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2207 Barton Springs Drive Corinth, TX 76210

4 Beds 3 Baths 2,995 sqft Built 1997

$369,900

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $123.51
  • 4 Days on Market
  • MLS # : 14540270
  • Updated Date : 03/26/2021 at 09:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,995 sqft
  • Baths : 2 full , 1 half
Listing Agent

The Sales Team, Realtors

Listing Agent's Description

WOW! BEAUTIFUL home in Corinth! So many upgrades that you will LOVE! Hand-scraped Oak floors, a completely updated kitchen with TONS of storage, 2 living areas and a separate dining area make the first floor the HEART of the home! HUGE laundry room with built in cabinets and sink! Upstairs you will LOVE the media room and GREAT SIZED bedrooms! The master bath makes you feel like your at the spa with it's DOUBLE vanities and LARGE tile shower complete with a RAIN showerhead! You will enjoy spending time in the LARGE backyard with a covered porch as well as a flagstone patio! Don't miss out on this one!

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

Neighborhood: Fairview West

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Fairview West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9062171

* 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
Corinth Elementary School Primary Regular 554 40 5
Lake Dallas Middle School Middle Regular 941 65 7
Lake Dallas High School High Regular 1,275 79 6

Corinth Elementary School

  • Education Level: Primary
  • # of students: 554
  • # of teachers: 40
5
GreatSchools Rating

Lake Dallas Middle School

  • Education Level: Middle
  • # of students: 941
  • # of teachers: 65
7
GreatSchools Rating

Lake Dallas High School

  • Education Level: High
  • # of students: 1,275
  • # of teachers: 79
6
GreatSchools Rating
 

$332,910$406,890$369,900

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,285
Property Tax -$748
Property Insurance -$200
Property Management Fees -$99
CASH FLOW
-$192

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$369,900

PROJECTED PRICE

$2,140

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 10.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,774

INVESTMENT

$103,774

Down Payment
$92,475
Rehab Estimate
$5,750
Closing Costs
$5,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,475
Loan Amount $277,425
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$4,746

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,321

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,075
1$2,0752$2,1003$2,1404$2,1455$2,500
$2,500
RENT COMPS ANALYSIS
  • 2207 Barton Springs Drive Corinth, TX 3
    • 4 beds 3 baths ∙ 2,995 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,995 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.71
    •  
  • 3705 Saint Johns Drive Denton, TX 1
    • 4 beds 3 baths ∙ 2,748 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,748 Sqft ∙ Built 1999
    LEASED 02/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.76
    •  
  • 2727 Windstone Way Corinth, TX 2
    • 4 beds 3 baths ∙ 2,899 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,899 Sqft ∙ Built 1997
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.72
    •  
  • 3704 Drexel Drive Denton, TX 4
    • 4 beds 4 baths ∙ 2,844 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,844 Sqft ∙ Built 2006
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $0.75
    •  
  • 1908 Covington Lane Corinth, TX 5
    • 4 beds 3 baths ∙ 2,876 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,876 Sqft ∙ Built 2001
    LEASED 03/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.87
    •  
PROPERTY LISTING DETAILS
Nathan Pinkerton
The Sales Team, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14540270
Last Updated: 03/26/2021
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