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2726 Stonecrest Drive Abilene, TX 79606

3 Beds 2 Baths 1,688 sqft Built 2000

$178,500

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $105.75
  • 2 Days on Market
  • MLS # : 14467692
  • Updated Date : 11/07/2020 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,688 sqft
  • Baths : 2 full
Listing Agent

Re/max Of Abilene

Listing Agent's Description

WELCOME TO THE TIMELESS STYLE found in this 2000 Built Stonegate Addition Home! Classic Grace is evident from the Entry Foyer, where the Eye is drawn immediately to the Elegant Formal Dining Area boasting Floor to Ceiling Windows then spanning into the Open and Inviting Floor Plan. Warm Wall Tones, Elevated Ceilings and Oak Cabinetry dial down the Formality for a Home Design that stands the Test of Time. Abundant Cabinets and Counter Bar Space come together to form the Perfect Home for Entertaining during the Upcoming Holidays or those, now more familiar, Home Learning School Projects. Taking it to the Outdoors, Exterior Living Space is efficiently extended by the Brick Paver Patio & Lush Landscaping!

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: Chimney Rock Area

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $78k236k

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

Neighborhood: Chimney Rock Area

NeighborhoodNIR Market*CityMarket2015Year20112019 Q285090095010001050110011501200125013001350140014501500Rent in $8341531

* 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
Ward Elementary School Primary Regular 550 31 6
Madison Middle School Middle Regular 900 62 4
Cooper High School High Regular 1,806 135 4

Ward Elementary School

  • Education Level: Primary
  • # of students: 550
  • # of teachers: 31
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
 

$160,650$196,350$178,500

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$659
Property Tax -$399
Property Insurance -$123
Property Management Fees -$99
CASH FLOW
$240

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 18% of earned rent to cover both maintenance and periods of vacancy.

$178,500

PROJECTED PRICE

$1,520

PROJECTED RENT

0.85%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 4.2%
Maintenance Year (1-5) 8.00%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,053

INVESTMENT

$53,053

Down Payment
$44,625
Rehab Estimate
$5,750
Closing Costs
$2,678

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$659

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $44,625
Loan Amount $133,875
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$19,631

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,515

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3953$1,4504$1,4955$1,520
$1,520
RENT COMPS ANALYSIS
  • 2726 Stonecrest Drive Abilene, TX 5
    • 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.90
    •  
  • 2910 Oak Ridge Court Abilene, TX 1
    • 3 beds 2 baths ∙ 1,489 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,489 Sqft ∙ Built 1988
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.87
    •  
  • 4610 Stonehedge Road Abilene, TX 2
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1984
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.91
    •  
  • 2802 Rex Allen Drive Abilene, TX 3
    • 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1982
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
  • 4702 Stonehedge Road Abilene, TX 4
    • 3 beds 2 baths ∙ 1,684 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,684 Sqft ∙ Built 1985
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.89
    •  
PROPERTY LISTING DETAILS
Cindy Robinson
Re/max Of Abilene
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467692
Last Updated: 11/07/2020
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