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1705 Albatross Road Princeton, TX 75407

3 Beds 2 Baths 1,532 sqft Built 2021

$268,710

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $175.40
  • 6 Days on Market
  • MLS # : 14507044
  • Updated Date : 01/26/2021 at 15:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,532 sqft
  • Baths : 2 full
Listing Agent

Toby Jones

Listing Agent's Description

NEW CONSTRUCTION - Whitewing Trails community in Princeton. One-story Independence plan - Elevation P. 3BR + 2BA + Study + Kitchen Island + Whirlpool Appliances + Patio + Double Vanity - 1532 sf. Available for April 2021 move-in. Beautiful kitchen with 42 inch upper cabinets, granite counters, and Whirlpool Stainless Appliances. Recessed lighting in kitchen and Smart Home features.

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

Zip Code: 75407

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $114k243k

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

Zip Code: 75407

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8671734

* 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
Lacy Elementary School Primary Regular 695 47 6
Clark Junior High School Middle Regular 540 33 8
Princeton High School High Regular 1,048 67 6

Lacy Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 47
6
GreatSchools Rating

Clark Junior High School

  • Education Level: Middle
  • # of students: 540
  • # of teachers: 33
8
GreatSchools Rating

Princeton High School

  • Education Level: High
  • # of students: 1,048
  • # of teachers: 67
6
GreatSchools Rating
 

$241,839$295,581$268,710

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$933
Property Tax -$560
Property Insurance -$116
HOA -$46
Property Management Fees -$99
CASH FLOW
-$264

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$268,710

PROJECTED PRICE

$1,490

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,208

INVESTMENT

$73,208

Down Payment
$67,178
Rehab Estimate
$2,000
Closing Costs
$4,031

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$933

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,178
Loan Amount $201,533
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$453

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,494

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4903$1,5994$1,6005$1,825
$1,825
RENT COMPS ANALYSIS
  • 1705 Albatross Road Princeton, TX 2
    • 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.97
    •  
  • 818 Parkplace Ridge Princeton, TX 1
    • 3 beds 3 baths ∙ 1,534 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,534 Sqft ∙ Built 2014
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.91
    •  
  • 212 Creekwood Drive Princeton, TX 3
    • 3 beds 2 baths ∙ 1,666 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,666 Sqft ∙ Built 2006
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.96
    •  
  • 216 Creekwood Drive Princeton, TX 4
    • 3 beds 2 baths ∙ 1,709 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,709 Sqft ∙ Built 2010
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.94
    •  
  • 236 Teakwood Drive Princeton, TX 5
    • 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 2020
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $1.09
    •  
PROPERTY LISTING DETAILS
Lee Jones
Toby Jones
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14507044
Last Updated: 01/26/2021
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