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202 W Shelton Street Alvarado, TX 76009

3 Beds 2 Baths 1,044 sqft Built 2015

$175,000

List Price

$1,170

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $167.62
  • 7 Days on Market
  • MLS # : 14538142
  • Updated Date : 03/25/2021 at 12:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,044 sqft
  • Baths : 2 full
Listing Agent

The Real Estate Group

Listing Agent's Description

Three bedroom, 2 bath cozy cabin style home in the heart of Alvarado Tx. Quick access to 67 and I 35 which gets a quick commute to Dallas, Fort Worth and Waco. Home sits on a large lot with a huge two car garage and a driveway large enough to accommodate for extra parking needs. Relax on the super cute front porch or enjoy entertaining in the open concept living room and kitchen. Come call this your home! Reviewing Best and Final offers Friday March, twenty sixth, by noon.

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: 76009

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 76009

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9051734

* 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
Alvarado High School High Regular 1,033 64 5

Alvarado High School

  • Education Level: High
  • # of students: 1,033
  • # of teachers: 64
5
GreatSchools Rating
 

$157,500$192,500$175,000

PURCHASE PRICE

$1,053$1,287$1,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,170
EXPENSES Loan Payment -$608
Property Tax -$401
Property Insurance -$88
Property Management Fees -$99
CASH FLOW
-$26

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.

$175,000

PROJECTED PRICE

$1,170

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,125

INVESTMENT

$52,125

Down Payment
$43,750
Rehab Estimate
$5,750
Closing Costs
$2,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$608

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $43,750
Loan Amount $131,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$5,458

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,170

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,161

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,170
1$1,1702$1,3503$1,3504$1,3505$1,475
$1,475
RENT COMPS ANALYSIS
  • 202 W Shelton Street Alvarado, TX 1
    • 3 beds 2 baths ∙ 1,044 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,044 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,170
    • $1.12
    •  
  • 194 S Preston Drive Alvarado, TX 2
    • 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 2019
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.11
    •  
  • 303 Apache Trail Alvarado, TX 3
    • 3 beds 2 baths ∙ 1,192 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,192 Sqft ∙ Built 2001
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.13
    •  
  • 108 Janis Street Alvarado, TX 4
    • 3 beds 2 baths ∙ 1,219 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,219 Sqft ∙ Built 1997
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.11
    •  
  • 209 Apache Trail Alvarado, TX 5
    • 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 2000
    LEASED 01/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.10
    •  
PROPERTY LISTING DETAILS
Erica Alferez
The Real Estate Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14538142
Last Updated: 03/25/2021
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