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1716 Northbrook Lane Sherman, TX 75092

4 Beds 3 Baths 1,782 sqft Built 1998

INVESTimate

$205,000

List Price

$1,500

$1,350 - $1,650

Rent Est.

$217,505  ( +6.10%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $115.04
  • 2 Days on Market
  • MLS # : 14414512
  • Updated Date : 08/25/2020 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,782 sqft
  • Baths : 3 full
Listing Agent

Frontier Properties

Listing Agent's Description

Do not miss this 4 bedroom 3 bath home that features two master suites. Plenty of space for the family with large living room with wood burning fireplace, large eat in galley kitchen. Everyone will love the nicely landscaped front yard as well as the fenced over sized backyard. Enjoy the covered patio and the peacefulness this place has to offer. Conveniently located near the future High School, highways, shopping and dining.

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: 75092

ZipNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150k160k170k180k190kPrice in $60k199k

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

Zip Code: 75092

No Data Available.

* 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
Sory Elementary School Primary Regular 593 41 7
Dillingham Intermediate School Middle Regular 1,036 76 4
Sherman High School High Regular 1,780 119 5

Sory Elementary School

  • Education Level: Primary
  • # of students: 593
  • # of teachers: 41
7
GreatSchools Rating

Dillingham Intermediate School

  • Education Level: Middle
  • # of students: 1,036
  • # of teachers: 76
4
GreatSchools Rating

Sherman High School

  • Education Level: High
  • # of students: 1,780
  • # of teachers: 119
5
GreatSchools Rating
 

$184,500$225,500$205,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$756
Property Tax -$470
Property Insurance -$124
Property Management Fees -$99
CASH FLOW
$50

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$205,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 6.10%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,075

INVESTMENT

$60,075

Down Payment
$51,250
Rehab Estimate
$5,750
Closing Costs
$3,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$756

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $51,250
Loan Amount $153,750
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$9,413

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,550

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,4953$1,5004$1,5955$1,650
$1,650
RENT COMPS ANALYSIS
  • 1716 Northbrook Lane Sherman, TX 3
    • 4 beds 3 baths ∙ 1,782 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,782 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.84
    •  
  • 1301 Mallard Drive Sherman, TX 1
    • 4 beds 2 baths ∙ 1,759 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,759 Sqft ∙ Built 2002
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.85
    •  
  • 3402 Sherbrooke Place Sherman, TX 2
    • 3 beds 2 baths ∙ 1,686 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,686 Sqft ∙ Built 2005
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.89
    •  
  • 1829 Pebblebrook Lane Sherman, TX 4
    • 4 beds 2 baths ∙ 1,900 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,900 Sqft ∙ Built 1996
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.84
    •  
  • 3509 Sherbrooke Place Sherman, TX 5
    • 3 beds 2 baths ∙ 1,841 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,841 Sqft ∙ Built 2003
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
PROPERTY LISTING DETAILS
Samuel Holloway
Frontier Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14414512
Last Updated: 08/25/2020
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