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1912 Bridgestone Drive Corinth, TX 76210

3 Beds 4 Baths 3,858 sqft Built 1998

$499,900

List Price

$2,990

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $129.57
  • 3 Days on Market
  • MLS # : 14509263
  • Updated Date : 01/30/2021 at 12:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,858 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

LOADED WITH UPDATES SHOWS LIKE NEW, GREAT LOCATION ON HUGE LOT, NICE POOL SPA 3,800+ SQFT!!! 3-3.1-2 HOME IS PACKED WITH GREAT FEATURES AND BOASTS BEAUTIFUL WOOD FLOORS, OVERSIZED MASTER WITH SITTING AREA, UPDATED KITCHEN WITH SS APPS AND GRANITE COUNTERTOPS, HUGE OVERSIZED LIVING AREA UPSTAIRS WITH ROOM TO ADD AN ADDITIONAL BEDROOM, AND MORE! GREAT LOCATION ON .366 ACRE LOT NEAR SCHOOLS AND I-35, PROPERTY FEATURES NICE HEATED POOL AND ATTACHED SPA, COVERED PATIO, LARGE BACKYARD, GREAT CURB APPEAL, AND MORE. UPDATES ALSO INCLUDE A CURRENT REMODELING OF MASTER BATH TO BE FINISHED NEXT WEEK, HVAC REPLACED IN 7-2020, AND WINDOWS IN BACK OF HOME REPLACED IN 6-2020! COME SEE IT TODAY!

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

Neighborhood: Kensington Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k396k

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

Neighborhood: Kensington Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262640

* 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
Hawk Elementary School Primary Regular 726 46 8
Crownover Middle School Middle Regular 938 59 8
John H. Guyer High School High Regular 2,395 162 8

Hawk Elementary School

  • Education Level: Primary
  • # of students: 726
  • # of teachers: 46
8
GreatSchools Rating

Crownover Middle School

  • Education Level: Middle
  • # of students: 938
  • # of teachers: 59
8
GreatSchools Rating

John H. Guyer High School

  • Education Level: High
  • # of students: 2,395
  • # of teachers: 162
8
GreatSchools Rating
 

$449,910$549,890$499,900

PURCHASE PRICE

$2,691$3,289$2,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,990
EXPENSES Loan Payment -$1,736
Property Tax -$1,010
Property Insurance -$250
HOA -$21
Property Management Fees -$99
CASH FLOW
-$127

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.

$499,900

PROJECTED PRICE

$2,990

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.1%
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$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,224

INVESTMENT

$138,224

Down Payment
$124,975
Rehab Estimate
$5,750
Closing Costs
$7,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,736

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,975
Loan Amount $374,925
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$13,049

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,990

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $3,125

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,990
1$2,9902$3,100
$3,100
RENT COMPS ANALYSIS
  • 1912 Bridgestone Drive Corinth, TX 1
    • 3 beds 4 baths ∙ 3,858 Sqft ∙ Built 1998 3 beds 4 baths ∙ 3,858 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,990
    • $0.78
    •  
  • 1115 Ardglass Trail Corinth, TX 2
    • 4 beds 4 baths ∙ 3,837 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,837 Sqft ∙ Built 2015
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.81
    •  
PROPERTY LISTING DETAILS
Brad Mckissack
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509263
Last Updated: 01/30/2021
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