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1537 Millennium Drive Crowley, TX 76036

3 Beds 2 Baths 1,917 sqft Built 2018

$255,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $133.02
  • 2 Days on Market
  • MLS # : 14505382
  • Updated Date : 01/23/2021 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,917 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

LOVELY 3 BEDROOM HOME* LARGE FAMILY ROOM WITH WINDOWS OVERLOOKING THE LARGE BACKYARD* KITCHEN FEATURES LOTS OF CABINETS AND GRANITE COUNTERTOPS GREAT FOR ANY COOK*OFF THE KITCHEN IS THE DINING AREA WITH A BAY WINDOW AND ENOUGH SPACE TO ACCOMADATE LARGE DINING TABLE*SECONDARY BEDROOMS HAVE AN ABUNDANCE OF SPACE AND AMPLE CLOSETS*THE MASTER SUITE HAS 2 WALK IN CLOSETS, GREAT SOAKING TUB AND SEPARATE SHOWER*COME BUY THIS ONE TODAY!!!

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MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Zip Code: 76036

ZipNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240kPrice in $122k243k

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

Zip Code: 76036

ZipNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* 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
S.h. Crowley Intermediate School Primary Regular 456 26 4
S.h. Crowley Intermediate School Middle Regular 456 26 4
Crowley High School High Regular 2,033 150 4

S.h. Crowley Intermediate School

  • Education Level: Primary
  • # of students: 456
  • # of teachers: 26
4
GreatSchools Rating

S.h. Crowley Intermediate School

  • Education Level: Middle
  • # of students: 456
  • # of teachers: 26
4
GreatSchools Rating

Crowley High School

  • Education Level: High
  • # of students: 2,033
  • # of teachers: 150
4
GreatSchools Rating
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$886
Property Tax -$632
Property Insurance -$138
HOA -$30
Property Management Fees -$99
CASH FLOW
-$35

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.

$255,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.5%
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$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$7,668

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,764

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6503$1,7504$1,7955$1,800
$1,800
RENT COMPS ANALYSIS
  • 1537 Millennium Drive Crowley, TX 3
    • 3 beds 2 baths ∙ 1,917 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,917 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.91
    •  
  • 1100 Boxwood Drive Crowley, TX 1
    • 3 beds 3 baths ∙ 1,784 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,784 Sqft ∙ Built 2006
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.89
    •  
  • 13608 Founders Lane Crowley, TX 2
    • 3 beds 2 baths ∙ 1,739 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,739 Sqft ∙ Built 2017
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.95
    •  
  • 13612 Helix Bridge Way Crowley, TX 4
    • 3 beds 2 baths ∙ 1,925 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,925 Sqft ∙ Built 2016
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.93
    •  
  • 1112 Switchgrass Lane Crowley, TX 5
    • 4 beds 2 baths ∙ 1,988 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,988 Sqft ∙ Built 2006
    LEASED 05/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.91
    •  
PROPERTY LISTING DETAILS
Kelli Wooden
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14505382
Last Updated: 01/23/2021
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