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149 Mill Crossing Lane Springtown, TX 76082

4 Beds 2 Baths 2,440 sqft Built 2014

$343,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $140.57
  • 2 Days on Market
  • MLS # : 14485600
  • Updated Date : 12/19/2020 at 02:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,440 sqft
  • Baths : 2 full
Listing Agent

Exp Realty, Llc

Listing Agent's Description

This is a House to GET EXCITED ABOUT, Impeccable Home in Desired area, Entering through Grandiose Front Door leads you through Impressive Arch ways, Recessed Lighted Ceilings throughout, Plantation Shutters, lots of Cabinets, Open Concept, Split Bedrooms, Office or Playroom, Large Laundry Room w Granite Top Built-in for folding and storage, Large Master Bath with Over Sized Shower, Dual Sinks ,Large Closet also Leads to Laundry Room, Lots of Attic Space, Built-in Shoe and Clothes Cubby leading to 3 car Spit Garage w Frig Plug in. Backyard FUN, Enjoy Covered Porch w Niche for Flat Screen above Wood Burning Fireplace and enjoy Smore Night w Outside Fire Pit, room for Shop, Playset and Space for Animals. 2019 ROOF

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Zip Code: 76082

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 76082

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8791734

* 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
Goshen Creek Elementary School Primary Regular 539 32 5
Springtown Middle School Middle Regular 530 35 6
Springtown High School High Regular 912 72 5

Goshen Creek Elementary School

  • Education Level: Primary
  • # of students: 539
  • # of teachers: 32
5
GreatSchools Rating

Springtown Middle School

  • Education Level: Middle
  • # of students: 530
  • # of teachers: 35
6
GreatSchools Rating

Springtown High School

  • Education Level: High
  • # of students: 912
  • # of teachers: 72
5
GreatSchools Rating
 

$308,700$377,300$343,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,266
Property Tax -$713
Property Insurance -$168
Property Management Fees -$99
CASH FLOW
-$45

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.

$343,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$96,645

INVESTMENT

$96,645

Down Payment
$85,750
Rehab Estimate
$5,750
Closing Costs
$5,145

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,266

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,750
Loan Amount $257,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$14,297

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,635

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,495
$2,495
RENT COMPS ANALYSIS
  • 149 Mill Crossing Lane Springtown, TX 1
    • 4 beds 2 baths ∙ 2,440 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,440 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.90
    •  
  • 2048 Dash Lane Springtown, TX 2
    • 3 beds 2 baths ∙ 2,315 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,315 Sqft ∙ Built 2018
    LEASED 10/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.08
    •  
PROPERTY LISTING DETAILS
Jill Thompson
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14485600
Last Updated: 12/19/2020
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