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1946 Madison Drive Seagoville, TX 75159

4 Beds 3 Baths 2,209 sqft Built 2020

$271,900

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $123.09
  • 3 Days on Market
  • MLS # : 14514001
  • Updated Date : 02/05/2021 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,209 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lgi Homes

Listing Agent's Description

The Cypress is a gorgeous, two-story home featuring an open floor plan, 4 bedrooms and 2.5 baths. The Cypress showcases a master suite on the main floor complete with an in-suite bathroom with double sinks and a garden tub. This new home comes with thousands of dollars in upgrades already included such as granite countertops, 36” upper wood cabinets, energy-efficient kitchen appliances, a fully fenced back yard, and an attached two-car garage with a Wi-Fi-enabled opener. Schedule your tour of the Cypress plan at Seagoville Farms today!

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: 75159

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $79k243k

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

Zip Code: 75159

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Seagoville North Elementary School Primary Unknown 713 41 NA
Seagoville Middle School Middle Regular 1,151 68 3
Seagoville High School High Regular 1,289 77 3

Seagoville North Elementary School

  • Education Level: Primary
  • # of students: 713
  • # of teachers: 41
NA
GreatSchools Rating

Seagoville Middle School

  • Education Level: Middle
  • # of students: 1,151
  • # of teachers: 68
3
GreatSchools Rating

Seagoville High School

  • Education Level: High
  • # of students: 1,289
  • # of teachers: 77
3
GreatSchools Rating
 

$244,710$299,090$271,900

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$944
Property Tax -$637
Property Insurance -$155
HOA -$28
Property Management Fees -$99
CASH FLOW
-$123

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$271,900

PROJECTED PRICE

$1,740

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.5%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,054

INVESTMENT

$74,054

Down Payment
$67,975
Rehab Estimate
$2,000
Closing Costs
$4,079

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$944

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,975
Loan Amount $203,925
See What Happens When You Reinvest Cash Flow

1.75

YEARS SAVED

$3,326

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,723

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6753$1,740
$1,740
RENT COMPS ANALYSIS
  • 1946 Madison Drive Seagoville, TX 3
    • 4 beds 3 baths ∙ 2,209 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,209 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.79
    •  
  • 1405 Julie Street Seagoville, TX 1
    • 4 beds 2 baths ∙ 2,034 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,034 Sqft ∙ Built 2005
    property image
    LEASED 08/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.76
    •  
  • 2615 Horton Drive Seagoville, TX 2
    • 4 beds 2 baths ∙ 2,081 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,081 Sqft ∙ Built 2019
    property image
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.80
    •  
PROPERTY LISTING DETAILS
Mona Hill
Lgi Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14514001
Last Updated: 02/05/2021
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