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1930 Blue Ridge Court Savannah, TX 76227

3 Beds 2 Baths 1,544 sqft Built 2012

$232,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $150.26
  • 4 Days on Market
  • MLS # : 14467561
  • Updated Date : 11/12/2020 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,544 sqft
  • Baths : 2 full
Listing Agent

Lovejoy Homes Realty, Llc.

Listing Agent's Description

Beautiful 3 bedroom, 2 bathroom home in the family-friendly resort-style community of Savannah. Bright and open floor plan, featuring real hardwood floors, vaulted ceilings & spacious living area with fireplace. Fabulous kitchen with granite countertops & island and all stainless steel appliances. Multifunctional office and sunroom is an added bonus. Enjoy front and side covered porches and a two-car garage. Resort-style living community with unbelievable amenities: community pool, water park, huge water slides, fitness center, dry sauna, parks, playgrounds, tennis & basketball courts, soccer fields, hiking & bike trails, and private stocked lakes. A definite 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

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
 

$208,800$255,200$232,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$856
Property Tax -$528
Property Insurance -$116
HOA -$71
Property Management Fees -$99
CASH FLOW
-$30

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.

$232,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.71%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$67,230

INVESTMENT

$67,230

Down Payment
$58,000
Rehab Estimate
$5,750
Closing Costs
$3,480

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$856

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,000
Loan Amount $174,000
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$9,291

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,799

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,5953$1,6404$1,6505$1,950
$1,950
RENT COMPS ANALYSIS
  • 1930 Blue Ridge Court Savannah, TX 3
    • 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $1.06
    •  
  • 1724 Forsythe Drive Savannah, TX 1
    • 3 beds 2 baths ∙ 1,365 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,365 Sqft ∙ Built 2004
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.17
    •  
  • 1405 Live Oak Lane Savannah, TX 2
    • 3 beds 2 baths ∙ 1,365 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,365 Sqft ∙ Built 2004
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.17
    •  
  • 1820 Mercer Way Savannah, TX 4
    • 3 beds 2 baths ∙ 1,419 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,419 Sqft ∙ Built 2004
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.16
    •  
  • 5671 Colchester Drive Prosper, TX 5
    • 3 beds 2 baths ∙ 1,686 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,686 Sqft ∙ Built 2013
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.16
    •  
PROPERTY LISTING DETAILS
Don Mcgrath
Lovejoy Homes Realty, Llc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467561
Last Updated: 11/12/2020
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