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277 Pinnacle Circle Aledo, TX 76008

3 Beds 2 Baths 1,989 sqft Built 2002

$324,000

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $162.90
  • 3 Days on Market
  • MLS # : 14515309
  • Updated Date : 02/12/2021 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,989 sqft
  • Baths : 2 full
Listing Agent

Briggs Freeman Sotheby's Int'l

Listing Agent's Description

ALEDO ISD & 1 ACRE CORNER LOT...This one-of-a-kind property also has 3 bedrooms and a STUDY (that can be used as a 4th bedroom), formal dinning room, open kitchen with breakfast area, oversized family room, and newly renovated master bathroom, and so much more. Relax on your gorgeous patio and HUGE backyard. There are too many upgrades to list. You will defiantly want to see this one in person. Schedule your showing today before this one gets away from you! Swing set, trampoline, & shed will convey with this property.

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: 76008

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k393k

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

Zip Code: 76008

ZipNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262811

* 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
Stuard Elementary School Primary Regular 531 30 9
Aledo Middle School Middle Regular 804 47 9
Aledo High School High Regular 1,193 72 7

Stuard Elementary School

  • Education Level: Primary
  • # of students: 531
  • # of teachers: 30
9
GreatSchools Rating

Aledo Middle School

  • Education Level: Middle
  • # of students: 804
  • # of teachers: 47
9
GreatSchools Rating

Aledo High School

  • Education Level: High
  • # of students: 1,193
  • # of teachers: 72
7
GreatSchools Rating
 

$291,600$356,400$324,000

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$1,125
Property Tax -$726
Property Insurance -$142
Property Management Fees -$99
CASH FLOW
$178

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.

$324,000

PROJECTED PRICE

$2,270

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.5%
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$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,610

INVESTMENT

$91,610

Down Payment
$81,000
Rehab Estimate
$5,750
Closing Costs
$4,860

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,000
Loan Amount $243,000
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$28,726

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $2,556

    COMP ESTIMATED VALUE
  • $1.29

    COMP AVG. RENT PER SQFT
Comps Range
$2,270
1$2,2702$2,8003$2,950
$2,950
RENT COMPS ANALYSIS
  • 277 Pinnacle Circle Aledo, TX 1
    • 3 beds 2 baths ∙ 1,989 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,989 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $1.14
    •  
  • 3500 W Fm 5 Aledo, TX 2
    • 4 beds 2 baths ∙ 2,148 Sqft ∙ Built 1991 4 beds 2 baths ∙ 2,148 Sqft ∙ Built 1991
    property image
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.30
    •  
  • 1131 Redbud Lane Annetta, TX 3
    • 4 beds 2 baths ∙ 2,323 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,323 Sqft ∙ Built 2014
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.27
    •  
PROPERTY LISTING DETAILS
Misty Weaver
Briggs Freeman Sotheby's Int'l
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14515309
Last Updated: 02/12/2021
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