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1833 Chesapeake Drive Crowley, TX 76036

3 Beds 2 Baths 1,552 sqft Built 2020

$243,900

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $157.15
  • 4 Days on Market
  • MLS # : 14466379
  • Updated Date : 11/05/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,552 sqft
  • Baths : 2 full
Listing Agent

Lgi Homes

Listing Agent's Description

New! This lovely 3 bedroom home features a large family room with lots of light. The fully equipped kitchen showcases new, energy efficient kitchen appliances (including refrigerator), and stunning granite countertops. The spacious master suite features a large walk in closet, and garden tub. This home is a must see!

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: 76036

ZipNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240kPrice in $122k243k

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

Zip Code: 76036

ZipNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$219,510$268,290$243,900

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$900
Property Tax -$604
Property Insurance -$117
HOA -$30
Property Management Fees -$99
CASH FLOW
-$40

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.

$243,900

PROJECTED PRICE

$1,710

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 3.00%
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$700k

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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,634

INVESTMENT

$66,634

Down Payment
$60,975
Rehab Estimate
$2,000
Closing Costs
$3,659

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$900

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,975
Loan Amount $182,925
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$9,162

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,723

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,710
1$1,7102$1,7503$1,795
$1,795
RENT COMPS ANALYSIS
  • 1833 Chesapeake Drive Crowley, TX 1
    • 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $1.10
    •  
  • 10354 Fort Crockett Trail Crowley, TX 2
    • 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 2020
    property image
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.21
    •  
  • 721 Watson Way Crowley, TX 3
    • 4 beds 2 baths ∙ 1,771 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,771 Sqft ∙ Built 2018
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.01
    •  
PROPERTY LISTING DETAILS
Mona Hill
Lgi Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466379
Last Updated: 11/05/2020
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