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154 Lipan Street Greenville, TX 75402

3 Beds 2 Baths 2,099 sqft Built 2018

INVESTimate

$269,900

List Price

$1,500

$1,350 - $1,650

Rent Est.

$291,573  ( +8.03%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $128.59
  • 5 Days on Market
  • MLS # : 14419046
  • Updated Date : 08/22/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,099 sqft
  • Baths : 2 full
Listing Agent

Jp & Associates Addison

Listing Agent's Description

This beautiful 3 bed 2 bath home that's just two years young has so many smart home features already installed that you're going to love the convenience! Alert 360 security system, digital control panel, smart thermostat, 2 HD cameras, and Ring doorbell all included! An open kitchen features granite countertops and stainless steel Frigidaire Gallery Collection appliances including the refrigerator. Incredible master suite with huge walk-in closet and lots of amenities! Decorative artisan light fixtures in the entry hall, custom faux wood blinds and crown molding. Covered deck with a misting system and small vegetable herb garden. Original covered porch converted to a bonus room or office. Wood burning fireplace

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: 75402

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $68k243k

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

Zip Code: 75402

ZipNIR Market*Market2010Year20002019 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
Bowie Elementary School Primary Regular 480 31 4
Greenville Middle School Middle Regular 687 46 5
Greenville High School High Regular 1,077 89 5

Bowie Elementary School

  • Education Level: Primary
  • # of students: 480
  • # of teachers: 31
4
GreatSchools Rating

Greenville Middle School

  • Education Level: Middle
  • # of students: 687
  • # of teachers: 46
5
GreatSchools Rating

Greenville High School

  • Education Level: High
  • # of students: 1,077
  • # of teachers: 89
5
GreatSchools Rating
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$996
Property Tax -$607
Property Insurance -$149
HOA -$5
Property Management Fees -$99
CASH FLOW
-$355

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.

$269,900

PROJECTED PRICE

$1,500

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.03%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$51

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,669

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4953$1,5004$1,6505$1,800
$1,800
RENT COMPS ANALYSIS
  • 154 Lipan Street Greenville, TX 3
    • 3 beds 2 baths ∙ 2,099 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,099 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.71
    •  
  • 1106 Wolverine Lane Greenville, TX 1
    • 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 2009
    property image
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.79
    •  
  • 139 Toma Hawk Drive Greenville, TX 2
    • 4 beds 2 baths ∙ 2,082 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,082 Sqft ∙ Built 2004
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.72
    •  
  • 1116 Colony Drive Greenville, TX 4
    • 4 beds 2 baths ∙ 1,981 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,981 Sqft ∙ Built 2015
    property image
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.83
    •  
  • 610 Alderwood Court Greenville, TX 5
    • 4 beds 3 baths ∙ 2,138 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,138 Sqft ∙ Built 2017
    property image
    LEASED 01/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.84
    •  
PROPERTY LISTING DETAILS
Patrice Salazar
Jp & Associates Addison
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419046
Last Updated: 08/22/2020
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