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1501 Granite Path Princeton, TX 75407

4 Beds 3 Baths 2,147 sqft Built 2017

$264,900

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $123.38
  • 4 Days on Market
  • MLS # : 14496016
  • Updated Date : 01/08/2021 at 03:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,147 sqft
  • Baths : 2 full , 1 half
Listing Agent

C21 Fine Homes Judge Fite

Listing Agent's Description

Beautiful home in The Trails at Riverstone. Convenient location off of Hwy 380 in Princeton. Excellent floor plan with master suite and half bath downstairs; 3 bedrooms and a bath upstairs. Features include covered front patio, sprinkler and security systems, ceramic tile flooring, recessed can lighting throughout, ceiling fans, separate utility room, accent paint, walk out attic, stamped concrete patio, smart thermostats. Spacious downstairs master suite has a large walk in closet. Kitchen has stained cabinetry, ample counter space, stainless steel appliances, eating area, and granite countertops. Washer, dryer and kitchen refrigerator remain with property! Walk to community pool, jogging trail and playground.

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: 75407

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $114k243k

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

Zip Code: 75407

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8671734

* 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
Smith Elementary School Primary Regular NA
Clark Junior High School Middle Regular 540 33 8
Princeton High School High Regular 1,048 67 6

Smith Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Clark Junior High School

  • Education Level: Middle
  • # of students: 540
  • # of teachers: 33
8
GreatSchools Rating

Princeton High School

  • Education Level: High
  • # of students: 1,048
  • # of teachers: 67
6
GreatSchools Rating
 

$238,410$291,390$264,900

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$920
Property Tax -$552
Property Insurance -$151
HOA -$38
Property Management Fees -$99
CASH FLOW
-$10

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.

$264,900

PROJECTED PRICE

$1,750

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,949

INVESTMENT

$75,949

Down Payment
$66,225
Rehab Estimate
$5,750
Closing Costs
$3,974

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,225
Loan Amount $198,675
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$10,360

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,846

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7503$1,8004$1,8005$1,888
$1,888
RENT COMPS ANALYSIS
  • 1501 Granite Path Princeton, TX 2
    • 4 beds 3 baths ∙ 2,147 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,147 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.82
    •  
  • 1100 Grace Drive Princeton, TX 1
    • 4 beds 2 baths ∙ 1,948 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,948 Sqft ∙ Built 2005
    property image
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.82
    •  
  • 1405 Granite Path Princeton, TX 3
    • 4 beds 3 baths ∙ 2,147 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,147 Sqft ∙ Built 2017
    property image
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.84
    •  
  • 1500 Copper Street Princeton, TX 4
    • 4 beds 2 baths ∙ 2,089 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,089 Sqft ∙ Built 2017
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.86
    •  
  • 916 Opal Path Princeton, TX 5
    • 5 beds 2 baths ∙ 2,053 Sqft ∙ Built 2018 5 beds 2 baths ∙ 2,053 Sqft ∙ Built 2018
    property image
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,888
    • $0.92
    •  
PROPERTY LISTING DETAILS
Tom Robertson
C21 Fine Homes Judge Fite
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14496016
Last Updated: 01/08/2021
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