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18 Admiral Way Pottsboro, TX 75076

3 Beds 2 Baths 1,700 sqft Built 2021

$409,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $240.59
  • 2 Days on Market
  • MLS # : 14501030
  • Updated Date : 01/16/2021 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,700 sqft
  • Baths : 2 full
Listing Agent

Re/max First Realty Iii

Listing Agent's Description

Harbor Village is a unique and exciting project that will re-invent the way you think of a lake vacation home. Floating on water with its own private covered slip and outdoor decking for relaxing and watching the setting sun. 3 bedroom 2 full bath open living and kitchen. New owner will choose color of home, flooring, paint or stain, countertops, back splash and more. . Come quick to see what all the other owners are calling the best lake property money can buy. Great rental income producing property as well. Ask me about how that works. Just two left on Admiral Way with the open water views.

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: 75076

ZipNIR Market*CityMarket2010Year2000201970k80k90k100k110k120k130k140k150k160k170kPrice in $65k176k

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

Zip Code: 75076

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
Pottsboro Elementary School Primary Regular 439 25 4
Pottsboro Middle School Middle Regular 314 20 6
Pottsboro High School High Regular 430 30 7

Pottsboro Elementary School

  • Education Level: Primary
  • # of students: 439
  • # of teachers: 25
4
GreatSchools Rating

Pottsboro Middle School

  • Education Level: Middle
  • # of students: 314
  • # of teachers: 20
6
GreatSchools Rating

Pottsboro High School

  • Education Level: High
  • # of students: 430
  • # of teachers: 30
7
GreatSchools Rating
 

$368,100$449,900$409,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,421
Property Tax -$603
Property Insurance -$120
HOA -$250
Property Management Fees -$99
CASH FLOW
-$602

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$409,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 3.00%
Vacancy 6.00%
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-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

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$110,385

INVESTMENT

$110,385

Down Payment
$102,250
Rehab Estimate
$2,000
Closing Costs
$6,135

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,421

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,250
Loan Amount $306,750
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$6

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,887

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5003$1,890
$1,890
RENT COMPS ANALYSIS
  • 18 Admiral Way Pottsboro, TX 3
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $1.11
    •  
  • 806 Darter Court Pottsboro, TX 1
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 2018
    LEASED 08/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.11
    •  
  • 803 Darter Court Pottsboro, TX 2
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 2018
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.11
    •  
PROPERTY LISTING DETAILS
Andrea Bedell
Re/max First Realty Iii
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501030
Last Updated: 01/16/2021
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