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206 Crestside Drive Blue Ridge, TX 75424

3 Beds 2 Baths 1,342 sqft Built 2000

INVESTimate

$175,000

List Price

$1,480

$1,332 - $1,628

Rent Est.

$192,080  ( +9.76%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $130.40
  • 4 Days on Market
  • MLS # : 14418881
  • Updated Date : 08/24/2020 at 18:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,342 sqft
  • Baths : 2 full
Listing Agent

Jp & Associates Frisco

Listing Agent's Description

This country home was built in 2000 and is ready to move in. It comes with washer and dryer. Blinds on all windows. 2 car garage with water heater in garage. It has an over sized lot. This home is close to the heart of Blue Ridge and also close to McKinney. This is a great home for you or would also be a wonderful rental property.

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: 75424

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $101k383k

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

Zip Code: 75424

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8291734

* 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
Blue Ridge Elementary School Primary Regular 350 21 5
Blue Ridge Middle School Middle Regular 182 10 5
Blue Ridge High School High Regular 187 16 4

Blue Ridge Elementary School

  • Education Level: Primary
  • # of students: 350
  • # of teachers: 21
5
GreatSchools Rating

Blue Ridge Middle School

  • Education Level: Middle
  • # of students: 182
  • # of teachers: 10
5
GreatSchools Rating

Blue Ridge High School

  • Education Level: High
  • # of students: 187
  • # of teachers: 16
4
GreatSchools Rating
 

$157,500$192,500$175,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$646
Property Tax -$354
Property Insurance -$105
Property Management Fees -$99
CASH FLOW
$277

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.

$175,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.85%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.76%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,125

INVESTMENT

$52,125

Down Payment
$43,750
Rehab Estimate
$5,750
Closing Costs
$2,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$646

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $43,750
Loan Amount $131,250
See What Happens When You Reinvest Cash Flow

12.17

YEARS SAVED

$38,242

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,557

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,480
$1,480
RENT COMPS ANALYSIS
  • 206 Crestside Drive Blue Ridge, TX 2
    • 3 beds 2 baths ∙ 1,342 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,342 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $1.10
    •  
  • 212 N Morrow Street Blue Ridge, TX 1
    • 3 beds 2 baths ∙ 1,140 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,140 Sqft ∙ Built 1987
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $1.16
    •  
PROPERTY LISTING DETAILS
Greg Olsen
Jp & Associates Frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418881
Last Updated: 08/24/2020
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