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15372 Longspur Lane Terrell, TX 75160

3 Beds 2 Baths 1,200 sqft Built 1981

$265,000

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $220.83
  • 5 Days on Market
  • MLS # : 14495411
  • Updated Date : 01/08/2021 at 08:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,200 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Property contains three (3) separate property acreages identified on the tax rolls as TaxID 8272, TaxID 8269, TaxID 194906 (acreage listed as 8.4, 7, 8 respectively) All structures on properties Sold AS-IS. Utilities are ON. CAUTION, CAUTION, CAUTION! the inside flooring is unstable & dangerous to walk on.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Zip Code: 75160

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 75160

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Dr. Bruce Wood Elementary School Primary Regular 567 37 4
Dr. Bruce Wood Elementary School Middle Regular 567 37 4
Terrell High School High Regular 1,087 79 3

Dr. Bruce Wood Elementary School

  • Education Level: Primary
  • # of students: 567
  • # of teachers: 37
4
GreatSchools Rating

Dr. Bruce Wood Elementary School

  • Education Level: Middle
  • # of students: 567
  • # of teachers: 37
4
GreatSchools Rating

Terrell High School

  • Education Level: High
  • # of students: 1,087
  • # of teachers: 79
3
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$920
Property Tax -$683
Property Insurance -$97
Property Management Fees -$99
CASH FLOW
-$429

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.

$265,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0

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$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$1

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $1,296

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,370
1$1,3702$1,500
$1,500
RENT COMPS ANALYSIS
  • 15372 Longspur Lane Terrell, TX 1
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $1.14
    •  
  • 111 Lexington Drive Terrell, TX 2
    • 3 beds 2 baths ∙ 1,391 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,391 Sqft ∙ Built 1977
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.08
    •  
PROPERTY LISTING DETAILS
Ron Combest
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14495411
Last Updated: 01/08/2021
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