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204 Michelle Street Aubrey, TX 76227

3 Beds 2 Baths 1,915 sqft Built 2019

$309,990

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
FACTS
  • Built In 2019
  • Price/Sqft : $161.87
  • 11 Days on Market
  • MLS # : 14459718
  • Updated Date : 10/25/2020 at 11:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,915 sqft
  • Baths : 2 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14459718 - Built by CastleRock Communities - December completion! ~ MODEL HOME FOR SALE! Loaded with amazing upgrade options on an oversized corner lot! This is one of our top selling floor plans and is very spacious with split bedrooms for master privacy and a study that can be used as a multipurpose bonus room. This kitchen is what dreams are made of with tons of cabinet and counter space! It comes with a 2.5 car air conditioned garage that will make a great gym or workshop!

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: 76227

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $117k336k

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

Zip Code: 76227

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Brockett Elementary School Primary Regular 500 30 7
Aubrey Middle School Middle Regular 484 29 7
Aubrey High School High Regular 585 36 6

Brockett Elementary School

  • Education Level: Primary
  • # of students: 500
  • # of teachers: 30
7
GreatSchools Rating

Aubrey Middle School

  • Education Level: Middle
  • # of students: 484
  • # of teachers: 29
7
GreatSchools Rating

Aubrey High School

  • Education Level: High
  • # of students: 585
  • # of teachers: 36
6
GreatSchools Rating
 

$278,991$340,989$309,990

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,144
Property Tax -$609
Property Insurance -$138
HOA -$13
Property Management Fees -$99
CASH FLOW
-$192

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$309,990

PROJECTED PRICE

$1,810

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 3.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,147

INVESTMENT

$84,147

Down Payment
$77,498
Rehab Estimate
$2,000
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,498
Loan Amount $232,493
See What Happens When You Reinvest Cash Flow

1.75

YEARS SAVED

$4,397

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,834

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7953$1,7954$1,8105$1,950
$1,950
RENT COMPS ANALYSIS
  • 204 Michelle Street Aubrey, TX 4
    • 3 beds 2 baths ∙ 1,915 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,915 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.95
    •  
  • 3004 Glenwood Court Aubrey, TX 1
    • 4 beds 2 baths ∙ 1,871 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,871 Sqft ∙ Built 2006
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
  • 740 Countryside Drive Aubrey, TX 2
    • 3 beds 2 baths ∙ 1,839 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,839 Sqft ∙ Built 2006
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.98
    •  
  • 404 Highmeadow Drive Aubrey, TX 3
    • 3 beds 2 baths ∙ 1,894 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,894 Sqft ∙ Built 2018
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.95
    •  
  • 1020 Diane Street Aubrey, TX 5
    • 4 beds 2 baths ∙ 2,023 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,023 Sqft ∙ Built 2005
    LEASED 11/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.96
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14459718
Last Updated: 10/25/2020
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