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1901 Ridge Creek Lane Aubrey, TX 76227

3 Beds 2 Baths 1,799 sqft Built 2017

INVESTimate

$269,000

List Price

$1,800

$1,620 - $1,980

Rent Est.

$289,471  ( +7.61%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $149.53
  • 3 Days on Market
  • MLS # : 14419275
  • Updated Date : 08/25/2020 at 02:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,799 sqft
  • Baths : 2 full
Listing Agent

Re/max Dallas Suburbs

Listing Agent's Description

Beautiful SINGLE STORY on Cul-de-sac, close to HOA PARK and LAKE! Fresh Paint 2020. 8ft front dr. KIT w_ huge 8 ft Island w_ wainscoating trim, granite tops, SS APPLIANCES, under mounted sink w_ upgraded Plumb FIXTURE, GAS range w_exterior vent! Designer backsplash, 42inch cabs. Pendant lights, window seat in dining area, 12 inch C_tile in KIT. SS FRIGIDAIRE REFRIG!!! Huge walk in pantry. Baths have 12 inch C-tile on flrs and walls. Den w_LED can lighting. 2inch blinds. French dr to covered patio. Private MSTR w_crown molding, separate vanities, shower and tub. 2 WICs Secondary BDRMs have great closet space. Gutters, TANKLESS water heater, SPRINK SYS w_ rain sensor, 3 CFs, Nickel dr knobs. ALARM, VERY CLEAN!

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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: 76227

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $117k336k

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

Zip Code: 76227

ZipNIR 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
Denton High School High Regular 2,166 140 6

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

Denton High School

  • Education Level: High
  • # of students: 2,166
  • # of teachers: 140
6
GreatSchools Rating
 

$242,100$295,900$269,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

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-$4.0k-$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$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$992
Property Tax -$612
Property Insurance -$131
HOA -$65
Property Management Fees -$99
CASH FLOW
-$100

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.

$269,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.61%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,035

INVESTMENT

$77,035

Down Payment
$67,250
Rehab Estimate
$5,750
Closing Costs
$4,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$992

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,250
Loan Amount $201,750
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$6,458

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,799

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8253$1,8754$1,9505$1,990
$1,990
RENT COMPS ANALYSIS
  • 1901 Ridge Creek Lane Aubrey, TX 1
    • 3 beds 2 baths ∙ 1,799 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,799 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.00
    •  
  • 1708 Meadow Trail Lane Aubrey, TX 2
    • 3 beds 2 baths ∙ 1,889 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,889 Sqft ∙ Built 2017
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.97
    •  
  • 1928 Steppe Trial Drive Aubrey, TX 3
    • 3 beds 2 baths ∙ 1,901 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,901 Sqft ∙ Built 2019
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.99
    •  
  • 1913 Ridge Creek Lane Aubrey, TX 4
    • 3 beds 2 baths ∙ 1,924 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,924 Sqft ∙ Built 2018
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.01
    •  
  • 1828 Ranch Trail Road Aubrey, TX 5
    • 3 beds 2 baths ∙ 1,924 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,924 Sqft ∙ Built 2018
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $1.03
    •  
PROPERTY LISTING DETAILS
Jeff Coats
Re/max Dallas Suburbs
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419275
Last Updated: 08/25/2020
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