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1536 8th Street Argyle, TX 76226

3 Beds 2 Baths 2,376 sqft Built 2014

INVESTimate

$379,900

List Price

$2,570

$2,320 - $2,820

Rent Est.

$397,337  ( +4.59%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $159.89
  • 4 Days on Market
  • MLS # : 14419220
  • Updated Date : 08/25/2020 at 22:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,376 sqft
  • Baths : 2 full
Listing Agent

Re/max Cross Country

Listing Agent's Description

WELCOME HOME TO THIS BEAUTIFUL HIGHLAND HOME IN HARVEST OF ARGYLE. FEATURING 2 LIVING & DINING ROOMS, A STUDY, AND UPGRADES THROUGHOUT INCLUDING: HAND-SCRAPED HARDWOOD FLOORS, A BEAUTIFUL OPEN KITCHEN FEATURING DOUBLE OVENS, 42in. CABINETS, LARGE ISLAND WITH GRANITE COUNTER TOPS, BUILT-IN GLASS CABINET HUTCH & COFFEE BAR-TECH CENTER. THE SMART HOME SYSTEMS INCLUDE: SECURITY, LIGHTING, THERMOSTATS, CEILING FANS AND SPRINKLER SYSTEM. ADDITIONAL FEATURES ALSO INCLUDE: COVERED PATIO WITH POWERED SUNSHADE & GAS LINE FOR GRILL, FLAG STONE EXTENDED PATIO, AND GARAGE STORAGE CABINETS. LOCATED IN A FANTASTIC NEIGHBORHOOD WITH COMMUNITY GARDENS, COMMUNITY POOL & CLUBHOUSE, PARKS, EXCELLENT ARGYLE SCHOOLS & MUCH MORE!

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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
 

$341,910$417,890$379,900

PURCHASE PRICE

$2,313$2,827$2,570

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,570
EXPENSES Loan Payment -$1,402
Property Tax -$825
Property Insurance -$165
HOA -$92
Property Management Fees -$99
CASH FLOW
-$12

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.

$379,900

PROJECTED PRICE

$2,570

PROJECTED RENT

0.68%

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$106,424

INVESTMENT

$106,424

Down Payment
$94,975
Rehab Estimate
$5,750
Closing Costs
$5,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,402

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $94,975
Loan Amount $284,925
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$18,512

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,570

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $2,649

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,5703$2,5954$2,7005$2,800
$2,800
RENT COMPS ANALYSIS
  • 1536 8th Street Argyle, TX 2
    • 3 beds 2 baths ∙ 2,376 Sqft ∙ Built 2014 3 beds 2 baths ∙ 2,376 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,570
    • $1.08
    •  
  • 1412 Canary Lane Argyle, TX 1
    • 3 beds 2 baths ∙ 2,192 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,192 Sqft ∙ Built 2018
    property image
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.14
    •  
  • 120 Lilypad Bend Argyle, TX 3
    • 3 beds 3 baths ∙ 2,289 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,289 Sqft ∙ Built 2013
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.13
    •  
  • 709 Fenceline Drive Argyle, TX 4
    • 4 beds 3 baths ∙ 2,488 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,488 Sqft ∙ Built 2014
    property image
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.09
    •  
  • 1512 7th Street Argyle, TX 5
    • 4 beds 3 baths ∙ 2,544 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,544 Sqft ∙ Built 2014
    property image
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.10
    •  
PROPERTY LISTING DETAILS
Raisa Wilfong
Re/max Cross Country
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419220
Last Updated: 08/25/2020
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