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1502 Sir Thopas Court Abilene, TX 79602

3 Beds 2 Baths 1,323 sqft Built 1991

$182,000

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $137.57
  • 4 Days on Market
  • MLS # : 14492243
  • Updated Date : 01/01/2021 at 11:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,323 sqft
  • Baths : 2 full
Listing Agent

Remax Of Abilene

Listing Agent's Description

Well-maintained property near ACU. Split floor plan has 3 bedrooms 2 full baths and is move in ready! Located on a cul-de-sac with an inground gunite pool. 2-Car Garage with opener Security System in the home, Mature landscaping, large lot, new pool shed, pool supplies stay with the home. Wood-burning fireplace in living room, Updated backsplash and countertops in kitchen, garden bathtub and separate walk-in shower in master suite, beautiful windows & vaulted ceilings!

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

Neighborhood: South E. Highway 80

ZipNIR Market*CityMarket2010Year2005 Q3201970k80k90k100k110k120k130k140k150k160k170k180kPrice in $66k189k

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

Neighborhood: South E. Highway 80

ZipNIR Market*CityMarket2015Year20112019 Q28509009501000105011001150120012501300Rent in $8171309

* 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
Thomas Elementary School Primary Regular 551 34 6
Craig Middle School Middle Regular 911 61 4
Abilene High School High Regular 1,925 131 4

Thomas Elementary School

  • Education Level: Primary
  • # of students: 551
  • # of teachers: 34
6
GreatSchools Rating

Craig Middle School

  • Education Level: Middle
  • # of students: 911
  • # of teachers: 61
4
GreatSchools Rating

Abilene High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 131
4
GreatSchools Rating
 

$163,800$200,200$182,000

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$672
Property Tax -$392
Property Insurance -$103
Property Management Fees -$99
CASH FLOW
$25

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 18% of earned rent to cover both maintenance and periods of vacancy.

$182,000

PROJECTED PRICE

$1,290

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 4.2%
Maintenance Year (1-5) 8.00%
Vacancy 9.90%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,980

INVESTMENT

$53,980

Down Payment
$45,500
Rehab Estimate
$5,750
Closing Costs
$2,730

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$672

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $45,500
Loan Amount $136,500
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$3,851

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,283

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,1803$1,2904$1,2955$1,395
$1,395
RENT COMPS ANALYSIS
  • 1502 Sir Thopas Court Abilene, TX 3
    • 3 beds 2 baths ∙ 1,323 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,323 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $0.98
    •  
  • 750 Chaucer Drive Abilene, TX 1
    • 3 beds 2 baths ∙ 1,123 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,123 Sqft ∙ Built 1985
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $1.02
    •  
  • 1518 Seamans Way Abilene, TX 2
    • 3 beds 2 baths ∙ 1,211 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,211 Sqft ∙ Built 1984
    property image
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,180
    • $0.97
    •  
  • 826 Alisons Way Abilene, TX 4
    • 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1983
    property image
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.88
    •  
  • 1301 Seamans Way Abilene, TX 5
    • 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 1986
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.01
    •  
PROPERTY LISTING DETAILS
Paula Jones
Remax Of Abilene
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14492243
Last Updated: 01/01/2021
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