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1900 Mimosa Court Savannah, TX 76227

4 Beds 2 Baths 1,759 sqft Built 2004

$247,900

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $140.93
  • 3 Days on Market
  • MLS # : 14481227
  • Updated Date : 12/04/2020 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,759 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

So many options in this 4 bedroom home! Large upstairs bedroom could easily be used as a game room or play room. Secondary bedroom downstairs could be used as an office or formal dining. Open Kitchen with beautiful granite, gas range, & breakfast bar opens to family room with lovely gas log fireplace. HUGE 1st floor master suite and master bath with jetted tub, dual sinks and large closet. So much to do in Savannah! Neighborhood features club house, tennis, volleyball and basketball courts, water park, lake, walking biking paths, fitness center and so much more.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Savannah

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Savannah

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Savannah Elementary School Primary Regular 640 42 6
Navo Middle School Middle Regular 1,077 65 7
Billy Ryan High School High Regular 2,409 170 5

Savannah Elementary School

  • Education Level: Primary
  • # of students: 640
  • # of teachers: 42
6
GreatSchools Rating

Navo Middle School

  • Education Level: Middle
  • # of students: 1,077
  • # of teachers: 65
7
GreatSchools Rating

Billy Ryan High School

  • Education Level: High
  • # of students: 2,409
  • # of teachers: 170
5
GreatSchools Rating
 

$223,110$272,690$247,900

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$915
Property Tax -$564
Property Insurance -$129
HOA -$71
Property Management Fees -$99
CASH FLOW
$33

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.

$247,900

PROJECTED PRICE

$1,810

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.5%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

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$71,444

INVESTMENT

$71,444

Down Payment
$61,975
Rehab Estimate
$5,750
Closing Costs
$3,719

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$915

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,975
Loan Amount $185,925
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$14,979

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,794

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7403$1,7504$1,8105$1,895
$1,895
RENT COMPS ANALYSIS
  • 1900 Mimosa Court Savannah, TX 4
    • 4 beds 2 baths ∙ 1,759 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,759 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $1.03
    •  
  • 1725 Mercer Way Savannah, TX 1
    • 4 beds 2 baths ∙ 1,665 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,665 Sqft ∙ Built 2006
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.02
    •  
  • 1832 Forsythe Drive Savannah, TX 2
    • 4 beds 2 baths ∙ 1,759 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,759 Sqft ∙ Built 2004
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.99
    •  
  • 1931 Blue Ridge Court Savannah, TX 3
    • 3 beds 2 baths ∙ 1,759 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,759 Sqft ∙ Built 2005
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.99
    •  
  • 1701 Kennessaw Drive Savannah, TX 5
    • 4 beds 2 baths ∙ 1,759 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,759 Sqft ∙ Built 2004
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.08
    •  
PROPERTY LISTING DETAILS
Ranesa Bodine
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481227
Last Updated: 12/04/2020
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