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204 Milton Street Josephine, TX 75173

4 Beds 3 Baths 2,040 sqft Built 2020

$229,900

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Built In 2020
  • Price/Sqft : $112.70
  • 20 Days on Market
  • MLS # : 14454174
  • Updated Date : 10/26/2020 at 15:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,040 sqft
  • Baths : 2 full , 1 half
Listing Agent

White Rock Realty

Listing Agent's Description

PRE-SALE, NEW CONSTRUCTION COMPLETION DATE MAY 2021, NO HOA, Very open plan, 4 Bed, 2.5 Bath, natural light, modern cabinets, granite countertop, cover back patio.

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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: 75173

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $107k322k

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

Zip Code: 75173

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7191741

* 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
Phyliss Nesmith Elementary School Primary Regular 469 26 7
Edge Middle School Middle Regular 441 26 4
Community High School High Regular 507 39 6

Phyliss Nesmith Elementary School

  • Education Level: Primary
  • # of students: 469
  • # of teachers: 26
7
GreatSchools Rating

Edge Middle School

  • Education Level: Middle
  • # of students: 441
  • # of teachers: 26
4
GreatSchools Rating

Community High School

  • Education Level: High
  • # of students: 507
  • # of teachers: 39
6
GreatSchools Rating
 

$206,910$252,890$229,900

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$848
Property Tax -$350
Property Insurance -$145
Property Management Fees -$99
CASH FLOW
$358

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$229,900

PROJECTED PRICE

$1,800

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 3.00%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,924

INVESTMENT

$62,924

Down Payment
$57,475
Rehab Estimate
$2,000
Closing Costs
$3,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$848

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

13.17

YEARS SAVED

$56,868

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,809

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,7503$1,8004$1,850
$1,850
RENT COMPS ANALYSIS
  • 204 Milton Street Josephine, TX 3
    • 4 beds 3 baths ∙ 2,040 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,040 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.88
    •  
  • 1741 Rolling Meadow Lane Josephine, TX 1
    • 4 beds 2 baths ∙ 2,005 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,005 Sqft ∙ Built 2016
    property image
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.84
    •  
  • 500 Milo Way Josephine, TX 2
    • 4 beds 2 baths ∙ 1,891 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,891 Sqft ∙ Built 2019
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.93
    •  
  • 403 Shiplap Lane Josephine, TX 4
    • 4 beds 3 baths ∙ 2,074 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,074 Sqft ∙ Built 2018
    property image
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.89
    •  
PROPERTY LISTING DETAILS
Nohemi Rayon
White Rock Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14454174
Last Updated: 10/26/2020
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