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1506 Hyde Park Boulevard Cleburne, TX 76033

3 Beds 2 Baths 1,624 sqft Built 1996

$217,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $133.62
  • 2 Days on Market
  • MLS # : 14495047
  • Updated Date : 01/09/2021 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,624 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Well maintained 3-2-2 in a great location. Open floor plan, split bedrooms, kitchen island, free standing electric range, bay window in dining area, WBFP, crown molding, carpet updated. Covered patio, 2 storage buildings, one has electricity with small window unit, perfect for workshop.

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: Winchester

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $93k243k

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

Neighborhood: Winchester

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9011734

* 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
Gerard Elementary School Primary Regular 531 31 5
Smith Middle School Middle Regular 775 53 4
Cleburne High School High Regular 1,653 110 4

Gerard Elementary School

  • Education Level: Primary
  • # of students: 531
  • # of teachers: 31
5
GreatSchools Rating

Smith Middle School

  • Education Level: Middle
  • # of students: 775
  • # of teachers: 53
4
GreatSchools Rating

Cleburne High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 110
4
GreatSchools Rating
 

$195,300$238,700$217,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$754
Property Tax -$534
Property Insurance -$121
Property Management Fees -$99
CASH FLOW
$142

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.

$217,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.8%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$63,255

INVESTMENT

$63,255

Down Payment
$54,250
Rehab Estimate
$5,750
Closing Costs
$3,255

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$754

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $54,250
Loan Amount $162,750
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$20,296

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,324

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5003$1,650
$1,650
RENT COMPS ANALYSIS
  • 1506 Hyde Park Boulevard Cleburne, TX 3
    • 3 beds 2 baths ∙ 1,624 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,624 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.02
    •  
  • 1510 Surry Place Drive Cleburne, TX 1
    • 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 1980
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.80
    •  
  • 304 Westmeadow Drive Cleburne, TX 2
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1982
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.83
    •  
PROPERTY LISTING DETAILS
Linda Christensen
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14495047
Last Updated: 01/09/2021
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