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204 Stephens Street Waxahachie, TX 75165

3 Beds 2 Baths 1,525 sqft Built 2020

$225,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $147.54
  • 2 Days on Market
  • MLS # : 14481947
  • Updated Date : 12/05/2020 at 13:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,525 sqft
  • Baths : 2 full
Listing Agent

Ultima Real Estate

Listing Agent's Description

New construction in a great location, within walking distance to Downtown Waxahachie. This home will feature beautiful finishes with an open concept design and floor plan that has a nice flow. The large flexible living space will accommodate a formal dining room set up or you can use the entire space and have a huge living room. There is a breakfast nook off the kitchen a breakfast bar and stainless appliances. There is a large office at the front of the house that can also be a second living room or game room. There is a nice covered patio and the lot offers mature trees for shade and a good sized backyard. Home is not completed.

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
Marvin Elementary School Primary Regular NA
Finley Junior High School Middle Regular 882 64 5
Waxahachie High School High Regular 1,985 138 4

Marvin Elementary School

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

Finley Junior High School

  • Education Level: Middle
  • # of students: 882
  • # of teachers: 64
5
GreatSchools Rating

Waxahachie High School

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

$202,500$247,500$225,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$830
Property Tax -$488
Property Insurance -$115
Property Management Fees -$99
CASH FLOW
$7

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.

$225,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.68%

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) 3.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,625

INVESTMENT

$61,625

Down Payment
$56,250
Rehab Estimate
$2,000
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$12,822

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,556

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,4003$1,5404$1,7005$1,700
$1,700
RENT COMPS ANALYSIS
  • 204 Stephens Street Waxahachie, TX 3
    • 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $1.01
    •  
  • 105 5 Points Road Waxahachie, TX 1
    • 3 beds 2 baths ∙ 1,190 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,190 Sqft ∙ Built 2004
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.01
    •  
  • 115 Munchus Street Waxahachie, TX 2
    • 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 2002
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.00
    •  
  • 313 Leisure Lane Waxahachie, TX 4
    • 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 2004
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.04
    •  
  • 86 Briar Lane Waxahachie, TX 5
    • 4 beds 2 baths ∙ 1,646 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,646 Sqft ∙ Built 2006
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.03
    •  
PROPERTY LISTING DETAILS
Tracie Harrison
Ultima Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481947
Last Updated: 12/05/2020
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