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282 Hilltop Drive Justin, TX 76247

4 Beds 2 Baths 2,287 sqft Built 2016

INVESTimate

$290,000

List Price

$1,880

$1,692 - $2,068

Rent Est.

$315,288  ( +8.72%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $126.80
  • 7 Days on Market
  • MLS # : 14415272
  • Updated Date : 08/20/2020 at 10:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,287 sqft
  • Baths : 2 full
Listing Agent

Innovative Realty

Listing Agent's Description

Come see this absolutely stunning home in the heart of Justin, Texas. This beautiful home offers a large open floor plan with plenty of space for guests and a large family. This Impression Home was built in 2016 with one owner and has a welcoming feel from the front door to the back yard. Come view our spacious kitchen that opens to the dining and living spaces for entertaining. While also being able to retreat to your master suite that boasts a garden tub, stand up shower, and separate vanities. This home features large secondary bedrooms, and a backyard built for fun. Located within walking distance of Justin Elementary this home is meant for a family to make memories.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

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
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,070
Property Tax -$604
Property Insurance -$159
HOA -$18
Property Management Fees -$99
CASH FLOW
-$71

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.

$290,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.72%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$10,106

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,852

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7253$1,8004$1,8505$1,880
$1,880
RENT COMPS ANALYSIS
  • 282 Hilltop Drive Justin, TX 5
    • 4 beds 2 baths ∙ 2,287 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,287 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.82
    •  
  • 118 Lakeway Lane Justin, TX 1
    • 4 beds 3 baths ∙ 2,107 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,107 Sqft ∙ Built 2001
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.78
    •  
  • 210 Cedar Crest Drive Justin, TX 2
    • 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
    •  
  • 105 Chinos Trail Justin, TX 3
    • 3 beds 3 baths ∙ 2,107 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,107 Sqft ∙ Built 2002
    LEASED 08/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.85
    •  
  • 433 Chisholm Trail Justin, TX 4
    • 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
    •  
PROPERTY LISTING DETAILS
Riehle Simkins
Innovative Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415272
Last Updated: 08/20/2020
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