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210 W State Street Alvord, TX 76225

3 Beds 3 Baths 1,638 sqft Built 2018

$230,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $140.42
  • 2 Days on Market
  • MLS # : 14481956
  • Updated Date : 12/05/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,638 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ledbetter Realty

Listing Agent's Description

Beautiful well maintained like new home with large backyard, custom light fixtures, barn door between kitchen and laundry room. Granite countertops though out, ceiling fans through out, extra tall shower heads in both bathrooms, covered back patio with fan. Workshop with work bench, and ceiling fan.

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: 76225

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $95k243k

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

Zip Code: 76225

ZipNIR Market*Market2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* 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
Alvord Elementary School Primary Regular 327 23 7
Alvord Middle School Middle Regular 156 12 4
Alvord High School High Regular 209 21 5

Alvord Elementary School

  • Education Level: Primary
  • # of students: 327
  • # of teachers: 23
7
GreatSchools Rating

Alvord Middle School

  • Education Level: Middle
  • # of students: 156
  • # of teachers: 12
4
GreatSchools Rating

Alvord High School

  • Education Level: High
  • # of students: 209
  • # of teachers: 21
5
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$849
Property Tax -$454
Property Insurance -$122
Property Management Fees -$99
CASH FLOW
$127

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.

$230,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
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$10k$12k

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$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$25,207

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,736

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,5003$1,6504$1,795
$1,795
RENT COMPS ANALYSIS
  • 210 W State Street Alvord, TX 3
    • 3 beds 3 baths ∙ 1,638 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,638 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.01
    •  
  • 801 S Wickham Street Alvord, TX 1
    • 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 2001
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.95
    •  
  • 610 S Wickham Street Alvord, TX 2
    • 3 beds 2 baths ∙ 1,323 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,323 Sqft ∙ Built 2000
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.13
    •  
  • 122 County Road 1380 Alvord, TX 4
    • 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 2007
    LEASED 12/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.10
    •  
PROPERTY LISTING DETAILS
Carolyne Ledbetter
Ledbetter Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481956
Last Updated: 12/05/2020
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