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218 Golden Sands Lane Princeton, TX 75407

4 Beds 3 Baths 2,586 sqft Built 2020

$295,900

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $114.42
  • 3 Days on Market
  • MLS # : 14467152
  • Updated Date : 11/06/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,586 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lgi Homes

Listing Agent's Description

The Oakmont is a beautiful two-story home located in the desirable neighborhood of Princeton Crossroads. Inside this brand-new, four-bedroom and two-and-a-half bath home you will find a host of included upgrades, such as energy-efficient kitchen appliances, granite countertops, designer 42 upper wood cabinets and an attached two-car garage with a Wi-Fi-enabled opener installed. The Oakmont features an open floor plan with a chef-ready kitchen and large dining area that looks out to the living room. You’ll love the convenience of the main floor master suite and the added space of the large upstairs game room. Each home at Princeton Crossroads comes with a fully fenced backyard and front yard landscaping.

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: 75407

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $114k243k

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

Zip Code: 75407

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8671734

* 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
Godwin Elementary School Primary Regular 683 40 8
Clark Junior High School Middle Regular 540 33 8
Princeton High School High Regular 1,048 67 6

Godwin Elementary School

  • Education Level: Primary
  • # of students: 683
  • # of teachers: 40
8
GreatSchools Rating

Clark Junior High School

  • Education Level: Middle
  • # of students: 540
  • # of teachers: 33
8
GreatSchools Rating

Princeton High School

  • Education Level: High
  • # of students: 1,048
  • # of teachers: 67
6
GreatSchools Rating
 

$266,310$325,490$295,900

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,092
Property Tax -$617
Property Insurance -$177
HOA -$25
Property Management Fees -$99
CASH FLOW
-$29

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.

$295,900

PROJECTED PRICE

$1,980

PROJECTED RENT

0.67%

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$80,414

INVESTMENT

$80,414

Down Payment
$73,975
Rehab Estimate
$2,000
Closing Costs
$4,439

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,092

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,975
Loan Amount $221,925
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$13,341

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,030

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9803$1,995
$1,995
RENT COMPS ANALYSIS
  • 218 Golden Sands Lane Princeton, TX 2
    • 4 beds 3 baths ∙ 2,586 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,586 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.77
    •  
  • 787 Myrtle Lane Princeton, TX 1
    • 5 beds 3 baths ∙ 2,339 Sqft ∙ Built 2020 5 beds 3 baths ∙ 2,339 Sqft ∙ Built 2020
    property image
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.83
    •  
  • 1410 Cordova Drive Princeton, TX 3
    • 5 beds 3 baths ∙ 2,700 Sqft ∙ Built 2019 5 beds 3 baths ∙ 2,700 Sqft ∙ Built 2019
    property image
    LEASED 05/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.74
    •  
PROPERTY LISTING DETAILS
Mona Hill
Lgi Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467152
Last Updated: 11/06/2020
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