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153 Spring Hollow Drive Saginaw, TX 76131

3 Beds 2 Baths 1,859 sqft Built 2014

$247,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $132.87
  • 3 Days on Market
  • MLS # : 14466924
  • Updated Date : 11/07/2020 at 13:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,859 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

This home is so stinkin' cute! The Owner has loved on this home like no other from the custom barn door across the formal dining room to the smart home door locks and smart thermostat. You must see this home for yourself

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: Spring Creek Saginaw

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $109k243k

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

Neighborhood: Spring Creek Saginaw

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100115012001250130013501400145015001550160016501700Rent in $10661734

* 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
High Country Elementary School Primary Regular 633 35 6
Prairie Vista Middle School Middle Regular 866 53 5
Saginaw High School High Regular 1,785 113 6

High Country Elementary School

  • Education Level: Primary
  • # of students: 633
  • # of teachers: 35
6
GreatSchools Rating

Prairie Vista Middle School

  • Education Level: Middle
  • # of students: 866
  • # of teachers: 53
5
GreatSchools Rating

Saginaw High School

  • Education Level: High
  • # of students: 1,785
  • # of teachers: 113
6
GreatSchools Rating
 

$222,300$271,700$247,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$911
Property Tax -$536
Property Insurance -$135
HOA -$25
Property Management Fees -$99
CASH FLOW
-$136

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.

$247,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.6%
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-$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$71,205

INVESTMENT

$71,205

Down Payment
$61,750
Rehab Estimate
$5,750
Closing Costs
$3,705

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$911

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,750
Loan Amount $185,250
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$3,936

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,752

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,570
1$1,5702$1,6953$1,6954$1,7495$1,750
$1,750
RENT COMPS ANALYSIS
  • 153 Spring Hollow Drive Saginaw, TX 1
    • 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.84
    •  
  • 308 Marsha Street Saginaw, TX 2
    • 4 beds 2 baths ∙ 1,866 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,866 Sqft ∙ Built 1999
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.91
    •  
  • 736 Cardinal Drive Saginaw, TX 3
    • 3 beds 2 baths ∙ 1,804 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,804 Sqft ∙ Built 2001
    property image
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.94
    •  
  • 436 Spring Drive Saginaw, TX 4
    • 4 beds 2 baths ∙ 1,833 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,833 Sqft ∙ Built 2017
    property image
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $0.95
    •  
  • 453 Spring Drive Saginaw, TX 5
    • 4 beds 2 baths ∙ 1,813 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,813 Sqft ∙ Built 2017
    property image
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
PROPERTY LISTING DETAILS
Liz Longoria
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466924
Last Updated: 11/07/2020
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