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2002 Cassidy Lane Corinth, TX 76210

3 Beds 2 Baths 1,855 sqft Built 1997

$269,900

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $145.50
  • 3 Days on Market
  • MLS # : 14473957
  • Updated Date : 11/20/2020 at 16:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,855 sqft
  • Baths : 2 full
Listing Agent

Era Myers & Myers Realty

Listing Agent's Description

Beautiful Open Floor Plan Home! Majestic columns welcome you into the formal entry. Gorgeous built in wall units wonderfully display your family's library & treasures. The kitchen boasts travertine flooring, maple cabinets, granite tile counter tops with two pantries! The family room is spacious, warm and inviting. All of the bedrooms have large walk in closets! The large outdoor covered patio boasts a cedar Pergola with a large yard and storage building! The backyard fence has a double gate to allow easy vehicle access. THE HVAC SYSTEM IS 1 YEAR OLD & the roof is 5 years old. This home is waiting for you, Come on Home!

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

Neighborhood: Fairview West

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Fairview West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9062171

* 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
Corinth Elementary School Primary Regular 554 40 5
Lake Dallas Middle School Middle Regular 941 65 7
Lake Dallas High School High Regular 1,275 79 6

Corinth Elementary School

  • Education Level: Primary
  • # of students: 554
  • # of teachers: 40
5
GreatSchools Rating

Lake Dallas Middle School

  • Education Level: Middle
  • # of students: 941
  • # of teachers: 65
7
GreatSchools Rating

Lake Dallas High School

  • Education Level: High
  • # of students: 1,275
  • # of teachers: 79
6
GreatSchools Rating
 

$242,910$296,890$269,900

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$996
Property Tax -$546
Property Insurance -$134
Property Management Fees -$99
CASH FLOW
$25

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.

$269,900

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) 10.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$17,143

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
  • $0.97

    LIST RENT PER SQFT
  • $1,883

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8003$1,8154$1,8355$1,980
$1,980
RENT COMPS ANALYSIS
  • 2002 Cassidy Lane Corinth, TX 2
    • 3 beds 2 baths ∙ 1,855 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,855 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.97
    •  
  • 1708 Redwood Drive Corinth, TX 1
    • 4 beds 2 baths ∙ 1,735 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,735 Sqft ∙ Built 1998
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.04
    •  
  • 1715 Cedar Elm Drive Corinth, TX 3
    • 3 beds 2 baths ∙ 1,804 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,804 Sqft ∙ Built 1998
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,815
    • $1.01
    •  
  • 2010 Brazos Drive Corinth, TX 4
    • 3 beds 3 baths ∙ 1,914 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,914 Sqft ∙ Built 1998
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,835
    • $0.96
    •  
  • 1714 Cedar Elm Drive Corinth, TX 5
    • 3 beds 2 baths ∙ 1,881 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,881 Sqft ∙ Built 1998
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $1.05
    •  
PROPERTY LISTING DETAILS
Michael Martini
Era Myers & Myers Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14473957
Last Updated: 11/20/2020
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