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1503 County Road 447 Princeton, TX 75407

3 Beds 2 Baths 1,946 sqft Built 1989

$275,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $141.32
  • 3 Days on Market
  • MLS # : 14512582
  • Updated Date : 02/04/2021 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,946 sqft
  • Baths : 2 full
Listing Agent

Simply Texas Real Estate, Llc

Listing Agent's Description

Welcome home to Highland Creek Estates! Single story set on one acre, feel like you are out in the country while enjoying access to major roads, shopping and dining. Plenty of updates include new appliances in 2019, a new roof in 2018, septic pipes in 2018, water heater in 2017 and AC in 2015. Foundation was repaired in 2020 and has a lifetime transferable warranty. Kitchen features stainless steel appliances including a range~oven with smooth cooktop, and a built in desk area. Master bath features a jetted tub, separate shower and dual sinks. Living room features a fireplace, perfect for chilly nights. Front porch and back patio are the perfect spots to enjoy a cup of coffee and enjoy the country feel!

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
Harper Elementary School Primary Regular 549 36 6
Clark Junior High School Middle Regular 540 33 8
Princeton High School High Regular 1,048 67 6

Harper Elementary School

  • Education Level: Primary
  • # of students: 549
  • # of teachers: 36
6
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
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$955
Property Tax -$573
Property Insurance -$140
Property Management Fees -$99
CASH FLOW
-$187

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.

$275,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.57%

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-$6.0k-$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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$2,121

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,712

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5493$1,5804$1,5995$1,600
$1,600
RENT COMPS ANALYSIS
  • 1503 County Road 447 Princeton, TX 3
    • 3 beds 2 baths ∙ 1,946 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,946 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.81
    •  
  • 105 Caldwell Street Princeton, TX 1
    • 3 beds 3 baths ∙ 1,922 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,922 Sqft ∙ Built 1974
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.78
    •  
  • 321 Peachtree Lane Princeton, TX 2
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1997
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $0.89
    •  
  • 212 Creekwood Drive Princeton, TX 4
    • 3 beds 2 baths ∙ 1,666 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,666 Sqft ∙ Built 2006
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.96
    •  
  • 208 Creekwood Drive Princeton, TX 5
    • 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 2006
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.89
    •  
PROPERTY LISTING DETAILS
Kristen Robinson
Simply Texas Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14512582
Last Updated: 02/04/2021
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