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1708 Ridge Creek Lane Aubrey, TX 76227

5 Beds 3 Baths 2,762 sqft Built 2017

$355,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $128.53
  • 3 Days on Market
  • MLS # : 14463031
  • Updated Date : 11/06/2020 at 17:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,762 sqft
  • Baths : 3 full
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Gorgeous home that still looks like a model! Barely lived in five bedroom home that has two bedrooms downstairs and three bedrooms upstairs with game room. From the moment you enter this home, you will be amazed by the upgraded touches the seller has placed into the house. Upgraded hardwood flooring, stone gas log fireplace, wooden interior barn doors, and light fixtures are just a few to mention. Fabulous backyard with covered patio and gas line for outdoor grill, PLUS a mosquito system installed throughout the patio and backyard which sits on a tree lined easement for extra privacy. This home is a must see and move in ready for you to call home!

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: 76227

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $117k336k

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

Zip Code: 76227

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Savannah Elementary School Primary Regular 640 42 6
Navo Middle School Middle Regular 1,077 65 7
Denton High School High Regular 2,166 140 6

Savannah Elementary School

  • Education Level: Primary
  • # of students: 640
  • # of teachers: 42
6
GreatSchools Rating

Navo Middle School

  • Education Level: Middle
  • # of students: 1,077
  • # of teachers: 65
7
GreatSchools Rating

Denton High School

  • Education Level: High
  • # of students: 2,166
  • # of teachers: 140
6
GreatSchools Rating
 

$319,500$390,500$355,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,310
Property Tax -$808
Property Insurance -$187
HOA -$65
Property Management Fees -$99
CASH FLOW
-$248

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.

$355,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,825

INVESTMENT

$99,825

Down Payment
$88,750
Rehab Estimate
$5,750
Closing Costs
$5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,310

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$3,008

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,182

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2003$2,2204$2,2505$2,300
$2,300
RENT COMPS ANALYSIS
  • 1708 Ridge Creek Lane Aubrey, TX 3
    • 5 beds 3 baths ∙ 2,762 Sqft ∙ Built 2017 5 beds 3 baths ∙ 2,762 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.80
    •  
  • 1804 Ridge Creek Lane Aubrey, TX 1
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2016
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.85
    •  
  • 781 Lancashire Lane Prosper, TX 2
    • 4 beds 3 baths ∙ 2,940 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,940 Sqft ∙ Built 2015
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.75
    •  
  • 5700 Colchester Drive Prosper, TX 4
    • 4 beds 3 baths ∙ 2,908 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,908 Sqft ∙ Built 2014
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.77
    •  
  • 950 Lancashire Lane Prosper, TX 5
    • 5 beds 3 baths ∙ 2,908 Sqft ∙ Built 2012 5 beds 3 baths ∙ 2,908 Sqft ∙ Built 2012
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.79
    •  
PROPERTY LISTING DETAILS
Joann Tyler
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463031
Last Updated: 11/06/2020
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