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236 Elam Drive Anna, TX 75409

5 Beds 3 Baths 2,700 sqft Built 2020

$303,900

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $112.56
  • 3 Days on Market
  • MLS # : 14488455
  • Updated Date : 12/18/2020 at 18:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,700 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lgi Homes

Listing Agent's Description

The Driftwood is the most spacious plan in the community of North Pointe Crossing. With 5 bedrooms, 2.5 baths, and an open floor plan, this home has plenty of space for any lifestyle. The master bedroom is located on the main floor and includes an impressively sized walk-in closet. The second floor has an open gameroom along with the remaining 4 bedrooms. This home comes fully stocked with thousands of dollars in upgrades including energy-efficient kitchen appliances, granite countertops, stunning wood cabinets, brushed nickel hardware and an attached two-car garage, complete with a door opener installed.

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: 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
 

$273,510$334,290$303,900

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,121
Property Tax -$612
Property Insurance -$183
HOA -$29
Property Management Fees -$99
CASH FLOW
-$65

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.

$303,900

PROJECTED PRICE

$1,980

PROJECTED RENT

0.65%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,534

INVESTMENT

$82,534

Down Payment
$75,975
Rehab Estimate
$2,000
Closing Costs
$4,559

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,121

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,975
Loan Amount $227,925
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$11,219

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,971

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8953$1,9804$2,0005$2,000
$2,000
RENT COMPS ANALYSIS
  • 236 Elam Drive Anna, TX 3
    • 5 beds 3 baths ∙ 2,700 Sqft ∙ Built 2020 5 beds 3 baths ∙ 2,700 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.73
    •  
  • 148 Ryan Street Anna, TX 1
    • 5 beds 3 baths ∙ 2,703 Sqft ∙ Built 2017 5 beds 3 baths ∙ 2,703 Sqft ∙ Built 2017
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.68
    •  
  • 203 Cyrus Street Anna, TX 2
    • 5 beds 3 baths ∙ 2,543 Sqft ∙ Built 2018 5 beds 3 baths ∙ 2,543 Sqft ∙ Built 2018
    property image
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.75
    •  
  • 312 Meadow View Lane Anna, TX 4
    • 5 beds 3 baths ∙ 2,669 Sqft ∙ Built 2012 5 beds 3 baths ∙ 2,669 Sqft ∙ Built 2012
    property image
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.75
    •  
  • 3113 Elam Street Anna, TX 5
    • 5 beds 3 baths ∙ 2,700 Sqft ∙ Built 2019 5 beds 3 baths ∙ 2,700 Sqft ∙ Built 2019
    property image
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.74
    •  
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 #: 14488455
Last Updated: 12/18/2020
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