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221 East Street Josephine, TX 75173

4 Beds 2 Baths 1,714 sqft Built 2018

$235,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $137.11
  • 5 Days on Market
  • MLS # : 14461530
  • Updated Date : 11/02/2020 at 18:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,714 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Definitely wont last long.... Beautiful well maintain 4 Bedroom, 2 Full Bath home with 2 Car Garage and over .33 acre of land. 4 Bedrooms allows the possibilities of having 2 home offices while still having a Master and secondary bedroom. Master bath is a relaxing retreat with Jetted tub, separate shower and separate sink and vanities. Master Bedroom is spacious and has a large walk in closet. Huge backyard that has room for a pool, shed and more Very few homes in the area will have .33 area lots and less than 3 years old.

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: 75173

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $107k322k

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

Zip Code: 75173

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7191741

* 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
Phyliss Nesmith Elementary School Primary Regular 469 26 7
Edge Middle School Middle Regular 441 26 4
Community High School High Regular 507 39 6

Phyliss Nesmith Elementary School

  • Education Level: Primary
  • # of students: 469
  • # of teachers: 26
7
GreatSchools Rating

Edge Middle School

  • Education Level: Middle
  • # of students: 441
  • # of teachers: 26
4
GreatSchools Rating

Community High School

  • Education Level: High
  • # of students: 507
  • # of teachers: 39
6
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$867
Property Tax -$470
Property Insurance -$126
Property Management Fees -$99
CASH FLOW
$58

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.

$235,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.7%
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$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

5.83

YEARS SAVED

$18,293

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,743

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,620
1$1,6202$1,6503$1,7004$1,750
$1,750
RENT COMPS ANALYSIS
  • 221 East Street Josephine, TX 1
    • 4 beds 2 baths ∙ 1,714 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,714 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.95
    •  
  • 303 Plum Drive Josephine, TX 2
    • 4 beds 2 baths ∙ 1,591 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,591 Sqft ∙ Built 2016
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.04
    •  
  • 308 Saw Mill Road Josephine, TX 3
    • 4 beds 2 baths ∙ 1,577 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,577 Sqft ∙ Built 2019
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.08
    •  
  • 500 Milo Way Josephine, TX 4
    • 4 beds 2 baths ∙ 1,891 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,891 Sqft ∙ Built 2019
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.93
    •  
PROPERTY LISTING DETAILS
Will Snead
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14461530
Last Updated: 11/02/2020
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