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220 Chimney Rock Drive Waxahachie, TX 75167

3 Beds 2 Baths 1,590 sqft Built 2015

$246,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $154.72
  • 3 Days on Market
  • MLS # : 14527343
  • Updated Date : 03/05/2021 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,590 sqft
  • Baths : 2 full
Listing Agent

Susy Saldivar Real Estate

Listing Agent's Description

VERY NICE HOME! Well maintained and meticulous! This beautiful home has an open floor plan with granite countertops, brick and stone elevation, pull out windows for easy cleaning, split floor plan, covered patio, sprinkler system, garden tub, separate shower, ceramic tile and Armstrong vinyl plank flooring, kitchen island with a breakfast bar.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 75167

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $116k253k

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

Zip Code: 75167

ZipNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10122077

* 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
Wedgeworth Elementary School Primary Regular 749 45 6
Finley Junior High School Middle Regular 882 64 5
Waxahachie High School High Regular 1,985 138 4

Wedgeworth Elementary School

  • Education Level: Primary
  • # of students: 749
  • # of teachers: 45
6
GreatSchools Rating

Finley Junior High School

  • Education Level: Middle
  • # of students: 882
  • # of teachers: 64
5
GreatSchools Rating

Waxahachie High School

  • Education Level: High
  • # of students: 1,985
  • # of teachers: 138
4
GreatSchools Rating
 

$221,400$270,600$246,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$854
Property Tax -$534
Property Insurance -$119
HOA -$24
Property Management Fees -$99
CASH FLOW
$49

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.

$246,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.1%
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$100k$200k$300k$400k$500k$600k$700k$800k

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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,940

INVESTMENT

$70,940

Down Payment
$61,500
Rehab Estimate
$5,750
Closing Costs
$3,690

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$854

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,500
Loan Amount $184,500
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$14,141

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,685

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,6254$1,6805$1,700
$1,700
RENT COMPS ANALYSIS
  • 220 Chimney Rock Drive Waxahachie, TX 4
    • 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $1.06
    •  
  • 123 Old Settlers Trail Waxahachie, TX 1
    • 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 2004
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.06
    •  
  • 213 Old Spanish Trail Waxahachie, TX 2
    • 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 2015
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.06
    •  
  • 112 Oregon Trail Waxahachie, TX 3
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 2007
    LEASED 03/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.04
    •  
  • 219 Old Spanish Trail Waxahachie, TX 5
    • 4 beds 2 baths ∙ 1,578 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,578 Sqft ∙ Built 2014
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.08
    •  
PROPERTY LISTING DETAILS
Susy Saldivar
Susy Saldivar Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14527343
Last Updated: 03/05/2021
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