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202 Nickolas Drive Princeton, TX 75407

4 Beds 4 Baths 2,582 sqft Built 2021

$359,990

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $139.42
  • 2 Days on Market
  • MLS # : 14503596
  • Updated Date : 01/30/2021 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,582 sqft
  • Baths : 3 full , 1 half
Listing Agent

House & Home Real Estate, Llc

Listing Agent's Description

STONEHOLLOW HOMES! TIMINERI ESTATES! POPULAR ASHBURY FLOOR PLAN! 2-STORY! GAME ROOM UPSTAIRS! READY APRIL! NO MUD! NO PID! ELEGANT FRONT DOOR w. FLEMISH glass. Rich HANDSCRAPED WOOD FLOORS in Entry, Formal Dining, Kitchen, Family! STUDY enclosed w. French Doors. BRIGHT KITCHEN w. WHITE CABINETS, EXOTIC VISCON WHITE GRANITE setoff w. white subway tile. STAINLESS appliances. SPACIOUS Family Room anchored w. AUSTIN CHALK STONE FIREPLACE to ceiling w. CEDAR MANTEL. BATHROOMS w. WHITE CABINETS light floor and shower tile. COVERED PATIO. FEATURES include oil rubbed bronze fixtures, 5.25 inch baseboards, granite in all baths, rocker switches, full sod, full sprinkler, full gutters, garage door opener. COME SEE IT!

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

Zip Code: 75407

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $114k243k

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

Zip Code: 75407

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8671734

* 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
Harper Elementary School Primary Regular 549 36 6
Clark Junior High School Middle Regular 540 33 8
Princeton High School High Regular 1,048 67 6

Harper Elementary School

  • Education Level: Primary
  • # of students: 549
  • # of teachers: 36
6
GreatSchools Rating

Clark Junior High School

  • Education Level: Middle
  • # of students: 540
  • # of teachers: 33
8
GreatSchools Rating

Princeton High School

  • Education Level: High
  • # of students: 1,048
  • # of teachers: 67
6
GreatSchools Rating
 

$323,991$395,989$359,990

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,250
Property Tax -$750
Property Insurance -$176
HOA -$42
Property Management Fees -$99
CASH FLOW
-$118

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.

$359,990

PROJECTED PRICE

$2,200

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
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$200k$400k$600k$800k$1.0M$1.2M

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$97,397

INVESTMENT

$97,397

Down Payment
$89,998
Rehab Estimate
$2,000
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,998
Loan Amount $269,993
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$7,782

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,195

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9503$1,9504$1,9995$2,200
$2,200
RENT COMPS ANALYSIS
  • 202 Nickolas Drive Princeton, TX 5
    • 4 beds 4 baths ∙ 2,582 Sqft ∙ Built 2021 4 beds 4 baths ∙ 2,582 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.85
    •  
  • 910 Spruce Lane Princeton, TX 1
    • 4 beds 3 baths ∙ 2,240 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,240 Sqft ∙ Built 2019
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.83
    •  
  • 751 Cascade Lane Princeton, TX 2
    • 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2020
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.86
    •  
  • 787 Myrtle Lane Princeton, TX 3
    • 5 beds 3 baths ∙ 2,339 Sqft ∙ Built 2020 5 beds 3 baths ∙ 2,339 Sqft ∙ Built 2020
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.83
    •  
  • 780 Cascade Lane Princeton, TX 4
    • 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2019
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.88
    •  
PROPERTY LISTING DETAILS
Kathryn Corey
House & Home Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14503596
Last Updated: 01/30/2021
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