Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1703 Thorndale Court Corinth, TX 76210

4 Beds 3 Baths 2,876 sqft Built 1998

$373,000

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $129.69
  • 5 Days on Market
  • MLS # : 14507140
  • Updated Date : 01/29/2021 at 00:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,876 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

Freshly renovated 4-3 home on a cul-de-sac in the OAKMONT COUNTRY CLUB ESTATES Community. Walking distance to the course, perfect for golfing fanatics. Beautiful hard wood flooring in the main area with high ceilings and fire place and oversized windows to welcome fresh light. Updated tile, granite, back splash and stainless steel appliances in kitchen. Spacious master bedroom and closet with an oversized walk in shower including a rain head faucet. Additionally includes a downstairs office and an upstairs sizable bonus room for a media or family play room. Brand new carpet throughout home. 2 walk-in attic entrances allows significant storage space. Highly sought after neighborhood, this deal won't last long!!

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: Eagle Pass at Oakmont

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Eagle Pass at Oakmont

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10092246

* 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
 

$335,700$410,300$373,000

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$1,296
Property Tax -$754
Property Insurance -$193
HOA -$83
Property Management Fees -$99
CASH FLOW
-$155

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.

$373,000

PROJECTED PRICE

$2,270

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.8%
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

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$104,595

INVESTMENT

$104,595

Down Payment
$93,250
Rehab Estimate
$5,750
Closing Costs
$5,595

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,296

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,250
Loan Amount $279,750
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$6,116

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,006

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,9753$2,0954$2,1005$2,270
$2,270
RENT COMPS ANALYSIS
  • 1703 Thorndale Court Corinth, TX 5
    • 4 beds 3 baths ∙ 2,876 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,876 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $0.79
    •  
  • 1206 Wentwood Drive Corinth, TX 1
    • 4 beds 3 baths ∙ 2,695 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,695 Sqft ∙ Built 2003
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.65
    •  
  • 3705 Saint Johns Drive Denton, TX 2
    • 4 beds 3 baths ∙ 2,748 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,748 Sqft ∙ Built 1999
    LEASED 10/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.72
    •  
  • 3625 Clydesdale Drive Denton, TX 3
    • 4 beds 3 baths ∙ 2,917 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,917 Sqft ∙ Built 2004
    LEASED 11/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.72
    •  
  • 1993 Hayden Lane Corinth, TX 4
    • 4 beds 4 baths ∙ 2,998 Sqft ∙ Built 2000 4 beds 4 baths ∙ 2,998 Sqft ∙ Built 2000
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.70
    •  
PROPERTY LISTING DETAILS
Claudia Caballero
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 #: 14507140
Last Updated: 01/29/2021
BESbswy