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1517 8th Street Argyle, TX 76226

4 Beds 3 Baths 3,267 sqft Built 2015

INVESTimate

$429,900

List Price

$3,200

$2,950 - $3,450

Rent Est.

$449,632  ( +4.59%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $131.59
  • 7 Days on Market
  • MLS # : 14417276
  • Updated Date : 08/20/2020 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,267 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Impeccably kept home in highly desirable Argyle schools. Great floor plan designed with the family in mind. Upstairs has two bedrooms, large game room and media room...perfect for the kids or entertaining friends. In a very open and airy concept, the large 2 story entry leads you to an office with French glass doors, large great room, dining room, and the gourmet over-sized kitchen with a large island work station. The master suite is exquisite, and the master bath has everything to relax including a generously sized walk in closet, spacious shower, and garden tub. Two large walk-in attic storage areas and one could be finished out for another bedroom. Large covered patio for evenings outside.

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
Argyle Intermediate School Primary Regular 295 17 8
Argyle Intermediate School Middle Regular 295 17 8
Argyle High School High Regular 711 50 8

Argyle Intermediate School

  • Education Level: Primary
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle Intermediate School

  • Education Level: Middle
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle High School

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

$386,910$472,890$429,900

PURCHASE PRICE

$2,880$3,520$3,200

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,200
EXPENSES Loan Payment -$1,586
Property Tax -$1,027
Property Insurance -$216
HOA -$92
Property Management Fees -$99
CASH FLOW
$180

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.

$429,900

PROJECTED PRICE

$3,200

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.59%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,674

INVESTMENT

$119,674

Down Payment
$107,475
Rehab Estimate
$5,750
Closing Costs
$6,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,586

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,475
Loan Amount $322,425
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$37,463

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,200

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $3,455

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,2003$3,2754$3,6505$3,750
$3,750
RENT COMPS ANALYSIS
  • 1517 8th Street Argyle, TX 2
    • 4 beds 3 baths ∙ 3,267 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,267 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.98
    •  
  • 213 Lilypad Bend Argyle, TX 1
    • 4 beds 3 baths ∙ 3,260 Sqft ∙ Built 2014 4 beds 3 baths ∙ 3,260 Sqft ∙ Built 2014
    LEASED 09/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.98
    •  
  • 224 Lilypad Bend Argyle, TX 3
    • 5 beds 4 baths ∙ 3,240 Sqft ∙ Built 2013 5 beds 4 baths ∙ 3,240 Sqft ∙ Built 2013
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,275
    • $1.01
    •  
  • 1201 9th Street Argyle, TX 4
    • 4 beds 4 baths ∙ 3,284 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,284 Sqft ∙ Built 2017
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $1.11
    •  
  • 720 Sunflower Avenue Argyle, TX 5
    • 4 beds 3 baths ∙ 3,307 Sqft ∙ Built 2019 4 beds 3 baths ∙ 3,307 Sqft ∙ Built 2019
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $1.13
    •  
PROPERTY LISTING DETAILS
Greg Cagle
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417276
Last Updated: 08/20/2020
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