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2536 Governors Boulevard Heath, TX 75126

3 Beds 3 Baths 2,673 sqft Built 2020

$458,974

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $171.71
  • 3 Days on Market
  • MLS # : 14541052
  • Updated Date : 03/26/2021 at 19:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,673 sqft
  • Baths : 2 full , 1 half
Listing Agent

Gehan Homes Brokerage, Llc

Listing Agent's Description

Amazing 2 Story Home with included features as a Study in lieu of Dining Room, Upgraded Kitchen Layout with Stainless Steel Gas Kitchen Appliances, Upgraded 42in Kitchen Cabinets, Granite Kitchen Countertops, 2-Story Family Room, Master Bedroom Bay Window, Utility Door from Master Bedroom Closet, Enlarged Storage Closet Upstairs at Loft Area, Metal Balusters at first Run and Front Overlook, Upgraded Tile, Carpet & Wood Flooring, Covered Patio, Premium Stone & Brick Elevation, Premium Home-site sits on a Corner Lot, and so much more.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Zip Code: 75126

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k538k

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

Zip Code: 75126

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263246

* 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
Amy Parks-heath Elementary School Primary Regular 781 44 9
Amy Parks-heath Elementary School Middle Regular 781 44 9
Rockwall-heath High School High Regular 2,200 119 8

Amy Parks-heath Elementary School

  • Education Level: Primary
  • # of students: 781
  • # of teachers: 44
9
GreatSchools Rating

Amy Parks-heath Elementary School

  • Education Level: Middle
  • # of students: 781
  • # of teachers: 44
9
GreatSchools Rating

Rockwall-heath High School

  • Education Level: High
  • # of students: 2,200
  • # of teachers: 119
8
GreatSchools Rating
 

$413,077$504,871$458,974

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,594
Property Tax -$1,040
Property Insurance -$182
HOA -$185
Property Management Fees -$99
CASH FLOW
-$920

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.

$458,974

PROJECTED PRICE

$2,180

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.8%
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$1.2M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$123,628

INVESTMENT

$123,628

Down Payment
$114,744
Rehab Estimate
$2,000
Closing Costs
$6,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,594

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $114,744
Loan Amount $344,231
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$58

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,225

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1503$2,1804$2,2505$2,375
$2,375
RENT COMPS ANALYSIS
  • 2536 Governors Boulevard Heath, TX 3
    • 3 beds 3 baths ∙ 2,673 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,673 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.82
    •  
  • 1008 Camp Verde Drive Forney, TX 1
    • 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 2006
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
  • 2014 Sage Brush Drive Forney, TX 2
    • 3 beds 2 baths ∙ 2,480 Sqft ∙ Built 2012 3 beds 2 baths ∙ 2,480 Sqft ∙ Built 2012
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.87
    •  
  • 1007 Concan Drive Forney, TX 4
    • 4 beds 3 baths ∙ 2,814 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,814 Sqft ∙ Built 2005
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.80
    •  
  • 1209 Templin Avenue Forney, TX 5
    • 4 beds 4 baths ∙ 2,964 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,964 Sqft ∙ Built 2017
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.80
    •  
PROPERTY LISTING DETAILS
April Maki
Gehan Homes Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14541052
Last Updated: 03/26/2021
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