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14925 Lost Wagon Street New Fairview, TX 76247

3 Beds 3 Baths 2,943 sqft Built 2021

$490,000

List Price

$2,410

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $166.50
  • 5 Days on Market
  • MLS # : 14516826
  • Updated Date : 02/13/2021 at 14:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,943 sqft
  • Baths : 3 full
Listing Agent

Living Real Estate Group

Listing Agent's Description

*INCOMPLETE CONSTRUCTION - ANTICIPATED LATE MARCH to EARLY APRIL COMPLETION* Expansive floor plan designed for everyday living! Luxury wood floors in entry, living, kitchen, dining, study, and downstairs halls. Gorgeous kitchen with oversized Island, stainless appliances, designer lighting and quartz countertops!! Oversized Game Room with full bath upstairs, smart home features, landscape and irrigation.

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: 76247

ZipNIR Market*Market2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 76247

ZipNIR Market*Market2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10532171

* 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
Justin Elementary School Primary Regular 506 33 5
Gene Pike Middle School Middle Regular 743 53 7
Northwest High School High Regular 2,793 170 6

Justin Elementary School

  • Education Level: Primary
  • # of students: 506
  • # of teachers: 33
5
GreatSchools Rating

Gene Pike Middle School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 53
7
GreatSchools Rating

Northwest High School

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

$441,000$539,000$490,000

PURCHASE PRICE

$2,169$2,651$2,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,410
EXPENSES Loan Payment -$1,702
Property Tax -$1,021
Property Insurance -$197
HOA -$42
Property Management Fees -$99
CASH FLOW
-$651

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$490,000

PROJECTED PRICE

$2,410

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.7%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,850

INVESTMENT

$131,850

Down Payment
$122,500
Rehab Estimate
$2,000
Closing Costs
$7,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,702

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $122,500
Loan Amount $367,500
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$26

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,410

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,472

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,410
$2,410
RENT COMPS ANALYSIS
  • 14925 Lost Wagon Street New Fairview, TX 2
    • 3 beds 3 baths ∙ 2,943 Sqft ∙ Built 2021 3 beds 3 baths ∙ 2,943 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,410
    • $0.82
    •  
  • 15009 Lost Wagon Street New Fairview, TX 1
    • 4 beds 3 baths ∙ 2,811 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,811 Sqft ∙ Built 2020
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.84
    •  
PROPERTY LISTING DETAILS
Carson Snyder
Living Real Estate Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14516826
Last Updated: 02/13/2021
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