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1804 Mcgee Avenue Argyle, TX 76226

4 Beds 2 Baths 1,934 sqft Built 2015

$307,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $158.74
  • 3 Days on Market
  • MLS # : 14499998
  • Updated Date : 01/22/2021 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,934 sqft
  • Baths : 2 full
Listing Agent

Jp And Associates Justin

Listing Agent's Description

Located in the exciting neighborhood of Harvest Meadows part of the Harvest Community. This neighborhood is a lifestyle in its self from community gardens, pools, events and The Farmhouse. See yourself coming home to this open and inviting floor plan. Relax under the covered patio and just enjoy the beautiful location that you will be a part of. You are also just a quick hop onto I35W to get to work or shopping from Denton to Fort Worth.

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: 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
 

$276,300$337,700$307,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,066
Property Tax -$656
Property Insurance -$139
HOA -$92
Property Management Fees -$99
CASH FLOW
$88

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.

$307,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.70%

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) 8.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,105

INVESTMENT

$87,105

Down Payment
$76,750
Rehab Estimate
$5,750
Closing Costs
$4,605

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,066

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,750
Loan Amount $230,250
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$19,211

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $2,190

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$2,140
1$2,1402$2,1503$2,1504$2,2005$2,500
$2,500
RENT COMPS ANALYSIS
  • 1804 Mcgee Avenue Argyle, TX 1
    • 4 beds 2 baths ∙ 1,934 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,934 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $1.11
    •  
  • 1712 Henderson Drive Northlake, TX 2
    • 3 beds 2 baths ∙ 1,934 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,934 Sqft ∙ Built 2016
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.11
    •  
  • 1720 Cole Lane Northlake, TX 3
    • 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 2015
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.15
    •  
  • 1713 Henderson Drive Northlake, TX 4
    • 3 beds 2 baths ∙ 2,031 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,031 Sqft ∙ Built 2015
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.08
    •  
  • 1816 Kaiser Cove Argyle, TX 5
    • 4 beds 3 baths ∙ 2,106 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,106 Sqft ∙ Built 2015
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.19
    •  
PROPERTY LISTING DETAILS
Cassie Samons
Jp And Associates Justin
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14499998
Last Updated: 01/22/2021
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