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155 Prairie Ridge Drive Aledo, TX 76008

5 Beds 3 Baths 2,730 sqft Built 2004

$399,999

List Price

$2,660

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $146.52
  • 4 Days on Market
  • MLS # : 14517057
  • Updated Date : 02/12/2021 at 19:05
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,730 sqft
  • Baths : 3 full
Listing Agent

Ready Real Estate

Listing Agent's Description

Exceptional Opportunity in the Award Winning Aledo ISD. Located in the gated community of Prairie Ridge, this home has the space you need at the price you can afford. Hill country feel complete with large front porch. Features include 5 bedrooms, 3 baths, 2 living areas, office, formal dining on 1 acre. Kitchen has granite counter tops, pantry, breakfast bar & fridge stays. Master bedroom has gorgeous, fully remodeled master bathroom with large walk in closet. 2 secondary bedrooms are downstairs with new carpet! Upstairs you will find a large bonus room, full bath & 2 other large bedrooms. Large fenced backyard with covered back patio. New Roof! Easy access to I20! This could be the home of your dreams!

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: 76008

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k393k

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

Zip Code: 76008

ZipNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262811

* 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
Coder Elementary School Primary Regular 425 27 7
Aledo Middle School Middle Regular 804 47 9
Aledo High School High Regular 1,193 72 7

Coder Elementary School

  • Education Level: Primary
  • # of students: 425
  • # of teachers: 27
7
GreatSchools Rating

Aledo Middle School

  • Education Level: Middle
  • # of students: 804
  • # of teachers: 47
9
GreatSchools Rating

Aledo High School

  • Education Level: High
  • # of students: 1,193
  • # of teachers: 72
7
GreatSchools Rating
 

$359,999$439,999$399,999

PURCHASE PRICE

$2,394$2,926$2,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,660
EXPENSES Loan Payment -$1,389
Property Tax -$896
Property Insurance -$185
HOA -$63
Property Management Fees -$99
CASH FLOW
$28

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.

$399,999

PROJECTED PRICE

$2,660

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $299,999
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$18,242

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,660

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,566

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,199
1$2,1992$2,5003$2,660
$2,660
RENT COMPS ANALYSIS
  • 155 Prairie Ridge Drive Aledo, TX 3
    • 5 beds 3 baths ∙ 2,730 Sqft ∙ Built 2004 5 beds 3 baths ∙ 2,730 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,660
    • $0.97
    •  
  • 114 Muirfield Drive Willow Park, TX 1
    • 4 beds 3 baths ∙ 2,440 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,440 Sqft ∙ Built 2006
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,199
    • $0.90
    •  
  • 713 Westgate Drive Aledo, TX 2
    • 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 2015
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.98
    •  
PROPERTY LISTING DETAILS
Breezie Smades
Ready Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14517057
Last Updated: 02/12/2021
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