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203 Boardwalk Waxahachie, TX 75165

3 Beds 2 Baths 1,802 sqft Built 2010

$255,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $141.51
  • 5 Days on Market
  • MLS # : 14479971
  • Updated Date : 12/04/2020 at 17:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,802 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

LOCATION, LOCATION, LOCATION! Immaculate home near schools, medical, & parks where pride of ownership shows! Flexible floor plan with 3 bedrooms plus an office or smaller 2nd living area. Split bedroom arrangement. No carpet here! Open concept kitchen, living, & dining. Light & bright. Wood burning fireplace. Large kitchen with granite counters. Fenced back yard. Recent updates include: LED lighting, ceiling fans, fence, HVAC, sod. Walk to parks, ponds, & school from here. Minutes from HWY 287 or I-35 for an easy commute. **Seller has received multiple offers on this property. Highest and best deadline is Saturday 12-5-2020 at 1pm.**

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: 75165

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $112k243k

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

Zip Code: 75165

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9841734

* 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
Felty Elementary School Primary Regular 521 33 8
Howard Junior High School Middle Regular 857 62 6
Waxahachie High School High Regular 1,985 138 4

Felty Elementary School

  • Education Level: Primary
  • # of students: 521
  • # of teachers: 33
8
GreatSchools Rating

Howard Junior High School

  • Education Level: Middle
  • # of students: 857
  • # of teachers: 62
6
GreatSchools Rating

Waxahachie High School

  • Education Level: High
  • # of students: 1,985
  • # of teachers: 138
4
GreatSchools Rating
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$941
Property Tax -$426
Property Insurance -$131
Property Management Fees -$99
CASH FLOW
$253

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.

$255,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.1%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$41,456

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,874

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7953$1,8504$1,8505$1,895
$1,895
RENT COMPS ANALYSIS
  • 203 Boardwalk Waxahachie, TX 4
    • 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.03
    •  
  • 315 Hacienda Drive Waxahachie, TX 1
    • 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 2006
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.01
    •  
  • 218 Garden Grove Drive Waxahachie, TX 2
    • 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 2019
    LEASED 09/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.01
    •  
  • 104 Atlantic Avenue Waxahachie, TX 3
    • 4 beds 2 baths ∙ 1,730 Sqft ∙ Built 2011 4 beds 2 baths ∙ 1,730 Sqft ∙ Built 2011
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.07
    •  
  • 333 Choctaw Trail Waxahachie, TX 5
    • 4 beds 2 baths ∙ 1,779 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,779 Sqft ∙ Built 2004
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.07
    •  
PROPERTY LISTING DETAILS
Melissa Mcclain
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14479971
Last Updated: 12/04/2020
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