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261 Bella Way Abilene, TX 79602

4 Beds 2 Baths 1,689 sqft Built 2021

$240,700

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $142.51
  • 3 Days on Market
  • MLS # : 14531020
  • Updated Date : 03/12/2021 at 09:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,689 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Lovely new construction home built by Prime Properties. This 4 bedroom, 2 bathroom home features an open floorplan with split bedrooms. The kitchen will feature stainless steel appliances, white quartz countertops, and custom white cabinetry. Large master with 9' ceiling with access to the laundry room. The master ensuite will feature dual sinks, separate shower, soaking tub, water closet with a great walk in closet! Covered front porch and back patio. Builder will include privacy fence for the backyard, and will install sod and sprinkler system front and backyard. Completion expected around May 10th.

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: 79602

ZipNIR Market*CityMarket2010Year2005 Q3201970k80k90k100k110k120k130k140k150k160k170k180kPrice in $66k189k

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

Zip Code: 79602

ZipNIR Market*CityMarket2015Year20112019 Q28509009501000105011001150120012501300Rent in $8171309

* 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
Jackson Elementary School Primary Regular 547 29 6
Madison Middle School Middle Regular 900 62 4
Cooper High School High Regular 1,806 135 4

Jackson Elementary School

  • Education Level: Primary
  • # of students: 547
  • # of teachers: 29
6
GreatSchools Rating

Madison Middle School

  • Education Level: Middle
  • # of students: 900
  • # of teachers: 62
4
GreatSchools Rating

Cooper High School

  • Education Level: High
  • # of students: 1,806
  • # of teachers: 135
4
GreatSchools Rating
 

$216,630$264,770$240,700

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$836
Property Tax -$518
Property Insurance -$124
HOA -$21
Property Management Fees -$99
CASH FLOW
$52

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$240,700

PROJECTED PRICE

$1,650

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 4.0%
Maintenance Year (1-5) 3.00%
Vacancy 9.90%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,786

INVESTMENT

$65,786

Down Payment
$60,175
Rehab Estimate
$2,000
Closing Costs
$3,611

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$836

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,175
Loan Amount $180,525
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$4,560

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,752

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7953$1,8004$1,8755$1,895
$1,895
RENT COMPS ANALYSIS
  • 261 Bella Way Abilene, TX 1
    • 4 beds 2 baths ∙ 1,689 Sqft ∙ Built 2021 4 beds 2 baths ∙ 1,689 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.98
    •  
  • 282 Southlake Drive Abilene, TX 2
    • 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 2014
    LEASED 01/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.03
    •  
  • 7314 Connor Road Abilene, TX 3
    • 4 beds 2 baths ∙ 1,754 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,754 Sqft ∙ Built 2018
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.03
    •  
  • 309 Mill Creek Drive Abilene, TX 4
    • 4 beds 2 baths ∙ 1,811 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,811 Sqft ∙ Built 2017
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.04
    •  
  • 310 Mill Creek Drive Abilene, TX 5
    • 4 beds 2 baths ∙ 1,805 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,805 Sqft ∙ Built 2015
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.05
    •  
PROPERTY LISTING DETAILS
Amber Kimmel
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14531020
Last Updated: 03/12/2021
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