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2110 Venice Corinth, TX 76210

4 Beds 5 Baths 3,795 sqft Built 2020

$594,304

List Price

$2,790

$2.5K - $3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $156.60
  • 6 Days on Market
  • MLS # : 14498444
  • Updated Date : 01/12/2021 at 12:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,795 sqft
  • Baths : 4 full , 1 half
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14498444 - Built by First Texas Homes - March completion! ~ Beautiful open floor plan with a stunning spiral staircase overlooking a large family room, beautiful fireplace. This home features a gourmet kitchen and butlers pantry with stainless steel appliances, a five burner gas cooktop, double convection ovens and plenty of additional storage. Entertainers will love this large lot and extended covered patio to sit back and relax with the peaceful view!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Zip Code: 76210

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 76210

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9322171

* 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
Corinth Elementary School Primary Regular 554 40 5
Lake Dallas Middle School Middle Regular 941 65 7
Lake Dallas High School High Regular 1,275 79 6

Corinth Elementary School

  • Education Level: Primary
  • # of students: 554
  • # of teachers: 40
5
GreatSchools Rating

Lake Dallas Middle School

  • Education Level: Middle
  • # of students: 941
  • # of teachers: 65
7
GreatSchools Rating

Lake Dallas High School

  • Education Level: High
  • # of students: 1,275
  • # of teachers: 79
6
GreatSchools Rating
 

$534,874$653,734$594,304

PURCHASE PRICE

$2,511$3,069$2,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,790
EXPENSES Loan Payment -$2,064
Property Tax -$1,182
Property Insurance -$246
HOA -$50
Property Management Fees -$99
CASH FLOW
-$851

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$594,304

PROJECTED PRICE

$2,790

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$159,491

INVESTMENT

$159,491

Down Payment
$148,576
Rehab Estimate
$2,000
Closing Costs
$8,915

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,064

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $148,576
Loan Amount $445,728
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$22

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,790

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,808

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,7903$3,100
$3,100
RENT COMPS ANALYSIS
  • 2110 Venice Corinth, TX 2
    • 4 beds 5 baths ∙ 3,795 Sqft ∙ Built 2020 4 beds 5 baths ∙ 3,795 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,790
    • $0.74
    •  
  • 3327 Andalusian Drive Denton, TX 1
    • 5 beds 4 baths ∙ 3,759 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,759 Sqft ∙ Built 2004
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.67
    •  
  • 1115 Ardglass Trail Corinth, TX 3
    • 4 beds 4 baths ∙ 3,837 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,837 Sqft ∙ Built 2015
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.81
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14498444
Last Updated: 01/12/2021
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