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2805 Fm 1187 Crowley, TX 76036

3 Beds 3 Baths 2,026 sqft Built 1996

$314,900

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $155.43
  • 5 Days on Market
  • MLS # : 14516914
  • Updated Date : 02/10/2021 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,026 sqft
  • Baths : 2 full , 1 half
Listing Agent

League Real Estate

Listing Agent's Description

Great 3 bedroom 2.5 baths on .896 acre. Two living rooms, formal dining and eat in kitchen are great for entertaining. Large living room with electric fireplace makes for a great focal point. Split floor plan and Spacious secondary bedrooms. Oversized master with dual sinks, soaking tub and separate shower. This fabulous only 2 owner home has been well cared for and is ready for someone to make it their own.

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: 76036

ZipNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240kPrice in $122k243k

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

Zip Code: 76036

ZipNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* 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
Bess Race Elementary School Primary Regular 673 38 3
Crowley High School High Regular 2,033 150 4
Crowley High School High Unknown NA

Bess Race Elementary School

  • Education Level: Primary
  • # of students: 673
  • # of teachers: 38
3
GreatSchools Rating

Crowley High School

  • Education Level: High
  • # of students: 2,033
  • # of teachers: 150
4
GreatSchools Rating

Crowley High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$283,410$346,390$314,900

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 -$1,094
Property Tax -$780
Property Insurance -$144
Property Management Fees -$99
CASH FLOW
-$427

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$314,900

PROJECTED PRICE

$1,690

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,199

INVESTMENT

$89,199

Down Payment
$78,725
Rehab Estimate
$5,750
Closing Costs
$4,724

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,725
Loan Amount $236,175
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$18

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
  • $0.83

    LIST RENT PER SQFT
  • $1,844

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,625
1$1,6252$1,6903$1,7504$1,7955$2,100
$2,100
RENT COMPS ANALYSIS
  • 2805 Fm 1187 Crowley, TX 2
    • 3 beds 3 baths ∙ 2,026 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,026 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.83
    •  
  • 1253 Cottonwood Drive Crowley, TX 1
    • 3 beds 3 baths ∙ 1,775 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,775 Sqft ∙ Built 2007
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.92
    •  
  • 1437 Strickland Drive Crowley, TX 3
    • 3 beds 2 baths ∙ 1,952 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,952 Sqft ∙ Built 1985
    property image
    LEASED 01/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.90
    •  
  • 13612 Helix Bridge Way Crowley, TX 4
    • 3 beds 2 baths ∙ 1,925 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,925 Sqft ∙ Built 2016
    property image
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.93
    •  
  • 7109 Steer Lane Crowley, TX 5
    • 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 2003
    property image
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.89
    •  
PROPERTY LISTING DETAILS
Jayme Taylor
League Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14516914
Last Updated: 02/10/2021
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