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235 Garrett Street Anna, TX 75409

3 Beds 2 Baths 1,608 sqft Built 2020

$254,900

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $158.52
  • 3 Days on Market
  • MLS # : 14467051
  • Updated Date : 11/06/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,608 sqft
  • Baths : 2 full
Listing Agent

Lgi Homes

Listing Agent's Description

The charming Maple plan by LGI Homes is located in the family-friendly community of North Pointe Crossing. This spacious one-story home has 3 bedrooms, 2 baths and a 2-car garage. This home's features include an open family room, chef-ready kitchen, gorgeous dining room, laundry room, and a private master retreat with a large master bath including soaker tub, separate glass-enclosed shower and an over-sized walk-in closet. Also included in this beautiful new home from LGI Homes are brand new stainless steel, energy-efficient kitchen appliances including refrigerator, granite countertops, designer wood cabinets, a fully fenced backyard, front yard landscaping and a new home warranty.

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
 

$229,410$280,390$254,900

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$940
Property Tax -$513
Property Insurance -$120
HOA -$29
Property Management Fees -$99
CASH FLOW
-$112

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.

$254,900

PROJECTED PRICE

$1,590

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.7%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,549

INVESTMENT

$69,549

Down Payment
$63,725
Rehab Estimate
$2,000
Closing Costs
$3,824

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$940

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,725
Loan Amount $191,175
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$5,962

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,624

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,5903$1,6004$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 235 Garrett Street Anna, TX 2
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.99
    •  
  • 3111 Elam Street Anna, TX 1
    • 3 beds 2 baths ∙ 1,619 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,619 Sqft ∙ Built 2018
    property image
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.97
    •  
  • 236 Belford Street Anna, TX 3
    • 4 beds 2 baths ∙ 1,592 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,592 Sqft ∙ Built 2015
    property image
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.01
    •  
  • 331 Elam Drive Anna, TX 4
    • 4 beds 2 baths ∙ 1,562 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,562 Sqft ∙ Built 2014
    property image
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.06
    •  
  • 323 Vernon Street Anna, TX 5
    • 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 2014
    property image
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
PROPERTY LISTING DETAILS
Mona Hill
Lgi Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467051
Last Updated: 11/06/2020
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