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202 King George Road Ponder, TX 76259

3 Beds 2 Baths 1,614 sqft Built 2006

$243,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $150.56
  • 2 Days on Market
  • MLS # : 14481209
  • Updated Date : 12/05/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,614 sqft
  • Baths : 2 full
Listing Agent

Fraser Realty

Listing Agent's Description

Move in ready ranch in great community in Ponder. Large quarter acre lot & no hoa make this home and neighborhood perfect in close knit town. Home is open, light & bright. Freshly painted, no carpet, newer roof, hvac -with upgraded air filtration system- & hwh. Kitchen is huge & open to the dining and living area making this home ideal for entertaining & family time. Stone fireplace, ready for Christmas stockings anchors the living room next to media niche with flat screen wiring. Split floorplan for maximum privacy. Guest bedrooms are large sized with walk in closets. Primary bedroom has ensuite bath with soaking tub & separate shower with dual vanities. Concrete back patio recently added to large back yard.

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

Neighborhood: Steamboat Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $106k282k

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

Neighborhood: Steamboat Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8051763

* 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
Ponder Elementary School Primary Regular 610 43 5
Ponder Junior High School Middle Regular 291 21 7
Ponder High School High Regular 399 29 4

Ponder Elementary School

  • Education Level: Primary
  • # of students: 610
  • # of teachers: 43
5
GreatSchools Rating

Ponder Junior High School

  • Education Level: Middle
  • # of students: 291
  • # of teachers: 21
7
GreatSchools Rating

Ponder High School

  • Education Level: High
  • # of students: 399
  • # of teachers: 29
4
GreatSchools Rating
 

$218,700$267,300$243,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$897
Property Tax -$472
Property Insurance -$120
Property Management Fees -$99
CASH FLOW
-$28

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$243,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.2%
Maintenance Year (1-5) 8.00%
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$900k

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,145

INVESTMENT

$70,145

Down Payment
$60,750
Rehab Estimate
$5,750
Closing Costs
$3,645

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$897

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,750
Loan Amount $182,250
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$11,538

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,679

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5603$1,6004$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 202 King George Road Ponder, TX 2
    • 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.97
    •  
  • 208 E Doyle Street Ponder, TX 1
    • 3 beds 2 baths ∙ 1,451 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,451 Sqft ∙ Built 2019
    property image
    LEASED 11/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.07
    •  
  • 210 E Doyle Street Ponder, TX 3
    • 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 2019
    property image
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.06
    •  
  • 214 Southpeak Lane Ponder, TX 4
    • 4 beds 2 baths ∙ 1,862 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,862 Sqft ∙ Built 2004
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
  • 216 King George Road Ponder, TX 5
    • 3 beds 2 baths ∙ 1,601 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,601 Sqft ∙ Built 2005
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.09
    •  
PROPERTY LISTING DETAILS
Tessa Samarripas
Fraser Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481209
Last Updated: 12/05/2020
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