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2213 Creek Crossing Drive Corinth, TX 76210

4 Beds 3 Baths 2,661 sqft Built 2000

$400,000

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $150.32
  • 4 Days on Market
  • MLS # : 14469506
  • Updated Date : 11/14/2020 at 13:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,661 sqft
  • Baths : 3 full
Listing Agent

Era Cornerstone Realty

Listing Agent's Description

Come see this meticulously kept home in a sought after, quiet neighborhood. You’ll love this 4 bedroom home with 3 full baths featuring an open kitchen overlooking an inviting living room. Throughout the home you’ll find several upgrades the sellers have made for the next owners including brand new granite countertops, lighting fixtures, and paint. The master bedroom boasts a spacious walk in closet and dual vanity sinks with the remaining rooms offering ample area themselves. Large windows letting in natural light perfectly compliment this open floor-plan. Outside you can entertain in the covered patio area surrounded by beautiful landscaping around the home. Just minutes away from shopping and access to I35.

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

Neighborhood: Lake Bluff Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k451k

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

Neighborhood: Lake Bluff Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262636

* 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
 

$360,000$440,000$400,000

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,476
Property Tax -$809
Property Insurance -$181
HOA -$36
Property Management Fees -$99
CASH FLOW
-$311

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.

$400,000

PROJECTED PRICE

$2,290

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.8%
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-$10k-$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$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$3,008

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,355

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,2003$2,2904$2,5505$2,690
$2,690
RENT COMPS ANALYSIS
  • 2213 Creek Crossing Drive Corinth, TX 3
    • 4 beds 3 baths ∙ 2,661 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,661 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $0.86
    •  
  • 3300 Juneau Drive Corinth, TX 1
    • 4 beds 2 baths ∙ 2,393 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,393 Sqft ∙ Built 2004
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.83
    •  
  • 1810 Manchester Way Corinth, TX 2
    • 4 beds 2 baths ∙ 2,431 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,431 Sqft ∙ Built 2000
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.90
    •  
  • 118 Saratoga Drive Hickory Creek, TX 4
    • 5 beds 3 baths ∙ 2,905 Sqft ∙ Built 2016 5 beds 3 baths ∙ 2,905 Sqft ∙ Built 2016
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.88
    •  
  • 3351 Forest Glen Drive Corinth, TX 5
    • 4 beds 3 baths ∙ 2,897 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,897 Sqft ∙ Built 1982
    LEASED 08/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,690
    • $0.93
    •  
PROPERTY LISTING DETAILS
Andrew Clark
Era Cornerstone Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469506
Last Updated: 11/14/2020
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