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1684 Glenmere Path Roanoke, TX 76262

4 Beds 4 Baths 3,457 sqft Built 2015

$499,500

List Price

$3,060

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $144.49
  • 5 Days on Market
  • MLS # : 14497586
  • Updated Date : 01/13/2021 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,457 sqft
  • Baths : 3 full , 1 half
Listing Agent

Motive Real Estate Group

Listing Agent's Description

Elegant custom home offers unparalleled craftsmanship in charming Roanoke. Features include gorgeous cherry cabinets, natural stone counter tops throughout, 3 car garage, and more! The gourmet kitchen boasts double ovens, a gas cooktop, microwave drawer, large island, and convenient butler's pantry (great for entertaining). The spacious first floor master suite offers soaring bay windows with a view to the huge backyard. Escape to the ensuite fit for a relaxing retreat with two large vanities and separate bath and shower. Head upstairs to find remaining 3 bedrooms with jack and jill bath, as well as a game room loft AND home theater! Great location with easy access to highway 377 and 114.

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

Neighborhood: Green Acres Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $77k350k

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

Neighborhood: Green Acres Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262579

* 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
Samuel Beck Elementary School Primary Regular 731 47 10
Medlin Middle School Middle Regular 1,078 65 8

Samuel Beck Elementary School

  • Education Level: Primary
  • # of students: 731
  • # of teachers: 47
10
GreatSchools Rating

Medlin Middle School

  • Education Level: Middle
  • # of students: 1,078
  • # of teachers: 65
8
GreatSchools Rating
 

$449,550$549,450$499,500

PURCHASE PRICE

$2,754$3,366$3,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,060
EXPENSES Loan Payment -$1,735
Property Tax -$870
Property Insurance -$227
HOA -$30
Property Management Fees -$99
CASH FLOW
$99

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.

$499,500

PROJECTED PRICE

$3,060

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.4%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,118

INVESTMENT

$138,118

Down Payment
$124,875
Rehab Estimate
$5,750
Closing Costs
$7,493

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,735

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,875
Loan Amount $374,625
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$30,987

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,060

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $3,172

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,850
1$2,8502$3,0003$3,0604$3,2005$3,500
$3,500
RENT COMPS ANALYSIS
  • 1684 Glenmere Path Roanoke, TX 3
    • 4 beds 4 baths ∙ 3,457 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,457 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $3,060
    • $0.89
    •  
  • 1366 Osborne Court Roanoke, TX 1
    • 5 beds 4 baths ∙ 3,303 Sqft ∙ Built 2015 5 beds 4 baths ∙ 3,303 Sqft ∙ Built 2015
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.86
    •  
  • 1379 Sandhurst Drive Roanoke, TX 2
    • 5 beds 3 baths ∙ 3,298 Sqft ∙ Built 2015 5 beds 3 baths ∙ 3,298 Sqft ∙ Built 2015
    LEASED 10/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.91
    •  
  • 2626 Broadway Drive Trophy Club, TX 4
    • 4 beds 4 baths ∙ 3,479 Sqft ∙ Built 2010 4 beds 4 baths ∙ 3,479 Sqft ∙ Built 2010
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.92
    •  
  • 362 Falstaff Drive Roanoke, TX 5
    • 4 beds 4 baths ∙ 3,562 Sqft ∙ Built 2011 4 beds 4 baths ∙ 3,562 Sqft ∙ Built 2011
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.98
    •  
PROPERTY LISTING DETAILS
John Staab
Motive Real Estate Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14497586
Last Updated: 01/13/2021
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