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240 Redwood Drive Van Alstyne, TX 75495

4 Beds 3 Baths 2,419 sqft Built 2019

$445,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
October 27, 2020 RECENTLY ADDED
FACTS
  • Built In 2019
  • Price/Sqft : $183.96
  • 8 Days on Market
  • MLS # : 14460924
  • Updated Date : 10/27/2020 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,419 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Realty Plano

Listing Agent's Description

Space and sophistication abound in this perfectly designed 1 story home situated on 1 acre with a tree lined view. Large kitchen island with farm sink and open sight lines give the home a modern touch. Nail down hardwood floors are waiting for you to customize with your choice of color. Enjoy the 4 bedrooms and a study to create your own flexible floor plan to inspire how you want to live. Floor to ceiling windows give the home optimal views you can enjoy from the heart of the home. Enjoy an extra bonus for 2020: Receive a $5k landscape or upgrade bonus when you finalize your contract by the end of the year! Preferred lender also offering $3k in closing cost credits. Privacy, no HOA or MUD tax! Welcome home!

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: 75495

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $65k239k

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

Zip Code: 75495

No Data Available.

* 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
Van Alstyne J H Primary Regular 407 28 8
Van Alstyne J H Middle Regular 407 28 8
Van Alstyne High School High Regular 447 31 7

Van Alstyne J H

  • Education Level: Primary
  • # of students: 407
  • # of teachers: 28
8
GreatSchools Rating

Van Alstyne J H

  • Education Level: Middle
  • # of students: 407
  • # of teachers: 28
8
GreatSchools Rating

Van Alstyne High School

  • Education Level: High
  • # of students: 447
  • # of teachers: 31
7
GreatSchools Rating
 

$400,500$489,500$445,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,642
Property Tax -$1,051
Property Insurance -$159
Property Management Fees -$99
CASH FLOW
-$811

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.

$445,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 7.9%
Maintenance Year (1-5) 3.00%
Vacancy 6.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$16k-$14k-$12k-$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$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,925

INVESTMENT

$119,925

Down Payment
$111,250
Rehab Estimate
$2,000
Closing Costs
$6,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,642

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $111,250
Loan Amount $333,750
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$44

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,137

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,1403$2,1754$2,200
$2,200
RENT COMPS ANALYSIS
  • 240 Redwood Drive Van Alstyne, TX 2
    • 4 beds 3 baths ∙ 2,419 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,419 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.88
    •  
  • 1531 San Carlos Drive Van Alstyne, TX 1
    • 4 beds 3 baths ∙ 2,193 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,193 Sqft ∙ Built 2013
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.89
    •  
  • 1516 Stanford Drive Van Alstyne, TX 3
    • 4 beds 4 baths ∙ 2,727 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,727 Sqft ∙ Built 2014
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.80
    •  
  • 1524 Stanford Drive Van Alstyne, TX 4
    • 4 beds 3 baths ∙ 2,283 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,283 Sqft ∙ Built 2004
    property image
    LEASED 05/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.96
    •  
PROPERTY LISTING DETAILS
Courtney Benson
Coldwell Banker Realty Plano
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14460924
Last Updated: 10/27/2020
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