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1617 Stanchion Way Weatherford, TX 76087

4 Beds 3 Baths 2,629 sqft Built 2020

$349,125

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $132.80
  • 1 Days on Market
  • MLS # : 14488880
  • Updated Date : 12/19/2020 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,629 sqft
  • Baths : 3 full
Listing Agent

Ntex Realty, Lp

Listing Agent's Description

The Colca II design reflects unique features and exceptional attention to detail. This ranch-style home gives a bright open layout with an abundance of windows, large master suite, wide open kitchen and living area. With 4 bedrooms, a study and formal dining room your family will not have to settle on this layout. The Colca II is what you have been looking for and will make you feel right at home!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $104k342k

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

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11212171

* 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
Mary Martin Elementary School Primary Regular 590 34 5
Mary Martin Elementary School Middle Regular 590 34 5
Weatherford High School High Regular 2,238 148 6

Mary Martin Elementary School

  • Education Level: Primary
  • # of students: 590
  • # of teachers: 34
5
GreatSchools Rating

Mary Martin Elementary School

  • Education Level: Middle
  • # of students: 590
  • # of teachers: 34
5
GreatSchools Rating

Weatherford High School

  • Education Level: High
  • # of students: 2,238
  • # of teachers: 148
6
GreatSchools Rating
 

$314,213$384,038$349,125

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$1,288
Property Tax -$743
Property Insurance -$179
HOA -$67
Property Management Fees -$99
CASH FLOW
$114

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$349,125

PROJECTED PRICE

$2,490

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 3.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$94,518

INVESTMENT

$94,518

Down Payment
$87,281
Rehab Estimate
$2,000
Closing Costs
$5,237

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,288

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,281
Loan Amount $261,844
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$29,059

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,436

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,2003$2,4904$2,595
$2,595
RENT COMPS ANALYSIS
  • 1617 Stanchion Way Weatherford, TX 3
    • 4 beds 3 baths ∙ 2,629 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,629 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $0.95
    •  
  • 1540 Stetson Drive Weatherford, TX 1
    • 3 beds 3 baths ∙ 2,416 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,416 Sqft ∙ Built 2012
    property image
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.91
    •  
  • 231 Shirley Circle Weatherford, TX 2
    • 4 beds 2 baths ∙ 2,433 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,433 Sqft ∙ Built 2000
    property image
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.90
    •  
  • 1624 Salado Trail Weatherford, TX 4
    • 3 beds 3 baths ∙ 2,667 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,667 Sqft ∙ Built 2007
    property image
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.97
    •  
PROPERTY LISTING DETAILS
Clinton Shipley
Ntex Realty, Lp
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14488880
Last Updated: 12/19/2020
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