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1604 Settlement Way Aubrey, TX 76227

4 Beds 4 Baths 3,695 sqft Built 2016

$399,000

List Price

$2,740

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $107.98
  • 1 Days on Market
  • MLS # : 14532599
  • Updated Date : 03/13/2021 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,695 sqft
  • Baths : 3 full , 1 half
Listing Agent

Ultima Real Estate

Listing Agent's Description

Need space? Look no further! This home boasts just under 3700sq feet of finished living space and priced as the least expensive in all of Aubrey for it's size category! Also has a bonus insulated space perfect for a gym, dance studio, or man cave. Home office located at the front of the home with lots of natural light. Main bedroom on 1st level has an ensuite and large master walk-in closet. The 2 story living room with stone fireplace opens to the upgraded kitchen with bright white backsplash. 2nd floor has 3 bedrooms, 2 full baths, separate media & game room that overlooks 1st level. The upstairs has 3rd living area perfect for a kid's homeschool or homework area.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Zip Code: 76227

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $117k336k

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

Zip Code: 76227

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Savannah Elementary School Primary Regular 640 42 6
Navo Middle School Middle Regular 1,077 65 7
Denton High School High Regular 2,166 140 6

Savannah Elementary School

  • Education Level: Primary
  • # of students: 640
  • # of teachers: 42
6
GreatSchools Rating

Navo Middle School

  • Education Level: Middle
  • # of students: 1,077
  • # of teachers: 65
7
GreatSchools Rating

Denton High School

  • Education Level: High
  • # of students: 2,166
  • # of teachers: 140
6
GreatSchools Rating
 

$359,100$438,900$399,000

PURCHASE PRICE

$2,466$3,014$2,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,740
EXPENSES Loan Payment -$1,386
Property Tax -$908
Property Insurance -$241
HOA -$65
Property Management Fees -$99
CASH FLOW
$41

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.

$399,000

PROJECTED PRICE

$2,740

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,386

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$18,434

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,740

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,965

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,6953$2,6954$2,7405$3,100
$3,100
RENT COMPS ANALYSIS
  • 1604 Settlement Way Aubrey, TX 4
    • 4 beds 4 baths ∙ 3,695 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,695 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,740
    • $0.74
    •  
  • 1617 Settlement Way Aubrey, TX 1
    • 4 beds 3 baths ∙ 3,362 Sqft ∙ Built 2016 4 beds 3 baths ∙ 3,362 Sqft ∙ Built 2016
    property image
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.74
    •  
  • 1936 Tomahawk Trail Aubrey, TX 2
    • 4 beds 4 baths ∙ 3,502 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,502 Sqft ∙ Built 2020
    property image
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.77
    •  
  • 1505 Wright Street Aubrey, TX 3
    • 5 beds 3 baths ∙ 3,430 Sqft ∙ Built 2016 5 beds 3 baths ∙ 3,430 Sqft ∙ Built 2016
    property image
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.79
    •  
  • 1804 Settlement Way Aubrey, TX 5
    • 5 beds 4 baths ∙ 3,404 Sqft ∙ Built 2016 5 beds 4 baths ∙ 3,404 Sqft ∙ Built 2016
    property image
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.91
    •  
PROPERTY LISTING DETAILS
Meme Bennett
Ultima Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14532599
Last Updated: 03/13/2021
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