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1708 Millbrae Road Cleburne, TX 76033

3 Beds 2 Baths 1,800 sqft Built 2020

$233,606

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $129.78
  • 3 Days on Market
  • MLS # : 14466810
  • Updated Date : 11/06/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,800 sqft
  • Baths : 2 full
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

MOVE IN READY!!~LOCATED IN D.R. HORTON'S BEAUTIFUL NEW COMMUNITY OF BELCLAIRE in CLEBURNE & CLEBURNE ISD!~The Los Alamos Floorplan(Elev B),1 Story 3-2-2 plus Front Study & oversize Garage!~Large Living & Primary Bedroom secluded in back with dual sink Vanity,oversize separate Shower & Walk-In Closet with built-ins! Kitchen with Granite countertops,SS Appliances,gas range & walk-in pantry*Generous secondary Bedrooms,full Bath & Utility Room*Ceramic Tiled Entry,Hallways & Wet Areas~Home is Connected Smart Home Technology,tankless gas water heater,6 ft fenced backyard,covered Patio,Landscape pkg with full Sprinkler System~Catch & release pond,Gazebo,Playground,walking trails & more

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: 76033

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 76033

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9011734

* 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
Gerard Elementary School Primary Regular 531 31 5
Smith Middle School Middle Regular 775 53 4
Cleburne High School High Regular 1,653 110 4

Gerard Elementary School

  • Education Level: Primary
  • # of students: 531
  • # of teachers: 31
5
GreatSchools Rating

Smith Middle School

  • Education Level: Middle
  • # of students: 775
  • # of teachers: 53
4
GreatSchools Rating

Cleburne High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 110
4
GreatSchools Rating
 

$210,245$256,967$233,606

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$862
Property Tax -$575
Property Insurance -$131
HOA -$33
Property Management Fees -$99
CASH FLOW
-$121

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$233,606

PROJECTED PRICE

$1,580

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
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

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$63,906

INVESTMENT

$63,906

Down Payment
$58,402
Rehab Estimate
$2,000
Closing Costs
$3,504

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$862

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,402
Loan Amount $175,205
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,252

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,593

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,580
1$1,5802$1,5953$1,695
$1,695
RENT COMPS ANALYSIS
  • 1708 Millbrae Road Cleburne, TX 1
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.88
    •  
  • 1211 Davis Street Cleburne, TX 2
    • 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 2020
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.95
    •  
  • 806 Chestnut Grove Drive Cleburne, TX 3
    • 4 beds 2 baths ∙ 2,072 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,072 Sqft ∙ Built 2004
    LEASED 11/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.82
    •  
PROPERTY LISTING DETAILS
Carol Holloway Stoneham
Century 21 Mike Bowman, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466810
Last Updated: 11/06/2020
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