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1504 Continental Congress Parkway Savannah, TX 76227

3 Beds 3 Baths 2,323 sqft Built 2006

$279,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $120.10
  • 3 Days on Market
  • MLS # : 14484856
  • Updated Date : 12/12/2020 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,323 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Judge Fite

Listing Agent's Description

Lovely and Updated 3br 2.5ba 2,323 SqFt home in Savannah, TX. Home is located just across the street from the Neighborhood Park and Playground. This home offers 3 living spaces which including a sunroom and a balcony with park view.

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

Neighborhood: Sea Pines Village at Savannah

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Sea Pines Village at Savannah

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Savannah Elementary School Primary Regular 640 42 6
Navo Middle School Middle Regular 1,077 65 7
Denton High School High Regular 2,166 140 6

Savannah Elementary School

  • Education Level: Primary
  • # of students: 640
  • # of teachers: 42
6
GreatSchools Rating

Navo Middle School

  • Education Level: Middle
  • # of students: 1,077
  • # of teachers: 65
7
GreatSchools Rating

Denton High School

  • Education Level: High
  • # of students: 2,166
  • # of teachers: 140
6
GreatSchools Rating
 

$251,100$306,900$279,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,029
Property Tax -$635
Property Insurance -$161
HOA -$35
Property Management Fees -$99
CASH FLOW
-$150

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$279,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,685

INVESTMENT

$79,685

Down Payment
$69,750
Rehab Estimate
$5,750
Closing Costs
$4,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,750
Loan Amount $209,250
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$4,205

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,986

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,8003$1,8104$1,9995$2,100
$2,100
RENT COMPS ANALYSIS
  • 1504 Continental Congress Parkway Savannah, TX 3
    • 3 beds 3 baths ∙ 2,323 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,323 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.78
    •  
  • 1205 Long Leaf Drive Savannah, TX 1
    • 3 beds 2 baths ∙ 2,274 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,274 Sqft ∙ Built 2006
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.78
    •  
  • 1025 Hayden Lane Savannah, TX 2
    • 3 beds 3 baths ∙ 2,323 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,323 Sqft ∙ Built 2008
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.77
    •  
  • 1009 Appalachian Lane Savannah, TX 4
    • 3 beds 3 baths ∙ 2,141 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,141 Sqft ∙ Built 2009
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.93
    •  
  • 1224 Hayden Lane Savannah, TX 5
    • 4 beds 3 baths ∙ 2,244 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,244 Sqft ∙ Built 2008
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.94
    •  
PROPERTY LISTING DETAILS
Curtis Anderson
Century 21 Judge Fite
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14484856
Last Updated: 12/12/2020
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