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220 N 3rd Street Wills Point, TX 75169

3 Beds 2 Baths 1,760 sqft Built 1980

$144,900

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $82.33
  • 2 Days on Market
  • MLS # : 14490686
  • Updated Date : 12/27/2020 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,760 sqft
  • Baths : 2 full
Listing Agent

Bluemark, Llc

Listing Agent's Description

This home has 3 bedroms and 2 baths, has been renovated and is ready to move.

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: 75169

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140kPrice in $72k145k

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

Zip Code: 75169

No Data Available.

* 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
Earnest O Woods Intermediate School Primary Regular 515 38 4
Wills Point Junior High School Middle Regular 388 26 6
Wills Point High School High Regular 725 54 3

Earnest O Woods Intermediate School

  • Education Level: Primary
  • # of students: 515
  • # of teachers: 38
4
GreatSchools Rating

Wills Point Junior High School

  • Education Level: Middle
  • # of students: 388
  • # of teachers: 26
6
GreatSchools Rating

Wills Point High School

  • Education Level: High
  • # of students: 725
  • # of teachers: 54
3
GreatSchools Rating
 

$130,410$159,390$144,900

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$535
Property Tax -$316
Property Insurance -$125
Property Management Fees -$99
CASH FLOW
$445

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.

$144,900

PROJECTED PRICE

$1,520

PROJECTED RENT

1.05%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 9.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$44,149

INVESTMENT

$44,149

Down Payment
$36,225
Rehab Estimate
$5,750
Closing Costs
$2,174

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$535

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $36,225
Loan Amount $108,675
See What Happens When You Reinvest Cash Flow

15.58

YEARS SAVED

$43,867

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,514

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,3253$1,4004$1,520
$1,520
RENT COMPS ANALYSIS
  • 220 N 3rd Street Wills Point, TX 4
    • 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.86
    •  
  • 1008 Pecan Avenue Wills Point, TX 1
    • 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 1969
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.84
    •  
  • 950 Fm 2965 Wills Point, TX 2
    • 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1973
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.88
    •  
  • 910 Fm 2965 Wills Point, TX 3
    • 3 beds 2 baths ∙ 1,626 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,626 Sqft ∙ Built 1973
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.86
    •  
PROPERTY LISTING DETAILS
Romeo Bonilla
Bluemark, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14490686
Last Updated: 12/27/2020
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