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1513 17th Street Argyle, TX 76226

4 Beds 5 Baths 3,795 sqft Built 2020

$579,418

List Price

$3,290

$3K - $3.5K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
February 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $152.68
  • 7 Days on Market
  • MLS # : 14515023
  • Updated Date : 02/08/2021 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,795 sqft
  • Baths : 4 full , 1 half
Listing Agent

David M. Weekley

Listing Agent's Description

This new David Weekley Home! Ask about our 1-2-10 year warranty and save big with our Energy Saver Program!

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

Zip Code: 76226

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k417k

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

Zip Code: 76226

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262773

* 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
Hilltop Elementary School Primary Regular 710 47 7
Argyle Middle School Middle Regular 347 21 7
Argyle High School High Regular 711 50 8

Hilltop Elementary School

  • Education Level: Primary
  • # of students: 710
  • # of teachers: 47
7
GreatSchools Rating

Argyle Middle School

  • Education Level: Middle
  • # of students: 347
  • # of teachers: 21
7
GreatSchools Rating

Argyle High School

  • Education Level: High
  • # of students: 711
  • # of teachers: 50
8
GreatSchools Rating
 

$521,476$637,360$579,418

PURCHASE PRICE

$2,961$3,619$3,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,290
EXPENSES Loan Payment -$2,013
Property Tax -$1,152
Property Insurance -$246
HOA -$92
Property Management Fees -$99
CASH FLOW
-$312

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.

$579,418

PROJECTED PRICE

$3,290

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.6%
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$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$155,546

INVESTMENT

$155,546

Down Payment
$144,855
Rehab Estimate
$2,000
Closing Costs
$8,691

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,013

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $144,855
Loan Amount $434,564
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$6,451

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,290

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $3,795

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$3,290
1$3,2902$3,650
$3,650
RENT COMPS ANALYSIS
  • 1513 17th Street Argyle, TX 1
    • 4 beds 5 baths ∙ 3,795 Sqft ∙ Built 2020 4 beds 5 baths ∙ 3,795 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $3,290
    • $0.87
    •  
  • 321 Ellison Trace Argyle, TX 2
    • 4 beds 4 baths ∙ 3,641 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,641 Sqft ∙ Built 2014
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $1.00
    •  
PROPERTY LISTING DETAILS
Jimmy Rado
David M. Weekley
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14515023
Last Updated: 02/08/2021
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