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2309 Wisterwood Lane Crandall, TX 75114

4 Beds 3 Baths 1,517 sqft Built 2020

$294,902

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $194.40
  • 7 Days on Market
  • MLS # : 14491205
  • Updated Date : 12/28/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,517 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Proadvantage

Listing Agent's Description

Beautiful Cascade Floor plan with all the extras. Home features 4 bed 2.5 bath w a 2 car garage plus study and game room. Home includes Upgraded wood floors, Master bath with tub and shower, and back covered patio. Home to be complete December 2020. *Days on market is based on start of construction.*

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Zip Code: 75114

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $107k243k

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

Zip Code: 75114

ZipNIR Market*CityMarket2010Year20002019 Q21150120012501300135014001450150015501600165017001750Rent in $11261767

* 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
Nola Kathryn Wilson Elementary School Primary Regular 539 33 5
Crandall Middle School Middle Regular 746 47 5
Crandall High School High Regular 921 52 5

Nola Kathryn Wilson Elementary School

  • Education Level: Primary
  • # of students: 539
  • # of teachers: 33
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
 

$265,412$324,392$294,902

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,088
Property Tax -$744
Property Insurance -$115
HOA -$50
Property Management Fees -$99
CASH FLOW
-$556

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$294,902

PROJECTED PRICE

$1,540

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 3.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$80,149

INVESTMENT

$80,149

Down Payment
$73,726
Rehab Estimate
$2,000
Closing Costs
$4,424

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,726
Loan Amount $221,177
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$16

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,509

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,540
1$1,5402$1,5503$1,625
$1,625
RENT COMPS ANALYSIS
  • 2309 Wisterwood Lane Crandall, TX 1
    • 4 beds 3 baths ∙ 1,517 Sqft ∙ Built 2020 4 beds 3 baths ∙ 1,517 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $1.02
    •  
  • 112 Angelina Drive Crandall, TX 2
    • 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
    •  
  • 209 Angelina Drive Crandall, TX 3
    • 4 beds 2 baths ∙ 1,676 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,676 Sqft ∙ Built 2004
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.97
    •  
PROPERTY LISTING DETAILS
Ginger Weeks
Re/max Proadvantage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14491205
Last Updated: 12/28/2020
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