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1508 Stallion Drive Weatherford, TX 76087

3 Beds 2 Baths 2,003 sqft Built 2020

$318,050

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $158.79
  • 1 Days on Market
  • MLS # : 14488876
  • Updated Date : 12/19/2020 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,003 sqft
  • Baths : 2 full
Listing Agent

Ntex Realty, Lp

Listing Agent's Description

This 3-bedroom, 2-bathroom home has a galley feel with an open floor plan. The flex room in the front of the home can be easily utilized as another bedroom if needed or a den for reading and relaxing. Through the kitchen, you’ll find the cabinets open to the dining and living rooms at the heart of the home. To the right of the dining room lies the 2-bedroom wing. The owner’s suite is nicely situated in the back corner with its own hallway to create the feel of your own private getaway. The unique layout of this home gives you the chance to do something different than all your friends while still providing a comfortable space to live and entertain.

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

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $104k342k

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

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11212171

* 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
Mary Martin Elementary School Primary Regular 590 34 5
Mary Martin Elementary School Middle Regular 590 34 5
Weatherford High School High Regular 2,238 148 6

Mary Martin Elementary School

  • Education Level: Primary
  • # of students: 590
  • # of teachers: 34
5
GreatSchools Rating

Mary Martin Elementary School

  • Education Level: Middle
  • # of students: 590
  • # of teachers: 34
5
GreatSchools Rating

Weatherford High School

  • Education Level: High
  • # of students: 2,238
  • # of teachers: 148
6
GreatSchools Rating
 

$286,245$349,855$318,050

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,173
Property Tax -$677
Property Insurance -$143
HOA -$67
Property Management Fees -$99
CASH FLOW
-$329

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$318,050

PROJECTED PRICE

$1,830

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,283

INVESTMENT

$86,283

Down Payment
$79,513
Rehab Estimate
$2,000
Closing Costs
$4,771

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,173

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,513
Loan Amount $238,538
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$643

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,853

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8303$1,9254$2,0505$2,075
$2,075
RENT COMPS ANALYSIS
  • 1508 Stallion Drive Weatherford, TX 2
    • 3 beds 2 baths ∙ 2,003 Sqft ∙ Built 2020 3 beds 2 baths ∙ 2,003 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.91
    •  
  • 102 Cynthia Lane Weatherford, TX 1
    • 4 beds 2 baths ∙ 1,763 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,763 Sqft ∙ Built 2002
    property image
    LEASED 08/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.96
    •  
  • 612 Sage Brush Drive Weatherford, TX 3
    • 3 beds 3 baths ∙ 2,201 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,201 Sqft ∙ Built 2005
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.87
    •  
  • 2222 Old Foundry Road Weatherford, TX 4
    • 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 2003
    property image
    LEASED 09/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.92
    •  
  • 1649 Signature Drive Weatherford, TX 5
    • 3 beds 2 baths ∙ 2,176 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,176 Sqft ∙ Built 2018
    property image
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.95
    •  
PROPERTY LISTING DETAILS
Clinton Shipley
Ntex Realty, Lp
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14488876
Last Updated: 12/19/2020
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