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211 Greenhill Drive Glenn Heights, TX 75154

5 Beds 3 Baths 2,762 sqft Built 2020

$327,735

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $118.66
  • 2 Days on Market
  • MLS # : 14470824
  • Updated Date : 12/05/2020 at 02:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,762 sqft
  • Baths : 3 full
Listing Agent

Gehan Homes Brokerage, Llc

Listing Agent's Description

Amazing 2 Story Gray Point Home!!! Master Bedroom and Secondary Bedroom located on the first floor. Open floor plan to the Family Room and Study. Second Story has 3 oversized Bedrooms and a large Game Room. Beautifully landscaped with a Sprinkler System.

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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: 75154

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $110k243k

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

Zip Code: 75154

ZipNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550160016501700Rent in $10151734

* 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
D.t. Shields Elementary School Primary Regular 563 33 6
Red Oak Junior High School Middle Regular 872 52 6
Red Oak High School High Regular 1,794 115 5

D.t. Shields Elementary School

  • Education Level: Primary
  • # of students: 563
  • # of teachers: 33
6
GreatSchools Rating

Red Oak Junior High School

  • Education Level: Middle
  • # of students: 872
  • # of teachers: 52
6
GreatSchools Rating

Red Oak High School

  • Education Level: High
  • # of students: 1,794
  • # of teachers: 115
5
GreatSchools Rating
 

$294,962$360,509$327,735

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$1,209
Property Tax -$714
Property Insurance -$187
HOA -$50
Property Management Fees -$99
CASH FLOW
-$9

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$327,735

PROJECTED PRICE

$2,250

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$88,850

INVESTMENT

$88,850

Down Payment
$81,934
Rehab Estimate
$2,000
Closing Costs
$4,916

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,209

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,934
Loan Amount $245,801
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$15,932

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,189

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,990
1$1,9902$2,1503$2,2504$2,2855$2,325
$2,325
RENT COMPS ANALYSIS
  • 211 Greenhill Drive Glenn Heights, TX 3
    • 5 beds 3 baths ∙ 2,762 Sqft ∙ Built 2020 5 beds 3 baths ∙ 2,762 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.81
    •  
  • 521 Magnolia Lane Glenn Heights, TX 1
    • 4 beds 2 baths ∙ 2,415 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,415 Sqft ∙ Built 2005
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.82
    •  
  • 627 Magnolia Lane Glenn Heights, TX 2
    • 4 beds 3 baths ∙ 2,938 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,938 Sqft ∙ Built 2004
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.73
    •  
  • 219 Jacob Court Glenn Heights, TX 4
    • 4 beds 3 baths ∙ 2,942 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,942 Sqft ∙ Built 2001
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,285
    • $0.78
    •  
  • 217 Gatehouse Drive Red Oak, TX 5
    • 4 beds 3 baths ∙ 2,775 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,775 Sqft ∙ Built 2008
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,325
    • $0.84
    •  
PROPERTY LISTING DETAILS
April Maki
Gehan Homes Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470824
Last Updated: 12/05/2020
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