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1420 Canales Trail Farmersville, TX 75442

4 Beds 2 Baths 2,235 sqft Built 2020

INVESTimate

$368,775

List Price

$2,150

$1,935 - $2,365

Rent Est.

$404,767  ( +9.76%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $165.00
  • 3 Days on Market
  • MLS # : 14420004
  • Updated Date : 08/25/2020 at 14:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,235 sqft
  • Baths : 2 full
Listing Agent

William Davis Realty Frisco

Listing Agent's Description

Brand New Custom Home Under Construction with LJ Custom Homes. This is the Tres Plan. Gorgeous Private Community with only 20 homes on at least an Acre of Land with Pipe Fencing and 3 Car Garage. Sought After Community ISD. The views from these homes are amazing. Loaded with custom features. Only a few left, going fast. December 2020 to January 2021 estimated completion date All information to be verified by buyer before closing

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: 75442

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $101k297k

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

Zip Code: 75442

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8381734

* 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
Farmersville Intermediate School Primary Regular 490 31 6
Farmersville Junior High School Middle Regular 373 24 8
Farmersville High School High Regular 450 35 6

Farmersville Intermediate School

  • Education Level: Primary
  • # of students: 490
  • # of teachers: 31
6
GreatSchools Rating

Farmersville Junior High School

  • Education Level: Middle
  • # of students: 373
  • # of teachers: 24
8
GreatSchools Rating

Farmersville High School

  • Education Level: High
  • # of students: 450
  • # of teachers: 35
6
GreatSchools Rating
 

$331,898$405,653$368,775

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,361
Property Tax -$717
Property Insurance -$156
Property Management Fees -$99
CASH FLOW
-$183

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$368,775

PROJECTED PRICE

$2,150

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.76%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,725

INVESTMENT

$99,725

Down Payment
$92,194
Rehab Estimate
$2,000
Closing Costs
$5,532

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,361

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,194
Loan Amount $276,581
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$7,786

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,146

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1003$2,1004$2,1505$2,400
$2,400
RENT COMPS ANALYSIS
  • 1420 Canales Trail Farmersville, TX 4
    • 4 beds 2 baths ∙ 2,235 Sqft ∙ Built 2020 4 beds 2 baths ∙ 2,235 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.96
    •  
  • 1804 Yale Street Farmersville, TX 1
    • 5 beds 4 baths ∙ 2,331 Sqft ∙ Built 2019 5 beds 4 baths ∙ 2,331 Sqft ∙ Built 2019
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.86
    •  
  • 833 Lester Burt Road Farmersville, TX 2
    • 3 beds 2 baths ∙ 2,095 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,095 Sqft ∙ Built 2007
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.00
    •  
  • 861 Lester Burt Road Farmersville, TX 3
    • 3 beds 2 baths ∙ 2,240 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,240 Sqft ∙ Built 2008
    property image
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.94
    •  
  • 989 Southgate Court Farmersville, TX 5
    • 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 2018
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.04
    •  
PROPERTY LISTING DETAILS
Cindy Coats
William Davis Realty Frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14420004
Last Updated: 08/25/2020
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