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1901 Princeton Avenue Farmersville, TX 75442

3 Beds 2 Baths 1,676 sqft Built 2018

$225,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $134.25
  • 6 Days on Market
  • MLS # : 14510665
  • Updated Date : 02/05/2021 at 22:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,676 sqft
  • Baths : 2 full
Listing Agent

Stacy Petruzzi Real Estate

Listing Agent's Description

This in the one you've been waiting for! Very cute new home, in an up and coming community! Features an open floor plan. Kitchen has beautiful slate colored cabinets, granite counter tops, a large island with lots of counter space with a spot for 2 stool for the breakfast bar.The vaulted ceiling make this one feel very open, the secondary bedrooms are large as well with plenty of closet space. MB is split from other rooms for privacy and has an enormous walk-in closet. The master bathroom has a linen nook, lots of counter space, and a large shower! Home features tile in common areas and carpet in all the bedrooms All information and measurements deemed reliable but not guaranteed agent to verify!

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: 75442

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $101k297k

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

Zip Code: 75442

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8381734

* 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
Farmersville Intermediate School Primary Regular 490 31 6
Farmersville Junior High School Middle Regular 373 24 8
Farmersville High School High Regular 450 35 6

Farmersville Intermediate School

  • Education Level: Primary
  • # of students: 490
  • # of teachers: 31
6
GreatSchools Rating

Farmersville Junior High School

  • Education Level: Middle
  • # of students: 373
  • # of teachers: 24
8
GreatSchools Rating

Farmersville High School

  • Education Level: High
  • # of students: 450
  • # of teachers: 35
6
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$782
Property Tax -$437
Property Insurance -$124
HOA -$34
Property Management Fees -$99
CASH FLOW
$174

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.

$225,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.8%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$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$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$24,855

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,747

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6503$1,6504$1,6505$1,675
$1,675
RENT COMPS ANALYSIS
  • 1901 Princeton Avenue Farmersville, TX 4
    • 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.98
    •  
  • 1713 Yale Street Farmersville, TX 1
    • 4 beds 2 baths ∙ 1,587 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,587 Sqft ∙ Built 2019
    LEASED 12/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.01
    •  
  • 503 Meadowview Street Farmersville, TX 2
    • 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 2006
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.10
    •  
  • 109 Columbia St Farmersville, TX 3
    • 4 beds 2 baths ∙ 1,656 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,656 Sqft ∙ Built 2019
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
  • 1703 Princeton Avenue Farmersville, TX 5
    • 4 beds 2 baths ∙ 1,587 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,587 Sqft ∙ Built 2019
    LEASED 01/29/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.06
    •  
PROPERTY LISTING DETAILS
Jason Byrd
Stacy Petruzzi Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14510665
Last Updated: 02/05/2021
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