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145 Washington Way Venus, TX 76084

3 Beds 3 Baths 1,772 sqft Built 2014

$229,500

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $129.51
  • 7 Days on Market
  • MLS # : 14501865
  • Updated Date : 01/22/2021 at 08:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,772 sqft
  • Baths : 2 full , 1 half
Listing Agent

Real

Listing Agent's Description

Great starter home! GORGEOUS two story with tons of updates including new paint, flooring, carpeting and more! Home has 3 bedrooms 2 full bath, 1 half bath, 2 car garage, nice size master bedroom, master bath upstairs which includes separate vanities, conveniently located with easy access to US 67 South. HOA includes private swimming pool, playground, basketball court, and picnic area

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: 76084

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $101k243k

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

Zip Code: 76084

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9871734

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$206,550$252,450$229,500

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$797
Property Tax -$634
Property Insurance -$130
HOA -$31
Property Management Fees -$99
CASH FLOW
-$61

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.

$229,500

PROJECTED PRICE

$1,630

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,568

INVESTMENT

$66,568

Down Payment
$57,375
Rehab Estimate
$5,750
Closing Costs
$3,443

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$797

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,375
Loan Amount $172,125
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$4,674

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,626

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,6303$1,6454$1,6455$1,750
$1,750
RENT COMPS ANALYSIS
  • 145 Washington Way Venus, TX 2
    • 3 beds 3 baths ∙ 1,772 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,772 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.92
    •  
  • 140 Jefferson Drive Venus, TX 1
    • 3 beds 2 baths ∙ 1,637 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,637 Sqft ∙ Built 2005
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.89
    •  
  • 124 Lone Star Avenue Venus, TX 3
    • 3 beds 2 baths ∙ 1,719 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,719 Sqft ∙ Built 2009
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.96
    •  
  • 166 Washington Way Venus, TX 4
    • 3 beds 3 baths ∙ 1,924 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,924 Sqft ∙ Built 2006
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.85
    •  
  • 413 Fox Hollow Venus, TX 5
    • 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 2003
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
PROPERTY LISTING DETAILS
Mirna Smith
Real
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501865
Last Updated: 01/22/2021
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