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277 Hilltop Drive Justin, TX 76247

4 Beds 2 Baths 2,265 sqft Built 2016

$295,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $130.24
  • 4 Days on Market
  • MLS # : 14505345
  • Updated Date : 01/29/2021 at 16:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,265 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Beautiful and meticulously maintained home! Spacious kitchen with oversized island that opens to the dining and living perfect for entertaining. A much-desired floor plan offering a split bedroom, open concept layout with 4 bedrooms, currently utilizes the 4th bedroom as a home office. Large master bedroom with ensuite bath with separate tub and shower, walk-in closet. Gorgeous Patio looks out to the ball fields, NO REAR NEIGHBORS. Great location to major highways, shopping, DFW, Denton Fort Worth and Dallas. This house looks like a model home! Walking distance to the community park, playground, and Justin elementary. Multiple offers received. The deadline for showings Sunday at 11am & for offers at 12 pm.

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

Zip Code: 76247

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 76247

ZipNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10532171

* 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
Justin Elementary School Primary Regular 506 33 5
Gene Pike Middle School Middle Regular 743 53 7
Northwest High School High Regular 2,793 170 6

Justin Elementary School

  • Education Level: Primary
  • # of students: 506
  • # of teachers: 33
5
GreatSchools Rating

Gene Pike Middle School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 53
7
GreatSchools Rating

Northwest High School

  • Education Level: High
  • # of students: 2,793
  • # of teachers: 170
6
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,025
Property Tax -$615
Property Insurance -$158
HOA -$18
Property Management Fees -$99
CASH FLOW
$86

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.

$295,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.7%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,025

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$19,184

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,988

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,8503$1,9004$2,0005$2,295
$2,295
RENT COMPS ANALYSIS
  • 277 Hilltop Drive Justin, TX 4
    • 4 beds 2 baths ∙ 2,265 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,265 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.88
    •  
  • 210 Cedar Crest Drive Justin, TX 1
    • 3 beds 3 baths ∙ 2,206 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,206 Sqft ∙ Built 2004
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.78
    •  
  • 433 Chisholm Trail Justin, TX 2
    • 4 beds 2 baths ∙ 2,236 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,236 Sqft ∙ Built 2008
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.83
    •  
  • 228 Cedar Crest Drive Justin, TX 3
    • 4 beds 2 baths ∙ 2,108 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,108 Sqft ∙ Built 2007
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.90
    •  
  • 282 Hilltop Drive Justin, TX 5
    • 4 beds 3 baths ∙ 2,287 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,287 Sqft ∙ Built 2016
    LEASED 01/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.00
    •  
PROPERTY LISTING DETAILS
Dolores Reyes
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14505345
Last Updated: 01/29/2021
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