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1642 Ashington Farmers Branch, TX 75234

4 Beds 2 Baths 2,280 sqft Built 2019

$488,850

List Price

$2,550

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $214.41
  • 7 Days on Market
  • MLS # : 14486473
  • Updated Date : 01/23/2021 at 20:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,280 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

BETTER than new! Thoughtful upgrades incl. Plantation Shutters and Crown Molding throughout the house. Beautiful Wood Floors, 20x20 Tiles with glass inserts, Frameless Shower Door! Electric lift to large Attic in the garage for easy and extra storage. ADT Command automation security system installed. This beautiful single-story 4bed, 2bath, 2car garage home is in a new master-planned community, with community pools, playgrounds, dog parks, amenity center with gym and meeting rooms. Miles of scenic walking trails and an outdoor amphitheater planned in 2022. 5 Minutes away from 3 major highways - I635, I35 and Bush Turnpike.

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

Neighborhood: Farmers Branch

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $112k244k

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

Neighborhood: Farmers Branch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000Rent in $11262032

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$439,965$537,735$488,850

PURCHASE PRICE

$2,295$2,805$2,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,550
EXPENSES Loan Payment -$1,698
Property Tax -$1,070
Property Insurance -$159
HOA -$164
Property Management Fees -$99
CASH FLOW
-$640

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$488,850

PROJECTED PRICE

$2,550

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,295

INVESTMENT

$135,295

Down Payment
$122,213
Rehab Estimate
$5,750
Closing Costs
$7,333

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,698

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $122,213
Loan Amount $366,638
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$26

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,550

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $2,519

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,4503$2,5504$2,7505$2,900
$2,900
RENT COMPS ANALYSIS
  • 1642 Ashington Farmers Branch, TX 3
    • 4 beds 2 baths ∙ 2,280 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,280 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.12
    •  
  • 1436 Verwood Circle Farmers Branch, TX 1
    • 3 beds 3 baths ∙ 2,406 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,406 Sqft ∙ Built 2018
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.00
    •  
  • 804 Camilla Irving, TX 2
    • 3 beds 2 baths ∙ 2,219 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,219 Sqft ∙ Built 2006
    LEASED 03/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.10
    •  
  • 722 San Benito Irving, TX 4
    • 3 beds 2 baths ∙ 2,349 Sqft ∙ Built 2009 3 beds 2 baths ∙ 2,349 Sqft ∙ Built 2009
    LEASED 12/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.17
    •  
  • 6720 Castillo Street Irving, TX 5
    • 4 beds 3 baths ∙ 2,531 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,531 Sqft ∙ Built 2013
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.15
    •  
PROPERTY LISTING DETAILS
Carrie Han
Keller Williams Realty-fm
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14486473
Last Updated: 01/23/2021
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