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1628 Goodwin Drive Aubrey, TX 76227

3 Beds 2 Baths 1,817 sqft Built 2006

$250,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $137.59
  • 3 Days on Market
  • MLS # : 14466891
  • Updated Date : 11/06/2020 at 16:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,817 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

YOU WILL NOT BELIEVE ANYONE HAS EVER LIVED HERE!!! CLEANEST HOME IN PROVIDENCE!!! BRING YOUR WHITE GLOVES!!! GORGEOUS MAGAZINE WORTHY UPGRADES!!! HUGE KITCHEN OPENS TO EXPANSIVE LIVING ROOM! NATURAL LIGHT ABOUNDS! ALL OF YOUR FAMILY AND FRIENDS CAN COMFORTABLY ENJOY THE OUTDOOR LIVING ON THE EAST FACING BACK PORCH! LARGE BACK YARD PROVIDES THE PRIVACY OF TREES WITH NO NEIGHBORS BEHIND! ONE OF THE PRETTIEST, FRIENDLIEST AND MOST QUIET STREETS IN PROVIDENCE! ENJOY THE LARGE OWNERS' BEDROOM AND SPA-WORTHY BATHROOM! THIS HOME WILL GO UNDER CONTRACT VERY QUICKLY! OPEN HOUSE SAT AND SUN 11.7 AND 11.8 1PM TO 3PM DON'T MISS IT!

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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: Island Village at Providence

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $117k336k

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

Neighborhood: Island Village at Providence

NeighborhoodNIR 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
Monaco Elementary School Primary Regular 642 36 6
Aubrey Middle School Middle Regular 484 29 7
Aubrey High School High Regular 585 36 6

Monaco Elementary School

  • Education Level: Primary
  • # of students: 642
  • # of teachers: 36
6
GreatSchools Rating

Aubrey Middle School

  • Education Level: Middle
  • # of students: 484
  • # of teachers: 29
7
GreatSchools Rating

Aubrey High School

  • Education Level: High
  • # of students: 585
  • # of teachers: 36
6
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$922
Property Tax -$491
Property Insurance -$132
HOA -$60
Property Management Fees -$99
CASH FLOW
-$55

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.

$250,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.1%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$9,183

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,658

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6503$1,6504$1,6755$1,695
$1,695
RENT COMPS ANALYSIS
  • 1628 Goodwin Drive Aubrey, TX 3
    • 3 beds 2 baths ∙ 1,817 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,817 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.91
    •  
  • 1605 Cambridge Drive Providence Village, TX 1
    • 3 beds 3 baths ∙ 1,750 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,750 Sqft ∙ Built 2009
    property image
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.90
    •  
  • 1705 Murphy Court Aubrey, TX 2
    • 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 2006
    property image
    LEASED 09/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
  • 9905 Boston Harbor Drive Providence Village, TX 4
    • 3 beds 3 baths ∙ 1,909 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,909 Sqft ∙ Built 2004
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.88
    •  
  • 10012 Boston Harbor Drive Providence Village, TX 5
    • 3 beds 2 baths ∙ 1,817 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,817 Sqft ∙ Built 2009
    property image
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.93
    •  
PROPERTY LISTING DETAILS
Jason Carroll
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466891
Last Updated: 11/06/2020
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