market*CityMarket2010Year2000201970k80k90k100k110k120k130k140k150k160k170kPrice in $65k176k

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

Zip Code: 75076

No Data Available.

* 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
Pottsboro Elementary School Primary Regular 439 25 4
Pottsboro Middle School Middle Regular 314 20 6
Pottsboro High School High Regular 430 30 7

Pottsboro Elementary School

  • Education Level: Primary
  • # of students: 439
  • # of teachers: 25
4
GreatSchools Rating

Pottsboro Middle School

  • Education Level: Middle
  • # of students: 314
  • # of teachers: 20
6
GreatSchools Rating

Pottsboro High School

  • Education Level: High
  • # of students: 430
  • # of teachers: 30
7
GreatSchools Rating
 

$436,500$533,500$485,000

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,685
Property Tax -$715
Property Insurance -$137
Property Management Fees -$99
CASH FLOW
-$756

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$485,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
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-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

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$134,275

INVESTMENT

$134,275

Down Payment
$121,250
Rehab Estimate
$5,750
Closing Costs
$7,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,685

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $121,250
Loan Amount $363,750
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

$0

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,237

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,880
1$1,8802$2,000
$2,000
RENT COMPS ANALYSIS
  • 1417 Cooks Corner Road Pottsboro, TX 1
    • 4 beds 3 baths ∙ 2,015 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,015 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.93
    •  
  • 37 Byrd Lane Pottsboro, TX 2
    • 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 1981
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.11
    •  
PROPERTY LISTING DETAILS
Chad Towery
Towery Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14502385
Last Updated: 01/23/2021
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