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1613 Meadowview Drive Corinth, TX 76210

5 Beds 3 Baths 3,124 sqft Built 1999

$374,900

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $120.01
  • 2 Days on Market
  • MLS # : 14504373
  • Updated Date : 01/30/2021 at 21:04
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,124 sqft
  • Baths : 3 full
Listing Agent

Re/max Cross Country

Listing Agent's Description

Immaculately Maintained One-Owner Dream Home! This versatile floor-plan fits every lifestyle has 5 or 6 bedrooms! You will notice the meticulous care and maintenance the moment you enter the front door. No shoes allowed ever! This 5 to 6 bedroom floor-plan features the master suite on the second level but also includes a 5th bedroom and full bath with private living space on the first level. This does not take away from two other living areas on the first level. Proper maintenance and beautiful updates show off inside and out including beautiful landscaping, fresh paint, new fixtures, an extended patio, and a private backyard. You will not find a home that has been more loved than this!

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: Cypress Point Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Cypress Point Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9192171

* 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
Hawk Elementary School Primary Regular 726 46 8
Crownover Middle School Middle Regular 938 59 8
John H. Guyer High School High Regular 2,395 162 8

Hawk Elementary School

  • Education Level: Primary
  • # of students: 726
  • # of teachers: 46
8
GreatSchools Rating

Crownover Middle School

  • Education Level: Middle
  • # of students: 938
  • # of teachers: 59
8
GreatSchools Rating

John H. Guyer High School

  • Education Level: High
  • # of students: 2,395
  • # of teachers: 162
8
GreatSchools Rating
 

$337,410$412,390$374,900

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,302
Property Tax -$758
Property Insurance -$208
Property Management Fees -$99
CASH FLOW
-$67

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.

$374,900

PROJECTED PRICE

$2,300

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.4%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$105,099

INVESTMENT

$105,099

Down Payment
$93,725
Rehab Estimate
$5,750
Closing Costs
$5,624

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,302

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,725
Loan Amount $281,175
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$11,732

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,523

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,145
1$2,1452$2,3003$2,5004$2,5005$2,700
$2,700
RENT COMPS ANALYSIS
  • 1613 Meadowview Drive Corinth, TX 2
    • 5 beds 3 baths ∙ 3,124 Sqft ∙ Built 1999 5 beds 3 baths ∙ 3,124 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.74
    •  
  • 3704 Drexel Drive Denton, TX 1
    • 4 beds 4 baths ∙ 2,844 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,844 Sqft ∙ Built 2006
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $0.75
    •  
  • 3708 Ocean Drive Denton, TX 3
    • 5 beds 4 baths ∙ 3,376 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,376 Sqft ∙ Built 2004
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.74
    •  
  • 2308 Lighthouse Drive Denton, TX 4
    • 4 beds 3 baths ∙ 2,948 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,948 Sqft ∙ Built 2014
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.85
    •  
  • 3606 Windsor Parkway Corinth, TX 5
    • 4 beds 3 baths ∙ 3,049 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,049 Sqft ∙ Built 2002
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.89
    •  
PROPERTY LISTING DETAILS
Nancy Koket
Re/max Cross Country
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504373
Last Updated: 01/30/2021
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