Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1501 Meadow Creek Drive Princeton, TX 75407

4 Beds 2 Baths 1,705 sqft Built 2016

$269,900

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $158.30
  • 3 Days on Market
  • MLS # : 14513582
  • Updated Date : 02/06/2021 at 10:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,705 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty Frisco

Listing Agent's Description

One of a kind for Abbey Crossing! SOLAR POWER and WATER PURIFICATION SYSTEM!! Over $20k spent on solar and water purification system! Low to no electric bills and extremely good water!! 1 story 4BR 2BA with all kinds of goodies! Updated lighting, granite, frig included, vinyl plank flooring, and a huge master retreat! Master bath completely remodeled with custom Roman tub, vanities and mirrors. Covered patio! Landscaped with 8 feet fence down the side of home, flower and garden beds, covered patio, gutters with rain catchers. Get off the grid with this SUPER energy efficient home!! Will not last long!!

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: 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
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$937
Property Tax -$562
Property Insurance -$126
HOA -$25
Property Management Fees -$99
CASH FLOW
-$110

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.

$269,900

PROJECTED PRICE

$1,640

PROJECTED RENT

0.61%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

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$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$937

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$4,963

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,705

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,640
1$1,6402$1,6503$1,7004$1,7005$1,750
$1,750
RENT COMPS ANALYSIS
  • 1501 Meadow Creek Drive Princeton, TX 1
    • 4 beds 2 baths ∙ 1,705 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,705 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.96
    •  
  • 1428 Meadow Creek Drive Princeton, TX 2
    • 4 beds 2 baths ∙ 1,705 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,705 Sqft ∙ Built 2015
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.97
    •  
  • 1512 Wild Rye Circle Princeton, TX 3
    • 4 beds 2 baths ∙ 1,834 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,834 Sqft ∙ Built 2016
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.93
    •  
  • 2137 Meadow Park Drive Princeton, TX 4
    • 4 beds 2 baths ∙ 1,698 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,698 Sqft ∙ Built 2015
    property image
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.00
    •  
  • 1502 Meadow Creek Drive Princeton, TX 5
    • 4 beds 2 baths ∙ 1,590 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,590 Sqft ∙ Built 2016
    property image
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.10
    •  
PROPERTY LISTING DETAILS
Benny Dinsmore
Coldwell Banker Realty Frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14513582
Last Updated: 02/06/2021
BESbswy