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213 Odell Road Springtown, TX 76082

3 Beds 3 Baths 2,357 sqft Built 2020

$359,000

List Price

$2,540

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $152.31
  • 3 Days on Market
  • MLS # : 14495944
  • Updated Date : 01/08/2021 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,357 sqft
  • Baths : 2 full , 1 half
Listing Agent

Engel & Volkers Fort Worth

Listing Agent's Description

Brand new single story, custom home one 1 Acre in the popular community of Rocky Creek! Granite countertops in the kitchen, abundant cabinetry, foam insulation and custom trim work. Family prioritized floorplan with a large kitchen island open to the living, dining and tall windows overlooking the covered patio. Large walk in master shower, separate tub and huge master closet. Access to large laundry room off master closet along with a 3 car garage and mudroom. Zoom Room with doors in entry can also serve as a formal Dining or Living. Sold directly by builder....changes can be made to suit your needs! Located in Parker County with Springtown schools. Buyer to verify schools, taxes and room dimensions.

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: 76082

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 76082

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8791734

* 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
Goshen Creek Elementary School Primary Regular 539 32 5
Springtown Middle School Middle Regular 530 35 6
Springtown High School High Regular 912 72 5

Goshen Creek Elementary School

  • Education Level: Primary
  • # of students: 539
  • # of teachers: 32
5
GreatSchools Rating

Springtown Middle School

  • Education Level: Middle
  • # of students: 530
  • # of teachers: 35
6
GreatSchools Rating

Springtown High School

  • Education Level: High
  • # of students: 912
  • # of teachers: 72
5
GreatSchools Rating
 

$323,100$394,900$359,000

PURCHASE PRICE

$2,286$2,794$2,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,540
EXPENSES Loan Payment -$1,247
Property Tax -$746
Property Insurance -$163
HOA -$25
Property Management Fees -$99
CASH FLOW
$260

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.

$359,000

PROJECTED PRICE

$2,540

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$97,135

INVESTMENT

$97,135

Down Payment
$89,750
Rehab Estimate
$2,000
Closing Costs
$5,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,247

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,750
Loan Amount $269,250
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$40,865

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,540

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $2,546

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,540
$2,540
RENT COMPS ANALYSIS
  • 213 Odell Road Springtown, TX 2
    • 3 beds 3 baths ∙ 2,357 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,357 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $1.08
    •  
  • 2048 Dash Lane Springtown, TX 1
    • 3 beds 2 baths ∙ 2,315 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,315 Sqft ∙ Built 2018
    LEASED 10/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.08
    •  
PROPERTY LISTING DETAILS
Cassandra Hughes
Engel & Volkers Fort Worth
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14495944
Last Updated: 01/08/2021
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