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2714 Windstone Way Corinth, TX 76210

3 Beds 2 Baths 1,887 sqft Built 1998

$269,900

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $143.03
  • 3 Days on Market
  • MLS # : 14463330
  • Updated Date : 11/01/2020 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,887 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

The home has an open floorplan with vaulted ceilings. Master bedroom off living room separate from the other bedrooms. Gas cooktop, pantry, and breakfast bar.

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: Windstone

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Windstone

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9412171

* 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
Olive Stephens Elementary School Primary Regular 536 38 6
Crownover Middle School Middle Regular 938 59 8
John H. Guyer High School High Regular 2,395 162 8

Olive Stephens Elementary School

  • Education Level: Primary
  • # of students: 536
  • # of teachers: 38
6
GreatSchools Rating

Crownover Middle School

  • Education Level: Middle
  • # of students: 938
  • # of teachers: 59
8
GreatSchools Rating

John H. Guyer High School

  • Education Level: High
  • # of students: 2,395
  • # of teachers: 162
8
GreatSchools Rating
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$996
Property Tax -$546
Property Insurance -$136
Property Management Fees -$99
CASH FLOW
-$87

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.

$269,900

PROJECTED PRICE

$1,690

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.8%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$8,518

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,689

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,690
1$1,6902$1,7503$1,7954$1,8505$1,850
$1,850
RENT COMPS ANALYSIS
  • 2714 Windstone Way Corinth, TX 1
    • 3 beds 2 baths ∙ 1,887 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,887 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.90
    •  
  • 2506 Boulder Drive Corinth, TX 2
    • 3 beds 2 baths ∙ 1,915 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,915 Sqft ∙ Built 1986
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.91
    •  
  • 2722 Windstone Corinth, TX 3
    • 3 beds 2 baths ∙ 2,011 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,011 Sqft ∙ Built 2000
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.89
    •  
  • 2104 Post Oak Court Corinth, TX 4
    • 4 beds 2 baths ∙ 2,078 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,078 Sqft ∙ Built 1995
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.89
    •  
  • 1500 Shadow Crest Drive Corinth, TX 5
    • 3 beds 2 baths ∙ 2,078 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,078 Sqft ∙ Built 1996
    property image
    LEASED 08/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.89
    •  
PROPERTY LISTING DETAILS
Debra Johnson
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463330
Last Updated: 11/01/2020
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