Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

208 Mabel Avenue Princeton, TX 75407

3 Beds 2 Baths 1,215 sqft Built 1996

INVESTimate

$184,000

List Price

$1,290

$1,161 - $1,419

Rent Est.

$199,382  ( +8.36%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $151.44
  • 2 Days on Market
  • MLS # : 14420290
  • Updated Date : 08/25/2020 at 11:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,215 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Hurry before this one is GONE! This one owner home has been very well maintained and has recently had a complete makeover. 2020 updates include roof, SS appliances, butcher block counters, faux wood blinds, paint throughout entire home (walls, trim, cabinets). Other updates in recent years include, HVAC, wood laminate flooring, ring doorbell system, light fixtures, covered deck, open deck, 12x16 workshop with electricity & window unit, additional 7x7 storage shed, hot tub, and pool. Foundation repairs completed Aug 2020, transferable warranty for buyer.

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
Lacy Elementary School Primary Regular 695 47 6
Clark Junior High School Middle Regular 540 33 8
Princeton High School High Regular 1,048 67 6

Lacy Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 47
6
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
 

$165,600$202,400$184,000

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$679
Property Tax -$383
Property Insurance -$97
Property Management Fees -$99
CASH FLOW
$31

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.

$184,000

PROJECTED PRICE

$1,290

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.36%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$54,510

INVESTMENT

$54,510

Down Payment
$46,000
Rehab Estimate
$5,750
Closing Costs
$2,760

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$679

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $46,000
Loan Amount $138,000
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$12,893

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,309

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,225
1$1,2252$1,2903$1,3954$1,4005$1,400
$1,400
RENT COMPS ANALYSIS
  • 208 Mabel Avenue Princeton, TX 2
    • 3 beds 2 baths ∙ 1,215 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,215 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $1.06
    •  
  • 1009 Weiss Avenue Princeton, TX 1
    • 4 beds 2 baths ∙ 1,209 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,209 Sqft ∙ Built 1985
    LEASED 09/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $1.01
    •  
  • 422 Harvard Drive Princeton, TX 3
    • 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 2006
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.05
    •  
  • 817 N 3rd Street Princeton, TX 4
    • 3 beds 2 baths ∙ 1,282 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,282 Sqft ∙ Built 1996
    LEASED 11/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.09
    •  
  • 1012 Weiss Avenue Princeton, TX 5
    • 4 beds 2 baths ∙ 1,209 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,209 Sqft ∙ Built 1985
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.16
    •  
PROPERTY LISTING DETAILS
Deedra Poteet
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14420290
Last Updated: 08/25/2020
BESbswy