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1709 Andrew Court Corinth, TX 76210

4 Beds 3 Baths 2,876 sqft Built 2002

$372,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $129.35
  • 4 Days on Market
  • MLS # : 14513417
  • Updated Date : 03/12/2021 at 10:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,876 sqft
  • Baths : 3 full
Listing Agent

Newland Real Estate, Inc.

Listing Agent's Description

This beautiful 4 bed 3 bath home is within walking distance of golf and tennis at Oakmont Country Club. The .224 acre lot allows for a nice space in the back yard and a buffer between you and the neighboring home. Large living room windows let the house fill with natural light throughout the day.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Neighborhood: Windsor Ridge at Oakmont

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Windsor Ridge at Oakmont

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10312213

* 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
 

$334,800$409,200$372,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,292
Property Tax -$752
Property Insurance -$193
HOA -$50
Property Management Fees -$99
CASH FLOW
-$246

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.

$372,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.58%

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-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$104,330

INVESTMENT

$104,330

Down Payment
$93,000
Rehab Estimate
$5,750
Closing Costs
$5,580

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,292

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,000
Loan Amount $279,000
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,739

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,157

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,075
1$2,0752$2,0953$2,1004$2,1405$2,500
$2,500
RENT COMPS ANALYSIS
  • 1709 Andrew Court Corinth, TX 4
    • 4 beds 3 baths ∙ 2,876 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,876 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.74
    •  
  • 3705 Saint Johns Drive Denton, TX 1
    • 4 beds 3 baths ∙ 2,748 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,748 Sqft ∙ Built 1999
    LEASED 02/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.76
    •  
  • 3625 Clydesdale Drive Denton, TX 2
    • 4 beds 3 baths ∙ 2,917 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,917 Sqft ∙ Built 2004
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.72
    •  
  • 1993 Hayden Lane Corinth, TX 3
    • 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
    •  
  • 3524 Saint Johns Drive Denton, TX 5
    • 5 beds 3 baths ∙ 3,039 Sqft ∙ Built 2003 5 beds 3 baths ∙ 3,039 Sqft ∙ Built 2003
    LEASED 01/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.82
    •  
PROPERTY LISTING DETAILS
Mark Alexander
Newland Real Estate, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14513417
Last Updated: 03/12/2021
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