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2544 Britt Drive Argyle, TX 76226

4 Beds 4 Baths 3,703 sqft Built 2017

$740,000

List Price

$3,210

$3K - $3.5K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $199.84
  • 5 Days on Market
  • MLS # : 14462976
  • Updated Date : 10/30/2020 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,703 sqft
  • Baths : 3 full , 1 half
Listing Agent

Monument Realty

Listing Agent's Description

Stunning Custom Estate on Almost 1 Acre in Argyle ISD! Lovely Curb Appeal, Greeted by Iron Doors, Soaring 2 Story Ceilings, Engineered Wood Floors, Iron Spindle Catwalk, Decorative Fixtures and Tons of Natural Light. Open Concept Kitchen with Granite, Breakfast Bar, Gas Cooktop & Wine Fridge. Spacious Master Retreat with a Private Balcony, Dual Sinks & Walkin Shower. Energy Efficient with Foam Insulation, High Efficiency Windows and Insulated Doors. This Property is AMAZING!!!...Backs to Horse Farm, No HOA & Argyle ISD...ONE OF A KIND!

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

Neighborhood: Briarcreek

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k475k

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

Neighborhood: Briarcreek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262799

* 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
Argyle Intermediate School Primary Regular 295 17 8
Argyle Intermediate School Middle Regular 295 17 8
Argyle High School High Regular 711 50 8

Argyle Intermediate School

  • Education Level: Primary
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle Intermediate School

  • Education Level: Middle
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle High School

  • Education Level: High
  • # of students: 711
  • # of teachers: 50
8
GreatSchools Rating
 

$666,000$814,000$740,000

PURCHASE PRICE

$2,889$3,531$3,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,210
EXPENSES Loan Payment -$2,730
Property Tax -$1,471
Property Insurance -$241
Property Management Fees -$99
CASH FLOW
-$1,332

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$740,000

PROJECTED PRICE

$3,210

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$201,850

INVESTMENT

$201,850

Down Payment
$185,000
Rehab Estimate
$5,750
Closing Costs
$11,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,730

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $185,000
Loan Amount $555,000
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$20

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,210

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $3,666

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$3,210
1$3,2102$3,2503$3,5004$3,900
$3,900
RENT COMPS ANALYSIS
  • 2544 Britt Drive Argyle, TX 1
    • 4 beds 4 baths ∙ 3,703 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,703 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $3,210
    • $0.87
    •  
  • 9115 Leland Drive Lantana, TX 2
    • 4 beds 4 baths ∙ 3,439 Sqft ∙ Built 2011 4 beds 4 baths ∙ 3,439 Sqft ∙ Built 2011
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $0.95
    •  
  • 414 Pegasus Ridge Argyle, TX 3
    • 4 beds 4 baths ∙ 3,446 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,446 Sqft ∙ Built 2018
    LEASED 06/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.02
    •  
  • 1101 Wilson Drive Lantana, TX 4
    • 5 beds 4 baths ∙ 3,901 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,901 Sqft ∙ Built 2007
    LEASED 06/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $1.00
    •  
PROPERTY LISTING DETAILS
Kevin Andrews
Monument Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462976
Last Updated: 10/30/2020
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