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225 Briar Creek Drive Crandall, TX 75114

3 Beds 2 Baths 1,338 sqft Built 1988

INVESTimate

$169,900

List Price

$1,400

$1,260 - $1,540

Rent Est.

$182,507  ( +7.42%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 1988
  • Price/Sqft : $126.98
  • 1 Days on Market
  • MLS # : 14420986
  • Updated Date : 08/25/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,338 sqft
  • Baths : 1 full , 1 half
Listing Agent

Lochhead Properties

Listing Agent's Description

Great home for your family in sought out Crandall ISD!!! Kitchen has been beautifully updated within the last month with soft close cabinetry, subway tile back splash, granite counter top, stainless steel sink, and dishwasher. Plantation blinds in living room, laminate flooring and can lighting. Solar panels to save on your energy costs. AC was replaced in 2012. Front and back exterior doors were replaced in 2019. Garage is ready for a conversion or you can easily put back garage door. Garden Barn style shed stays with property it is approximately 10 by 12. Back yard is over sized ready for your enjoyment. A must see.

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: Briar Creek Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $75k243k

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

Neighborhood: Briar Creek Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451767

* 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
W A Martin Elementary School Primary Regular 481 26 5
Crandall Middle School Middle Regular 746 47 5
Crandall High School High Regular 921 52 5

W A Martin Elementary School

  • Education Level: Primary
  • # of students: 481
  • # of teachers: 26
5
GreatSchools Rating

Crandall Middle School

  • Education Level: Middle
  • # of students: 746
  • # of teachers: 47
5
GreatSchools Rating

Crandall High School

  • Education Level: High
  • # of students: 921
  • # of teachers: 52
5
GreatSchools Rating
 

$152,910$186,890$169,900

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$627
Property Tax -$429
Property Insurance -$105
Property Management Fees -$99
CASH FLOW
$141

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.

$169,900

PROJECTED PRICE

$1,400

PROJECTED RENT

0.82%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.42%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,774

INVESTMENT

$50,774

Down Payment
$42,475
Rehab Estimate
$5,750
Closing Costs
$2,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$627

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $42,475
Loan Amount $127,425
See What Happens When You Reinvest Cash Flow

8.17

YEARS SAVED

$21,075

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,371

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4003$1,550
$1,550
RENT COMPS ANALYSIS
  • 225 Briar Creek Drive Crandall, TX 2
    • 3 beds 2 baths ∙ 1,338 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,338 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.05
    •  
  • 206 Doris Street Crandall, TX 1
    • 3 beds 2 baths ∙ 1,306 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,306 Sqft ∙ Built 1972
    LEASED 08/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.03
    •  
  • 112 Angelina Drive Crandall, TX 3
    • 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 2002
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.02
    •  
PROPERTY LISTING DETAILS
Sandra Robinson
Lochhead Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14420986
Last Updated: 08/25/2020
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