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220 Greenhill Street Glenn Heights, TX 75154

3 Beds 2 Baths 1,606 sqft Built 2020

$274,002

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $170.61
  • 2 Days on Market
  • MLS # : 14470826
  • Updated Date : 12/05/2020 at 02:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,606 sqft
  • Baths : 2 full
Listing Agent

Gehan Homes Brokerage, Llc

Listing Agent's Description

Most popular Single Story Gray Point Home floor plan in the neighborhood with professionally designed selections. Beautifully landscaped with an extended patio and sits on a corner lot.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Zip Code: 75154

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $110k243k

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

Zip Code: 75154

ZipNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550160016501700Rent in $10151734

* 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
D.t. Shields Elementary School Primary Regular 563 33 6
Red Oak Junior High School Middle Regular 872 52 6
Red Oak High School High Regular 1,794 115 5

D.t. Shields Elementary School

  • Education Level: Primary
  • # of students: 563
  • # of teachers: 33
6
GreatSchools Rating

Red Oak Junior High School

  • Education Level: Middle
  • # of students: 872
  • # of teachers: 52
6
GreatSchools Rating

Red Oak High School

  • Education Level: High
  • # of students: 1,794
  • # of teachers: 115
5
GreatSchools Rating
 

$246,602$301,402$274,002

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,011
Property Tax -$597
Property Insurance -$120
HOA -$50
Property Management Fees -$99
CASH FLOW
-$317

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.

$274,002

PROJECTED PRICE

$1,560

PROJECTED RENT

0.57%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,611

INVESTMENT

$74,611

Down Payment
$68,501
Rehab Estimate
$2,000
Closing Costs
$4,110

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,011

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,501
Loan Amount $205,502
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$274

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,570

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,560
1$1,5602$1,6453$1,6954$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 220 Greenhill Street Glenn Heights, TX 1
    • 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.97
    •  
  • 1818 Citadel Drive Glenn Heights, TX 2
    • 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 2000
    property image
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.95
    •  
  • 1903 Purdue Drive Glenn Heights, TX 3
    • 4 beds 3 baths ∙ 1,792 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,792 Sqft ∙ Built 2000
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.95
    •  
  • 205 Dancing Light Lane Red Oak, TX 4
    • 3 beds 2 baths ∙ 1,818 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,818 Sqft ∙ Built 2007
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.99
    •  
  • 2004 Autumn Drive Glenn Heights, TX 5
    • 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 2018
    property image
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.02
    •  
PROPERTY LISTING DETAILS
April Maki
Gehan Homes Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470826
Last Updated: 12/05/2020
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