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146 Brazos Drive New Fairview, TX 76078

3 Beds 2 Baths 2,014 sqft Built 2013

$385,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $191.16
  • 4 Days on Market
  • MLS # : 14463203
  • Updated Date : 11/12/2020 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,014 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Escape to the lone prairie on your own acre. Beautiful open concept with gorgeous ceramic tile through out living areas, master bedroom and study-sewing room. Kitchen has granite counter tops with updated features and stainless steel appliances which will stay. Master bedroom has walk in closets with dual sinks and separate shower in bath. Enjoy family and friends around the salt water pool (locked fenced around), raised garden enclosed, chicken coop (fresh eggs). Pool pump replaced in 2019, salt cell in 2020. HVAC replaced in 2020 has 4 ton variable speed and heat pump. Large shed (12 x 24) includes storage and a workshop with electric. Porch with large ceiling fan, fire pit with nice pergola's around it.

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: 76078

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $99k266k

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

Zip Code: 76078

ZipNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* 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
Seven Hills Elementary School Primary Regular 560 37 4
Chisholm Trail Middle School Middle Regular 899 64 7
Northwest High School High Regular 2,793 170 6

Seven Hills Elementary School

  • Education Level: Primary
  • # of students: 560
  • # of teachers: 37
4
GreatSchools Rating

Chisholm Trail Middle School

  • Education Level: Middle
  • # of students: 899
  • # of teachers: 64
7
GreatSchools Rating

Northwest High School

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

$346,500$423,500$385,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,420
Property Tax -$699
Property Insurance -$144
Property Management Fees -$99
CASH FLOW
-$682

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.

$385,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.2%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,250
Loan Amount $288,750
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.

  • $1,680

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,511

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,680
$1,680
RENT COMPS ANALYSIS
  • 146 Brazos Drive Rhome, TX 2
    • 3 beds 2 baths ∙ 2,014 Sqft ∙ Built 2013 3 beds 2 baths ∙ 2,014 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.83
    •  
  • 150 Morgan Place New Fairview, TX 1
    • 3 beds 2 baths ∙ 1,792 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,792 Sqft ∙ Built 1997
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.75
    •  
PROPERTY LISTING DETAILS
Mary Ann Zevchak
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463203
Last Updated: 11/12/2020
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