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217 Rees Avenue Godley, TX 76044

4 Beds 2 Baths 1,951 sqft Built 2017

$317,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $162.48
  • 7 Days on Market
  • MLS # : 14505722
  • Updated Date : 01/25/2021 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,951 sqft
  • Baths : 2 full
Listing Agent

The Cates Group

Listing Agent's Description

Gorgeous 4 bed, 2 bath, 2 car garage home with oversized 13x22 back patio in Godley Heights. All new paint throughout, beautiful wood looking ceramic tile floors, energy efficient, open kitchen, living room, wood beams in living room ceiling. This home won’t last long!! Buyer and buyers agent to verify all information. Information deemed reliable but not guaranteed.

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

Zip Code: 76044

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $108k243k

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

Zip Code: 76044

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9821734

* 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
Godley Elementary School Primary Regular 627 42 3
Godley Middle School Middle Regular 282 22 5
Godley High School High Regular 526 42 4

Godley Elementary School

  • Education Level: Primary
  • # of students: 627
  • # of teachers: 42
3
GreatSchools Rating

Godley Middle School

  • Education Level: Middle
  • # of students: 282
  • # of teachers: 22
5
GreatSchools Rating

Godley High School

  • Education Level: High
  • # of students: 526
  • # of teachers: 42
4
GreatSchools Rating
 

$285,300$348,700$317,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,101
Property Tax -$696
Property Insurance -$140
HOA -$15
Property Management Fees -$99
CASH FLOW
-$410

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.

$317,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.1%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,755

INVESTMENT

$89,755

Down Payment
$79,250
Rehab Estimate
$5,750
Closing Costs
$4,755

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,101

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,250
Loan Amount $237,750
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$37

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,931

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,640
1$1,6402$1,775
$1,775
RENT COMPS ANALYSIS
  • 217 Rees Avenue Godley, TX 1
    • 4 beds 2 baths ∙ 1,951 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,951 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.84
    •  
  • 222 Rees Avenue Godley, TX 2
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2018
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.99
    •  
PROPERTY LISTING DETAILS
Robin Tyler
The Cates Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14505722
Last Updated: 01/25/2021
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