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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.

$54,510

Investment Est.

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

AVAILABLE

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AVAILABLE

1 YEAR
Gross Yield	8.41%
NOI	$6,316

15 YEAR
Yield	5.14%
Appreciation	4.42%
TOTAL RETURN	24.27%

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.

1 of 23 X

MARKET HIGHLIGHTS

Dallas Market Report

. 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)

Zip Code: 75407

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

Zip Code: 75407

* 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

GreatSchools Rating

Clark Junior High School

Education Level: Middle
# of students: 540
# of teachers: 33

GreatSchools Rating

Princeton High School

Education Level: High
# of students: 1,048
# of teachers: 67

GreatSchools Rating

FINANCIALS

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$165,600$202,40000$184,000

PURCHASE PRICE

$1,161$1,41900$1,290

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

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PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

Cash Flow
Appreciation
Principal

PROJECTED ANNUAL CASH FLOW

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

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

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

4.25%

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

1,215
PROPERTY SQFT
$1.08
AVG RENT PER SQFT
$1,309
ESTIMATED VALUE
$1,290
LIST RENT

208 Mabel Avenue Princeton, TX 5

3 beds 2 baths ∙ 1,215 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,215 Sqft ∙ Built 1996
Price

Price Per SQFT

$184,000

$151.44
918 Prairie Creek Drive Princeton, TX 1

3 beds 2 baths ∙ 1,197 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,197 Sqft ∙ Built 1985
SOLD 04/24/20
Price

Price Per SQFT

$139,500

$116.54
410 E Hazelwood Street Princeton, TX 2

3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1985
SOLD 07/16/20
Price

Price Per SQFT

$165,000

$131.58
412 Bois D Arc Avenue Princeton, TX 3

3 beds 2 baths ∙ 1,197 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,197 Sqft ∙ Built 1997
SOLD 03/27/20
Price

Price Per SQFT

$179,900

$150.29
1020 Weiss Avenue Princeton, TX 4

3 beds 2 baths ∙ 1,341 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,341 Sqft ∙ Built 2001
SOLD 06/23/20
Price

Price Per SQFT

$179,900

$134.15

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

208 Mabel Avenue Princeton, TX 75407

INVESTimate

$184,000

$1,290

$54,510

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

Lacy Elementary School

Clark Junior High School

Princeton High School

FINANCIALS

$165,600$202,40000$184,000

$1,161$1,41900$1,290

Acquisition Concierge

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$184,000

$1,290

0.70%

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$679

5.5

$12,893

$184,000

$151.44

$161,765

$133.14

COMPS RANGE

PRICE COMPS ANALYSIS

$1,290

$1.06

$1,309

$1.08

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS