Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2587 Fox Point Road Quinlan, TX 75474

3 Beds 3 Baths 2,278 sqft Built 1983

$299,900

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $131.65
  • 2 Days on Market
  • MLS # : 14528128
  • Updated Date : 03/06/2021 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,278 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Upchurch Real Estat

Listing Agent's Description

Tranquility at it Finest! This 3-2.5-2 home has been remodeled from top to bottom and given many custom upgrades! Sitting on a heavily treed .82 acre corner lot and boasting with room to run and play both inside and out! Some of the features include: Upstairs Master suite with 10x26 private balcony, custom bathroom with dual vanities, Split bedroom floorplan, Open Kitchen Dining and Living room, oversized Kitchen with tons of Granite counterspace, Double Oven, Glass Cooktop, Stainless MW and DW, Hardwood Floors, WBFP in Liv, Split AC system still under warranty, 34x11 covered back porch, chain link fenced back yard, water fountain feature in the front yard, 6 years old roof, 5 yrs old Septic, and much more!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 75474

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $67k243k

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

Zip Code: 75474

ZipNIR Market*Market2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Butler Intermediate School Primary Regular 509 30 4
Thompson Middle School Middle Regular 565 38 4
Ford High School High Regular 785 47 3

Butler Intermediate School

  • Education Level: Primary
  • # of students: 509
  • # of teachers: 30
4
GreatSchools Rating

Thompson Middle School

  • Education Level: Middle
  • # of students: 565
  • # of teachers: 38
4
GreatSchools Rating

Ford High School

  • Education Level: High
  • # of students: 785
  • # of teachers: 47
3
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,042
Property Tax -$497
Property Insurance -$159
HOA -$30
Property Management Fees -$99
CASH FLOW
-$286

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.

$299,900

PROJECTED PRICE

$1,540

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$653

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,959

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,540
1$1,5402$1,800
$1,800
RENT COMPS ANALYSIS
  • 2587 Fox Point Road Quinlan, TX 1
    • 3 beds 3 baths ∙ 2,278 Sqft ∙ Built 1983 3 beds 3 baths ∙ 2,278 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.68
    •  
  • 2752 Waters Edge Quinlan, TX 2
    • 3 beds 2 baths ∙ 2,103 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,103 Sqft ∙ Built 2002
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.86
    •  
PROPERTY LISTING DETAILS
Earnest Upchurch
Century 21 Upchurch Real Estat
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14528128
Last Updated: 03/06/2021
BESbswy