Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

196 Cattlemans Creek West Road Newark, TX 76071

5 Beds 3 Baths 2,700 sqft Built 2021

$300,900

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $111.44
  • 5 Days on Market
  • MLS # : 14512191
  • Updated Date : 02/03/2021 at 18:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,700 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lgi Homes

Listing Agent's Description

The Driftwood plan is a spacious two-story home with 5 bedrooms and 2.5 baths. Inside, you will find a host of included upgrades such as energy-efficient kitchen appliances, granite countertops, luxury wood-style flooring and an attached two-car garage with a wi-fi-enabled opener. This home features an incredible open layout, a downstairs master suite, an upstairs gameroom, as well as a fully-fenced backyard and front yard landscaping. Enjoy the space your family desires in this stunning home. Schedule a tour 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: 76071

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $94k243k

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

Zip Code: 76071

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8441734

* 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
Seven Hills Elementary School Primary Regular 560 37 4
Chisholm Trail Middle School Middle Regular 899 64 7
Northwest High School High Regular 2,793 170 6

Seven Hills Elementary School

  • Education Level: Primary
  • # of students: 560
  • # of teachers: 37
4
GreatSchools Rating

Chisholm Trail Middle School

  • Education Level: Middle
  • # of students: 899
  • # of teachers: 64
7
GreatSchools Rating

Northwest High School

  • Education Level: High
  • # of students: 2,793
  • # of teachers: 170
6
GreatSchools Rating
 

$270,810$330,990$300,900

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,045
Property Tax -$477
Property Insurance -$183
HOA -$37
Property Management Fees -$99
CASH FLOW
-$121

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$300,900

PROJECTED PRICE

$1,720

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 3.4%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,739

INVESTMENT

$81,739

Down Payment
$75,225
Rehab Estimate
$2,000
Closing Costs
$4,514

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,045

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,225
Loan Amount $225,675
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$6,153

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $2,295

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,720
1$1,7202$2,100
$2,100
RENT COMPS ANALYSIS
  • 196 Cattlemans Creek West Road Newark, TX 1
    • 5 beds 3 baths ∙ 2,700 Sqft ∙ Built 2021 5 beds 3 baths ∙ 2,700 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.64
    •  
  • 120 Smokehouse Court Newark, TX 2
    • 4 beds 3 baths ∙ 2,458 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,458 Sqft ∙ Built 2007
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.85
    •  
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 #: 14512191
Last Updated: 02/03/2021
BESbswy