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2013 Barton Springs Drive Corinth, TX 76210

4 Beds 3 Baths 2,574 sqft Built 1999

INVESTimate

$294,900

List Price

$2,080

$1,872 - $2,288

Rent Est.

$324,832  ( +10.15%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $114.57
  • 5 Days on Market
  • MLS # : 14414799
  • Updated Date : 08/22/2020 at 10:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,574 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Dfw Preferred

Listing Agent's Description

Oversized Everything in This Home That Has it All! Beautiful 4 bedroom Home with Large Backyard. Master Bedroom is HUGE, allowing space for sitting area or HOME OFFICE! Open floor plan, large bedrooms and plenty of space for all of life's activities. Stainless Steel fridge to stay in the home. New carpeting and ready for you to call it HOME! ****3D VIRTUAL TOUR AVAILABLE****

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: 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
 

$265,410$324,390$294,900

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,088
Property Tax -$586
Property Insurance -$176
Property Management Fees -$99
CASH FLOW
$131

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.

$294,900

PROJECTED PRICE

$2,080

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 10.15%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,899

INVESTMENT

$83,899

Down Payment
$73,725
Rehab Estimate
$5,750
Closing Costs
$4,424

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,725
Loan Amount $221,175
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$28,620

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,059

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,745
1$1,7452$1,7953$1,9954$2,0805$2,200
$2,200
RENT COMPS ANALYSIS
  • 2013 Barton Springs Drive Corinth, TX 4
    • 4 beds 3 baths ∙ 2,574 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,574 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $0.81
    •  
  • 2108 Barton Springs Drive Corinth, TX 1
    • 4 beds 3 baths ∙ 2,331 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,331 Sqft ∙ Built 1998
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.75
    •  
  • 2401 Glenhaven Drive Corinth, TX 2
    • 3 beds 3 baths ∙ 2,479 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,479 Sqft ∙ Built 2002
    LEASED 09/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.72
    •  
  • 3300 Juneau Drive Corinth, TX 3
    • 4 beds 2 baths ∙ 2,393 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,393 Sqft ∙ Built 2004
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.83
    •  
  • 1810 Manchester Way Corinth, TX 5
    • 4 beds 2 baths ∙ 2,431 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,431 Sqft ∙ Built 2000
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.90
    •  
PROPERTY LISTING DETAILS
Megan Hoenniger
Keller Williams Dfw Preferred
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14414799
Last Updated: 08/22/2020
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