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157 Cattlemans Creek West Road Newark, TX 76071

3 Beds 2 Baths 1,379 sqft Built 2021

$251,900

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $182.67
  • 4 Days on Market
  • MLS # : 14522472
  • Updated Date : 02/25/2021 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,379 sqft
  • Baths : 2 full
Listing Agent

Lgi Homes

Listing Agent's Description

The gorgeous Blanco floor plan is now available in the stunning community, Chisholm Springs. This brand-new home features an open layout, 3 bedrooms and 2 full baths complete with thousands of dollars in included upgrades. Enjoy energy-efficient appliances, granite countertops, luxury wood-style flooring, an attached two-car garage with a wi-fi-enabled opener and more. The Blanco also features a covered patio, a fully fenced backyard and a beautifully landscaped front yard.

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: 76071

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $94k243k

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

Zip Code: 76071

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8441734

* 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
Seven Hills Elementary School Primary Regular 560 37 4
Chisholm Trail Middle School Middle Regular 899 64 7
Northwest High School High Regular 2,793 170 6

Seven Hills Elementary School

  • Education Level: Primary
  • # of students: 560
  • # of teachers: 37
4
GreatSchools Rating

Chisholm Trail Middle School

  • Education Level: Middle
  • # of students: 899
  • # of teachers: 64
7
GreatSchools Rating

Northwest High School

  • Education Level: High
  • # of students: 2,793
  • # of teachers: 170
6
GreatSchools Rating
 

$226,710$277,090$251,900

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$875
Property Tax -$395
Property Insurance -$107
HOA -$37
Property Management Fees -$99
CASH FLOW
-$72

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$251,900

PROJECTED PRICE

$1,440

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 3.4%
Maintenance Year (1-5) 3.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,754

INVESTMENT

$68,754

Down Payment
$62,975
Rehab Estimate
$2,000
Closing Costs
$3,779

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$875

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,975
Loan Amount $188,925
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$7,336

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,443

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,440
1$1,4402$1,5003$1,6504$1,695
$1,695
RENT COMPS ANALYSIS
  • 157 Cattlemans Creek West Road Newark, TX 1
    • 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $1.04
    •  
  • 207 Dodge City Trail Newark, TX 2
    • 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 2011
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.13
    •  
  • 115 Bear Claw Court Newark, TX 3
    • 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 2007
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.02
    •  
  • 102 Cowpoke Court Newark, TX 4
    • 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 2010
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.99
    •  
PROPERTY LISTING DETAILS
Mona Hill
Lgi Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14522472
Last Updated: 02/25/2021
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