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1713 Cross Creek Lane Cleburne, TX 76033

4 Beds 2 Baths 1,818 sqft Built 2017

$240,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $132.01
  • 3 Days on Market
  • MLS # : 14520930
  • Updated Date : 02/26/2021 at 11:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,818 sqft
  • Baths : 2 full
Listing Agent

The Sales Team, Realtors Dfw

Listing Agent's Description

This house did NOT lose electricity or water during the winter storm! This open concept home boast space for entertainment and gaming! Enjoy the large kitchen island to gather around for fun snacks. Each of the 4 bedrooms have large closets. The covered patio is great to relax and enjoy your lush green grass in the spring! Close to Lake Pat Cleburne and Cleburne Golf Links.

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
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$834
Property Tax -$591
Property Insurance -$132
HOA -$29
Property Management Fees -$99
CASH FLOW
-$245

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.

$240,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.60%

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) 8.00%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$199

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,709

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,440
1$1,4402$1,5953$1,695
$1,695
RENT COMPS ANALYSIS
  • 1713 Cross Creek Lane Cleburne, TX 1
    • 4 beds 2 baths ∙ 1,818 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,818 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.79
    •  
  • 708 Buffalo Creek Drive Cleburne, TX 2
    • 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 2020
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.06
    •  
  • 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
Alexa Boedeker
The Sales Team, Realtors Dfw
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14520930
Last Updated: 02/26/2021
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