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2804 Posey Drive Seagoville, TX 75159

4 Beds 2 Baths 1,627 sqft Built 2020

INVESTimate

$220,490

List Price

$1,490

$1,341 - $1,639

Rent Est.

$241,503  ( +9.53%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $135.52
  • 4 Days on Market
  • MLS # : 14419267
  • Updated Date : 08/23/2020 at 06:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,627 sqft
  • Baths : 2 full
Listing Agent

Jeanette Anderson Real Estate

Listing Agent's Description

New! Beautiful, four bedroom, two full baths. Home includes, granite counters throughout, LED lighting, full sprinkler system and much more! Located in a desirable neighborhood with community pool and playground, easy access to Dallas and surrounding areas. Schedule a tour today! Stage 3

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: 75159

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $79k243k

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

Zip Code: 75159

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Achziger Elementary School Primary Regular 914 56 6
Berry Middle School Middle Regular 910 55 5
John Horn High School High Regular 2,284 140 4

Achziger Elementary School

  • Education Level: Primary
  • # of students: 914
  • # of teachers: 56
6
GreatSchools Rating

Berry Middle School

  • Education Level: Middle
  • # of students: 910
  • # of teachers: 55
5
GreatSchools Rating

John Horn High School

  • Education Level: High
  • # of students: 2,284
  • # of teachers: 140
4
GreatSchools Rating
 

$198,441$242,539$220,490

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$814
Property Tax -$517
Property Insurance -$121
HOA -$28
Property Management Fees -$99
CASH FLOW
-$88

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$220,490

PROJECTED PRICE

$1,490

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.53%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,430

INVESTMENT

$60,430

Down Payment
$55,123
Rehab Estimate
$2,000
Closing Costs
$3,307

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$814

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,123
Loan Amount $165,368
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$4,673

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,489

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,4903$1,5754$1,6255$1,700
$1,700
RENT COMPS ANALYSIS
  • 2804 Posey Drive Seagoville, TX 2
    • 4 beds 2 baths ∙ 1,627 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,627 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.92
    •  
  • 1618 Makayla Lane Seagoville, TX 1
    • 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 2005
    property image
    LEASED 03/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.91
    •  
  • 15651 Danson Drive Dallas, TX 3
    • 4 beds 2 baths ∙ 1,736 Sqft ∙ Built 2013 4 beds 2 baths ∙ 1,736 Sqft ∙ Built 2013
    property image
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.91
    •  
  • 15643 Danson Drive Dallas, TX 4
    • 5 beds 2 baths ∙ 1,803 Sqft ∙ Built 2012 5 beds 2 baths ∙ 1,803 Sqft ∙ Built 2012
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.90
    •  
  • 2904 Englenook Drive Seagoville, TX 5
    • 4 beds 2 baths ∙ 1,801 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,801 Sqft ∙ Built 2017
    property image
    LEASED 06/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.94
    •  
PROPERTY LISTING DETAILS
Bryan Reasor
Jeanette Anderson Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419267
Last Updated: 08/23/2020
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