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21 Surrey Square Abilene, TX 79606

3 Beds 3 Baths 3,229 sqft Built 1980

$290,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $89.81
  • 3 Days on Market
  • MLS # : 14499910
  • Updated Date : 01/15/2021 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,229 sqft
  • Baths : 2 full , 1 half
Listing Agent

Remax Of Abilene

Listing Agent's Description

BEAUTIFULLY STAGED. SUPERB floorplan affording abundant space for family & friends! Master bedroom & bath are upstairs with large, well designed individual closets & spacious areas for sitting and desk area. Downstairs has 2 large living areas; one has a fireplace & 2 large side etageres. The back living room has beautiful large windows viewing garden areas surrounded by tall brick fencing. This living area with its many wonderful features is great for entertaining family and friends. Stunning massive Red Oak and corner lot. Homeowner's Association covers yard care for front yard and grassy side yard of this property. This is an enjoyable place to live. Marvelous HOA; $55.00 per month.

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

Neighborhood: Chimney Rock Area

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $78k236k

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

Neighborhood: Chimney Rock Area

NeighborhoodNIR Market*CityMarket2015Year20112019 Q285090095010001050110011501200125013001350140014501500Rent in $8341531

* 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
Ward Elementary School Primary Regular 550 31 6
Clack Middle School Middle Regular 818 58 4
Cooper High School High Regular 1,806 135 4

Ward Elementary School

  • Education Level: Primary
  • # of students: 550
  • # of teachers: 31
6
GreatSchools Rating

Clack Middle School

  • Education Level: Middle
  • # of students: 818
  • # of teachers: 58
4
GreatSchools Rating

Cooper High School

  • Education Level: High
  • # of students: 1,806
  • # of teachers: 135
4
GreatSchools Rating
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,007
Property Tax -$624
Property Insurance -$211
HOA -$45
Property Management Fees -$99
CASH FLOW
-$217

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 18% of earned rent to cover both maintenance and periods of vacancy.

$290,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 4.2%
Maintenance Year (1-5) 8.00%
Vacancy 9.90%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$47

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.55

    LIST RENT PER SQFT
  • $1,744

    COMP ESTIMATED VALUE
  • $0.54

    COMP AVG. RENT PER SQFT
Comps Range
$1,770
1$1,7702$1,795
$1,795
RENT COMPS ANALYSIS
  • 21 Surrey Square Abilene, TX 1
    • 3 beds 3 baths ∙ 3,229 Sqft ∙ Built 1980 3 beds 3 baths ∙ 3,229 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.55
    •  
  • 3118 Sayles Boulevard Abilene, TX 2
    • 4 beds 3 baths ∙ 3,299 Sqft ∙ Built 1963 4 beds 3 baths ∙ 3,299 Sqft ∙ Built 1963
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.54
    •  
PROPERTY LISTING DETAILS
Joy Jordan
Remax Of Abilene
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14499910
Last Updated: 01/15/2021
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