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2304 Errol Street Anna, TX 75409

3 Beds 2 Baths 1,603 sqft Built 2020

INVESTimate

$275,900

List Price

$1,580

$1,422 - $1,738

Rent Est.

$302,580  ( +9.67%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $172.11
  • 5 Days on Market
  • MLS # : 14418967
  • Updated Date : 08/22/2020 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,603 sqft
  • Baths : 2 full
Listing Agent

Pacesetter Homes

Listing Agent's Description

MLS# 14418967 - Built by Pacesetter Homes - November completion! ~ Under Construction-PACESETTER HOMES-The Prosper is a 3 bed 2 bath delight! This home featured upgrades galore, granite counter tops, luxury vinyl floors throughout, stone on elevation, full gutters, pendant lights over island, painted brick fireplace, trash pull out drawer, pot and pan drawers, extended master suite, extended covered patio, all pack a punch in this little beauty!

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: 75409

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $107k336k

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

Zip Code: 75409

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9042171

* 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
Anna High School High Regular 705 48 5

Anna High School

  • Education Level: High
  • # of students: 705
  • # of teachers: 48
5
GreatSchools Rating
 

$248,310$303,490$275,900

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$1,018
Property Tax -$555
Property Insurance -$120
HOA -$50
Property Management Fees -$99
CASH FLOW
-$262

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$275,900

PROJECTED PRICE

$1,580

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.67%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,114

INVESTMENT

$75,114

Down Payment
$68,975
Rehab Estimate
$2,000
Closing Costs
$4,139

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,018

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,975
Loan Amount $206,925
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$995

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,583

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5503$1,5804$1,7755$1,850
$1,850
RENT COMPS ANALYSIS
  • 2304 Errol Street Anna, TX 3
    • 3 beds 2 baths ∙ 1,603 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,603 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.99
    •  
  • 930 Hazels Way Anna, TX 1
    • 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 2006
    property image
    LEASED 08/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.95
    •  
  • 913 Hazels Way Anna, TX 2
    • 4 beds 2 baths ∙ 1,607 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,607 Sqft ∙ Built 2014
    property image
    LEASED 08/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.96
    •  
  • 1310 Rendyn Street Anna, TX 4
    • 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 2017
    property image
    LEASED 08/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.05
    •  
  • 2617 Hillrich Drive Anna, TX 5
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2017
    property image
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.99
    •  
PROPERTY LISTING DETAILS
Dennis Ciani
Pacesetter Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418967
Last Updated: 08/22/2020
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