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2006 Harvest Lane Josephine, TX 75173

4 Beds 3 Baths 2,814 sqft Built 2020

$364,900

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $129.67
  • 6 Days on Market
  • MLS # : 14478114
  • Updated Date : 12/01/2020 at 14:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,814 sqft
  • Baths : 3 full
Listing Agent

Builders Realty

Listing Agent's Description

New construction, completion feb-2021, MUST SEE THIS 4-3-3 with study! Too many custom features to mention, Vinyl windows. Builder Robbie Hale has more details.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Zip Code: 75173

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $107k322k

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

Zip Code: 75173

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7191741

* 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
Phyliss Nesmith Elementary School Primary Regular 469 26 7
Edge Middle School Middle Regular 441 26 4
Community High School High Regular 507 39 6

Phyliss Nesmith Elementary School

  • Education Level: Primary
  • # of students: 469
  • # of teachers: 26
7
GreatSchools Rating

Edge Middle School

  • Education Level: Middle
  • # of students: 441
  • # of teachers: 26
4
GreatSchools Rating

Community High School

  • Education Level: High
  • # of students: 507
  • # of teachers: 39
6
GreatSchools Rating
 

$328,410$401,390$364,900

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,346
Property Tax -$555
Property Insurance -$190
Property Management Fees -$99
CASH FLOW
-$160

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.

$364,900

PROJECTED PRICE

$2,030

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.7%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,699

INVESTMENT

$98,699

Down Payment
$91,225
Rehab Estimate
$2,000
Closing Costs
$5,474

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,346

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,225
Loan Amount $273,675
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$9,961

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $2,054

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,9003$2,030
$2,030
RENT COMPS ANALYSIS
  • 2006 Harvest Lane Josephine, TX 3
    • 4 beds 3 baths ∙ 2,814 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,814 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.72
    •  
  • 413 Magnolia Drive Josephine, TX 1
    • 4 beds 3 baths ∙ 2,475 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,475 Sqft ∙ Built 2011
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.73
    •  
  • 410 Plum Drive Josephine, TX 2
    • 5 beds 3 baths ∙ 2,598 Sqft ∙ Built 2016 5 beds 3 baths ∙ 2,598 Sqft ∙ Built 2016
    property image
    LEASED 09/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.73
    •  
PROPERTY LISTING DETAILS
John Wood
Builders Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14478114
Last Updated: 12/01/2020
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