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1712 Terrace Way Argyle, TX 76226

4 Beds 3 Baths 2,591 sqft Built 2020

$443,816

List Price

$2,710

$2.5K - $3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $171.29
  • 3 Days on Market
  • MLS # : 14518214
  • Updated Date : 02/12/2021 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,591 sqft
  • Baths : 3 full
Listing Agent

David M. Weekley

Listing Agent's Description

NEW DAVID WEEKLEY HOME! Beautiful one story home that is split three ways with larger secondary bedrooms and an enormous kitchen with amazing built in cabinets in the casual dining room. The Master bedroom closet is huge and connects to the laundry room which is a favorite. Come see us before this one is gone! Will be ready early summer in Harvest with the amazing Argyle schools! Ask about our 1-2-10 year warranty and save big with our Energy Saver Program!

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: 76226

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k417k

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

Zip Code: 76226

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262773

* 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
Argyle Intermediate School Primary Regular 295 17 8
Argyle Intermediate School Middle Regular 295 17 8
Argyle High School High Regular 711 50 8

Argyle Intermediate School

  • Education Level: Primary
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle Intermediate School

  • Education Level: Middle
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle High School

  • Education Level: High
  • # of students: 711
  • # of teachers: 50
8
GreatSchools Rating
 

$399,434$488,198$443,816

PURCHASE PRICE

$2,439$2,981$2,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,710
EXPENSES Loan Payment -$1,542
Property Tax -$882
Property Insurance -$177
HOA -$92
Property Management Fees -$99
CASH FLOW
-$82

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.

$443,816

PROJECTED PRICE

$2,710

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 3.00%
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-$5.0k$0.0$5.0k$10k

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$119,611

INVESTMENT

$119,611

Down Payment
$110,954
Rehab Estimate
$2,000
Closing Costs
$6,657

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,542

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $110,954
Loan Amount $332,862
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$13,504

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,710

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $2,708

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,595
1$2,5952$2,6003$2,7004$2,7105$2,800
$2,800
RENT COMPS ANALYSIS
  • 1712 Terrace Way Argyle, TX 4
    • 4 beds 3 baths ∙ 2,591 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,591 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,710
    • $1.05
    •  
  • 840 Parkside Drive Argyle, TX 1
    • 4 beds 3 baths ∙ 2,699 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,699 Sqft ∙ Built 2018
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.96
    •  
  • 113 Oakmont Drive Argyle, TX 2
    • 4 beds 3 baths ∙ 2,517 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,517 Sqft ∙ Built 2016
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.03
    •  
  • 709 Fenceline Drive Argyle, TX 3
    • 4 beds 3 baths ∙ 2,488 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,488 Sqft ∙ Built 2014
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.09
    •  
  • 1512 7th Street Argyle, TX 5
    • 4 beds 3 baths ∙ 2,544 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,544 Sqft ∙ Built 2014
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.10
    •  
PROPERTY LISTING DETAILS
Jimmy Rado
David M. Weekley
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518214
Last Updated: 02/12/2021
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