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2318 Cedar Crest Drive Abilene, TX 79601

4 Beds 2 Baths 1,430 sqft Built 2017

$180,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $125.87
  • 4 Days on Market
  • MLS # : 14490453
  • Updated Date : 12/24/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,430 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Specifically designed as a residential rental investment property. This great property has a layout that works well for 4 people. You will step inside into the living room. The living room is open to the dining area and the kitchen. Each side of the living area leads to a hallway with 1 bedroom on each side and a bathroom in between. There is not a master bedroom. All 4 are very similar. Ceramic tile throughout the house for a long lasting, easy to clean surface. Outside of each bedroom there is a linen cabinet to allow for individualized storage. The kitchen has space to one side for a full size washer and dryer. This property does not have a fence.

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: Abilene Heights

NeighborhoodNIR Market*CityMarket2010Year2005 Q3201970k80k90k100k110k120k130k140kPrice in $66k147k

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

Neighborhood: Abilene Heights

NeighborhoodNIR Market*CityMarket2015Year20112019 Q285090095010001050110011501200Rent in $8171240

* 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
Taylor Elementary School Primary Regular 600 34 5
Craig Middle School Middle Regular 911 61 4
Abilene High School High Regular 1,925 131 4

Taylor Elementary School

  • Education Level: Primary
  • # of students: 600
  • # of teachers: 34
5
GreatSchools Rating

Craig Middle School

  • Education Level: Middle
  • # of students: 911
  • # of teachers: 61
4
GreatSchools Rating

Abilene High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 131
4
GreatSchools Rating
 

$162,000$198,000$180,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$664
Property Tax -$388
Property Insurance -$109
Property Management Fees -$99
CASH FLOW
$171

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 18% of earned rent to cover both maintenance and periods of vacancy.

$180,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.79%

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 9.90%
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-$2.0k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,450

INVESTMENT

$53,450

Down Payment
$45,000
Rehab Estimate
$5,750
Closing Costs
$2,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$664

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $45,000
Loan Amount $135,000
See What Happens When You Reinvest Cash Flow

5.92

YEARS SAVED

$13,719

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,392

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3953$1,4304$1,500
$1,500
RENT COMPS ANALYSIS
  • 2318 Cedar Crest Drive Abilene, TX 3
    • 4 beds 2 baths ∙ 1,430 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,430 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $1.00
    •  
  • 2326 Cedar Crest Drive Abilene, TX 1
    • 4 beds 2 baths ∙ 1,430 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,430 Sqft ∙ Built 2017
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.94
    •  
  • 2126 Patriot Commons Road Abilene, TX 2
    • 3 beds 2 baths ∙ 1,306 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,306 Sqft ∙ Built 2000
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.07
    •  
  • 1642 Morrow Lane Abilene, TX 4
    • 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 2003
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.91
    •  
PROPERTY LISTING DETAILS
Chad Chaney
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14490453
Last Updated: 12/24/2020
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