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1764 Independence Road Blue Mound, TX 76131

3 Beds 2 Baths 1,538 sqft Built 1998

$185,000

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $120.29
  • 2 Days on Market
  • MLS # : 14466368
  • Updated Date : 11/21/2020 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,538 sqft
  • Baths : 2 full
Listing Agent

Century 21 Judge Fite Company

Listing Agent's Description

*INVESTMENT PROPERTY* Great opportunity to purchase a 3 bedroom, 2 bathroom well maintained home with tenants already leasing the property until July 24th,2021. In a well established charming neighborhood. Elementary school within walking distant. Large master bedroom with walk in closet, separate garden tub and shower. Oversized backyard with no neighbors behind you, covered patio, and a storage shed. Easy access to Loop 820 and I-35.

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

Zip Code: 76131

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $77k243k

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

Zip Code: 76131

ZipNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11021734

* 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
Gililland Elementary School Primary Regular 635 36 3
Highland Middle School Middle Regular 815 54 7
Saginaw High School High Regular 1,785 113 6

Gililland Elementary School

  • Education Level: Primary
  • # of students: 635
  • # of teachers: 36
3
GreatSchools Rating

Highland Middle School

  • Education Level: Middle
  • # of students: 815
  • # of teachers: 54
7
GreatSchools Rating

Saginaw High School

  • Education Level: High
  • # of students: 1,785
  • # of teachers: 113
6
GreatSchools Rating
 

$166,500$203,500$185,000

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$683
Property Tax -$436
Property Insurance -$116
Property Management Fees -$99
CASH FLOW
$86

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.

$185,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$54,775

INVESTMENT

$54,775

Down Payment
$46,250
Rehab Estimate
$5,750
Closing Costs
$2,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$683

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $46,250
Loan Amount $138,750
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$17,284

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,526

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,420
1$1,4202$1,4493$1,4494$1,5955$1,595
$1,595
RENT COMPS ANALYSIS
  • 1764 Independence Road Blue Mound, TX 1
    • 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.92
    •  
  • 809 Waggoman Road Blue Mound, TX 2
    • 3 beds 2 baths ∙ 1,528 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,528 Sqft ∙ Built 1989
    LEASED 05/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.95
    •  
  • 2255 Goldleaf Court Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 1979
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $1.02
    •  
  • 6304 Kristen Drive Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 2004
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.01
    •  
  • 2612 Evening Shade Drive Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 2004
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.99
    •  
PROPERTY LISTING DETAILS
Grace Lemle
Century 21 Judge Fite Company
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466368
Last Updated: 11/21/2020
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