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2037 Meadow Park Drive Princeton, TX 75407

5 Beds 3 Baths 3,320 sqft Built 2006

$349,900

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $105.39
  • 4 Days on Market
  • MLS # : 14512871
  • Updated Date : 02/11/2021 at 15:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,320 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fathom Realty Llc

Listing Agent's Description

Well kept home in the fast-growing Princeton area 5 BR, 2.5 baths. The downstairs master suite boasts an abundance of natural light, the ensuite has a jetted tub & separate shower, separate vanities & walk-in closet. Guest suite on the 1st floor & a study could be used as office or gym Enjoy the upstairs game room w an adjoining media room & 3 additional ensuite bedrooms. Great floor plan w gourmet island kitchen, w granite countertops & breakfast open to the main living area. Don’t miss out on the elegant built-in coffee bar & walk-in pantry. Cozy backyard ready for entertaining w natural shade & fruit trees ideal to relax. Improvements include: fence, water softener system, heat pump AC system & ceiling fans

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
Smith Elementary School Primary Regular NA
Clark Junior High School Middle Regular 540 33 8
Princeton High School High Regular 1,048 67 6

Smith Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
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
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,215
Property Tax -$729
Property Insurance -$219
HOA -$50
Property Management Fees -$99
CASH FLOW
-$173

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.

$349,900

PROJECTED PRICE

$2,140

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) 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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

1.75

YEARS SAVED

$4,322

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $2,147

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,890
1$1,8902$2,1403$2,1954$2,199
$2,199
RENT COMPS ANALYSIS
  • 2037 Meadow Park Drive Princeton, TX 2
    • 5 beds 3 baths ∙ 3,320 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,320 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.64
    •  
  • 3009 Hidden Meadow Lane Princeton, TX 1
    • 4 beds 3 baths ∙ 3,320 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,320 Sqft ∙ Built 2006
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.57
    •  
  • 2072 Meadow Park Drive Princeton, TX 3
    • 5 beds 4 baths ∙ 3,393 Sqft ∙ Built 2008 5 beds 4 baths ∙ 3,393 Sqft ∙ Built 2008
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.65
    •  
  • 636 Maple Leaf Way Princeton, TX 4
    • 5 beds 3 baths ∙ 3,060 Sqft ∙ Built 2020 5 beds 3 baths ∙ 3,060 Sqft ∙ Built 2020
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,199
    • $0.72
    •  
PROPERTY LISTING DETAILS
Betty Arguello
Fathom Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14512871
Last Updated: 02/11/2021
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