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2031 Cutter Crossing Place St. Paul, TX 75098

4 Beds 3 Baths 2,331 sqft Built 2017

$374,900

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $160.83
  • 1 Days on Market
  • MLS # : 14463061
  • Updated Date : 11/02/2020 at 16:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,331 sqft
  • Baths : 3 full
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

LIKE-NEW K HOVNANIAN HOME IN HIGHLY SOUGHT-AFTER RESORT-STYLE COMMUITY OF INSPIRATION! Soft neutral tones grace this impressive home boasting extensive wood flooring. Stylish kitchen featuring granite countertops, built-in stainless steel appliances with gas cooktop, large island with a breakfast bar and walk in pantry. Unwind in the spacious family room offering a cozy stone fireplace. Private study looks out to patio. Master suite showcasing a dual sink extended vanity, oversized walk-in shower & walk-in closet. Relax outside on the covered patio or enjoy a warm fire. Inspiration boasts 5 pools, lazy river, state-of-the-art fitness center, dog park, sand volleyball, putting green, and more! Wylie ISD!

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: 75098

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k399k

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

Zip Code: 75098

ZipNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262302

* 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
A.b. Harrison Intermediate School Primary Regular 658 39 8
Frank Mcmillan Junior High School Middle Regular 656 43 10
Wylie East High School High Regular 1,718 109 8

A.b. Harrison Intermediate School

  • Education Level: Primary
  • # of students: 658
  • # of teachers: 39
8
GreatSchools Rating

Frank Mcmillan Junior High School

  • Education Level: Middle
  • # of students: 656
  • # of teachers: 43
10
GreatSchools Rating

Wylie East High School

  • Education Level: High
  • # of students: 1,718
  • # of teachers: 109
8
GreatSchools Rating
 

$337,410$412,390$374,900

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,383
Property Tax -$746
Property Insurance -$162
HOA -$82
Property Management Fees -$99
CASH FLOW
-$292

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.

$374,900

PROJECTED PRICE

$2,180

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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-$8.0k-$6.0k-$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$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,099

INVESTMENT

$105,099

Down Payment
$93,725
Rehab Estimate
$5,750
Closing Costs
$5,624

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,383

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,725
Loan Amount $281,175
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,731

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,127

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9503$1,9994$2,1505$2,180
$2,180
RENT COMPS ANALYSIS
  • 2031 Cutter Crossing Place St. Paul, TX 5
    • 4 beds 3 baths ∙ 2,331 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,331 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.94
    •  
  • 1615 Hightimber Lane Wylie, TX 1
    • 4 beds 2 baths ∙ 2,163 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,163 Sqft ∙ Built 2001
    LEASED 05/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.88
    •  
  • 720 Cedar Bluff Drive Wylie, TX 2
    • 3 beds 3 baths ∙ 2,131 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,131 Sqft ∙ Built 2005
    LEASED 06/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.92
    •  
  • 1605 Redcedar Drive Wylie, TX 3
    • 4 beds 2 baths ∙ 2,235 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,235 Sqft ∙ Built 2003
    LEASED 05/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.89
    •  
  • 1831 Pacific Pearl Lane St. Paul, TX 4
    • 3 beds 2 baths ∙ 2,236 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,236 Sqft ∙ Built 2018
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.96
    •  
PROPERTY LISTING DETAILS
Stacie Gooch
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463061
Last Updated: 11/02/2020
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