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1603 Stone Court Keller, TX 76248

5 Beds 3 Baths 3,623 sqft Built 1997

INVESTimate

$475,000

List Price

$3,200

$2,950 - $3,450

Rent Est.

$501,315  ( +5.54%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $131.11
  • 7 Days on Market
  • MLS # : 14413971
  • Updated Date : 08/24/2020 at 16:33
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,623 sqft
  • Baths : 3 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Gorgeous property in cul-de-sac with sparkling pool and excellent outdoor entertaining area! Covered patio with plenty of room, side entry garage and extra space for parking. Mature trees with lots of privacy and lush landscaping throughout. This home features a spacious floor plan with formal dining room, study and private bedroom and full bathroom downstairs. Master suite is upstairs with large bath, separate shower and huge walk-in closet. Updated carpet, paint, floors. Brand new roof! Excellent quiet community close to Sky Creek Ranch Golf Course!

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

Neighborhood: The Meadows at Bear Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k413k

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

Neighborhood: The Meadows at Bear Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262997

* 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
Florence Elementary School Primary Regular 500 35 10
Bear Creek Intermediate School Middle Regular 781 42 9
Keller High School High Regular 2,645 145 10

Florence Elementary School

  • Education Level: Primary
  • # of students: 500
  • # of teachers: 35
10
GreatSchools Rating

Bear Creek Intermediate School

  • Education Level: Middle
  • # of students: 781
  • # of teachers: 42
9
GreatSchools Rating

Keller High School

  • Education Level: High
  • # of students: 2,645
  • # of teachers: 145
10
GreatSchools Rating
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,880$3,520$3,200

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,200
EXPENSES Loan Payment -$1,753
Property Tax -$997
Property Insurance -$237
HOA -$20
Property Management Fees -$99
CASH FLOW
$95

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.

$475,000

PROJECTED PRICE

$3,200

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.54%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$34,011

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,200

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $3,360

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,995
1$2,9952$3,2003$3,3954$3,4005$3,600
$3,600
RENT COMPS ANALYSIS
  • 1603 Stone Court Keller, TX 2
    • 5 beds 3 baths ∙ 3,623 Sqft ∙ Built 1997 5 beds 3 baths ∙ 3,623 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.88
    •  
  • 1505 Sagebrush Trail Keller, TX 1
    • 4 beds 4 baths ∙ 3,591 Sqft ∙ Built 2011 4 beds 4 baths ∙ 3,591 Sqft ∙ Built 2011
    property image
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.83
    •  
  • 1620 Lost Lake Drive Keller, TX 3
    • 4 beds 3 baths ∙ 3,791 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,791 Sqft ∙ Built 2003
    property image
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,395
    • $0.90
    •  
  • 2207 Bayou Court Keller, TX 4
    • 4 beds 4 baths ∙ 3,538 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,538 Sqft ∙ Built 2000
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $0.96
    •  
  • 220 Huffman Bluff Keller, TX 5
    • 4 beds 3 baths ∙ 3,529 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,529 Sqft ∙ Built 2005
    property image
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.02
    •  
PROPERTY LISTING DETAILS
Irina Sanders
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14413971
Last Updated: 08/24/2020
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