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2605 Crossman Avenue Dallas, TX 75212

3 Beds 4 Baths 2,330 sqft Built 2020

$429,900

List Price

$3,420

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $184.51
  • 2 Days on Market
  • MLS # : 14477905
  • Updated Date : 11/28/2020 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,330 sqft
  • Baths : 2 full , 2 half
Listing Agent

Ultima Real Estate

Listing Agent's Description

A visual testament to what a vision when impeccable design is actualized by superior artistry. The second floor has the Master bed and the Gameroom has a balcony offering a sense of serenity along with two other balconies, the balcony on the third floor offers partial views of Downtown ready for sunset and a glass of wine. Incredible light filled spaces highlight the sleek design and exquisite finishes A perfect blend of warmth and minimalist modern elegance. An entertainer’s dream kitchen featuring quartz countertops and custom cabinetry, The master bath is the ultimate spa like luxury. Coming home just got a different meaning now. THIS UNIT AND 2603 CROSSMAN AVE

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

Neighborhood: Muncie

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $60k243k

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

Neighborhood: Muncie

NeighborhoodNIR Market*CityMarket2010Year20002019 Q260070080090010001100120013001400150016001700Rent in $5601734

* 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
Sidney Lanier Expressive Arts Vanguard Primary Magnet 610 43 7
L.g. Pinkston High School Middle Regular 999 74 3
L.g. Pinkston High School High Regular 999 74 3

Sidney Lanier Expressive Arts Vanguard

  • Education Level: Primary
  • # of students: 610
  • # of teachers: 43
7
GreatSchools Rating

L.g. Pinkston High School

  • Education Level: Middle
  • # of students: 999
  • # of teachers: 74
3
GreatSchools Rating

L.g. Pinkston High School

  • Education Level: High
  • # of students: 999
  • # of teachers: 74
3
GreatSchools Rating
 

$386,910$472,890$429,900

PURCHASE PRICE

$3,078$3,762$3,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,420
EXPENSES Loan Payment -$1,586
Property Tax -$1,019
Property Insurance -$162
Property Management Fees -$99
CASH FLOW
$554

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.

$429,900

PROJECTED PRICE

$3,420

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 12.3%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
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$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,924

INVESTMENT

$115,924

Down Payment
$107,475
Rehab Estimate
$2,000
Closing Costs
$6,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,586

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,475
Loan Amount $322,425
See What Happens When You Reinvest Cash Flow

11.42

YEARS SAVED

$90,359

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,420

    LIST RENT
  • $1.47

    LIST RENT PER SQFT
  • $3,425

    COMP ESTIMATED VALUE
  • $1.47

    COMP AVG. RENT PER SQFT
Comps Range
$3,195
1$3,1952$3,2003$3,4204$3,5005$3,500
$3,500
RENT COMPS ANALYSIS
  • 2605 Crossman Avenue Dallas, TX 3
    • 3 beds 4 baths ∙ 2,330 Sqft ∙ Built 2020 3 beds 4 baths ∙ 2,330 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $3,420
    • $1.47
    •  
  • 647 Aspen Valley Lane Dallas, TX 1
    • 3 beds 3 baths ∙ 2,376 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,376 Sqft ∙ Built 2018
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $1.34
    •  
  • 1077 Tea Olive Lane Dallas, TX 2
    • 3 beds 4 baths ∙ 2,234 Sqft ∙ Built 2018 3 beds 4 baths ∙ 2,234 Sqft ∙ Built 2018
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.43
    •  
  • 2021 Dennison Street Dallas, TX 4
    • 3 beds 3 baths ∙ 2,248 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,248 Sqft ∙ Built 2020
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.56
    •  
  • 1880 Stevens Bluff Lane Dallas, TX 5
    • 3 beds 4 baths ∙ 2,260 Sqft ∙ Built 2016 3 beds 4 baths ∙ 2,260 Sqft ∙ Built 2016
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.55
    •  
PROPERTY LISTING DETAILS
Edgar Bobadilla
Ultima Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14477905
Last Updated: 11/28/2020
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