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2438 County Road 1370 Alvord, TX 76225

4 Beds 3 Baths 1,944 sqft Built 2012

$345,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $177.47
  • 5 Days on Market
  • MLS # : 14469831
  • Updated Date : 11/11/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,944 sqft
  • Baths : 3 full
Listing Agent

The Real Estate Pro Shop

Listing Agent's Description

Beautiful home with pool and pool house. Pool house would be 4th bedroom and has standup shower and it’s own bath room. Granite counter tops. Vaulted ceilings. 24x24 separate shop. All on 2.3 acres.

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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: 76225

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $95k243k

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

Zip Code: 76225

ZipNIR Market*Market2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* 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
Alvord Elementary School Primary Regular 327 23 7
Alvord Middle School Middle Regular 156 12 4
Alvord High School High Regular 209 21 5

Alvord Elementary School

  • Education Level: Primary
  • # of students: 327
  • # of teachers: 23
7
GreatSchools Rating

Alvord Middle School

  • Education Level: Middle
  • # of students: 156
  • # of teachers: 12
4
GreatSchools Rating

Alvord High School

  • Education Level: High
  • # of students: 209
  • # of teachers: 21
5
GreatSchools Rating
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,273
Property Tax -$680
Property Insurance -$140
Property Management Fees -$99
CASH FLOW
-$382

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$345,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
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$1.0M

PROJECTED ANNUAL CASH FLOW

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

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$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,273

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$563

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,138

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,810
$1,810
RENT COMPS ANALYSIS
  • 2438 County Road 1370 Alvord, TX 2
    • 4 beds 3 baths ∙ 1,944 Sqft ∙ Built 2012 4 beds 3 baths ∙ 1,944 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.93
    •  
  • 122 County Road 1380 Alvord, TX 1
    • 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 2007
    LEASED 12/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.10
    •  
PROPERTY LISTING DETAILS
Scott Locklear
The Real Estate Pro Shop
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469831
Last Updated: 11/11/2020
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