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2301 Springhill Court Mineral Wells, TX 76067

3 Beds 2 Baths 1,354 sqft Built 2009

$230,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $169.87
  • 5 Days on Market
  • MLS # : 14521209
  • Updated Date : 02/24/2021 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,354 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty, Llc

Listing Agent's Description

Nice 3-2-2 home in the beautiful Springhill addition of Mineral Wells. This home features a nice sized living room, dining area with bay window that overlooks the backyard. The main bedroom features a large beautiful arched window with views of the neighborhood. Buyer and buyers agent to verify all information on this MLS sheet, flyer or website including but not limited to schools, square footage, acres, taxes, easements and minerals.

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: 76067

ZipCityMarket2010Year2005 Q3201970k80k90k100k110k120k130k140k150k160kPrice in $64k162k

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

Zip Code: 76067

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
Houston Elementary School Primary Regular 567 37 3
Mineral Wells Junior High School Middle Regular 506 39 5
Mineral Wells High School High Regular 887 66 4

Houston Elementary School

  • Education Level: Primary
  • # of students: 567
  • # of teachers: 37
3
GreatSchools Rating

Mineral Wells Junior High School

  • Education Level: Middle
  • # of students: 506
  • # of teachers: 39
5
GreatSchools Rating

Mineral Wells High School

  • Education Level: High
  • # of students: 887
  • # of teachers: 66
4
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$799
Property Tax -$532
Property Insurance -$102
Property Management Fees -$99
CASH FLOW
-$183

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.

$230,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 2.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$5.0k-$4.0k-$3.0k-$2.0k-$1.0k$0.0$1.0k$2.0k

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$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$264

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,327

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,395
$1,395
RENT COMPS ANALYSIS
  • 2301 Springhill Court Mineral Wells, TX 1
    • 3 beds 2 baths ∙ 1,354 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,354 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.00
    •  
  • 1106 12th Street Mineral Wells, TX 2
    • 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 2010
    LEASED 10/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.98
    •  
PROPERTY LISTING DETAILS
Mary Ann Bevers
Fathom Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521209
Last Updated: 02/24/2021
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