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2305 Marshall Road Waxahachie, TX 75167

3 Beds 3 Baths 2,383 sqft Built 2004

$550,000

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $230.80
  • 4 Days on Market
  • MLS # : 14503516
  • Updated Date : 01/23/2021 at 09:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,383 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Realty Group

Listing Agent's Description

Unique Property! This Austin stone and brick home has 3 bedrooms, 2 and half baths with a study and dining room in the main house and a guest house with 2 bedrooms, a kitchen, living area, bath and utility room. All of this on 26 acres to spread out. This home is an open concept floor plan with the kitchen having granite counters, stainless steel appliances, built in wine rack and a breakfast bar. The spacious master has a walk in closet, dual sinks, a jetted tub and separate shower and water closet. Split bedroom plan. The back porch is covered and has a great view of the land, green house and garden. The gazebo and outdoor fireplace is perfect for gatherings! You can have goats, cattle, sheep or horses.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Zip Code: 75167

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $116k253k

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

Zip Code: 75167

ZipNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10122077

* 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
Wedgeworth Elementary School Primary Regular 749 45 6
Finley Junior High School Middle Regular 882 64 5
Waxahachie High School High Regular 1,985 138 4

Wedgeworth Elementary School

  • Education Level: Primary
  • # of students: 749
  • # of teachers: 45
6
GreatSchools Rating

Finley Junior High School

  • Education Level: Middle
  • # of students: 882
  • # of teachers: 64
5
GreatSchools Rating

Waxahachie High School

  • Education Level: High
  • # of students: 1,985
  • # of teachers: 138
4
GreatSchools Rating
 

$495,000$605,000$550,000

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 -$1,910
Property Tax -$1,194
Property Insurance -$165
Property Management Fees -$99
CASH FLOW
-$1,078

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.

$550,000

PROJECTED PRICE

$2,290

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.1%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$45

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
  • $0.96

    LIST RENT PER SQFT
  • $2,383

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,2503$2,290
$2,290
RENT COMPS ANALYSIS
  • 2305 Marshall Road Waxahachie, TX 3
    • 3 beds 3 baths ∙ 2,383 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,383 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $0.96
    •  
  • 101 Buckskin Drive Waxahachie, TX 1
    • 3 beds 2 baths ∙ 2,165 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,165 Sqft ∙ Built 2005
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.92
    •  
  • 222 Dakota Drive Waxahachie, TX 2
    • 3 beds 2 baths ∙ 2,082 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,082 Sqft ∙ Built 2016
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.08
    •  
PROPERTY LISTING DETAILS
Melissa Jones
Re/max Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14503516
Last Updated: 01/23/2021
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