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290 Spyglass Drive Willow Park, TX 76008

4 Beds 3 Baths 2,806 sqft Built 2008

$375,000

List Price

$2,730

$2.5K - $3K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $133.64
  • 2 Days on Market
  • MLS # : 14512077
  • Updated Date : 02/06/2021 at 11:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,806 sqft
  • Baths : 3 full
Listing Agent

League Real Estate

Listing Agent's Description

Aledo ISD! Willow Park Village. Custom one-owner meticulously maintained home with NEW ROOF(2020) and NEW WATER HEATER(2020)! Gorgeous four bedroom, 3 bath (remodeled master bath), with 2 master closets, 2 home office areas and media-game room. This home boasts 4 large floored attic spaces for tons of additional storage with access from top floor. Whole house double water filtration system. One of the largest lots and backyards in the neighborhood. Community playground and sport court bordering the house and no neighbors behind creates a sense of privacy. Ideal location just minutes from schools, dining, & shopping with easy access to I-20.

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: 76008

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k380k

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

Zip Code: 76008

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262738

* 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
Coder Elementary School Primary Regular 425 27 7
Aledo Middle School Middle Regular 804 47 9
Aledo High School High Regular 1,193 72 7

Coder Elementary School

  • Education Level: Primary
  • # of students: 425
  • # of teachers: 27
7
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
 

$337,500$412,500$375,000

PURCHASE PRICE

$2,457$3,003$2,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,730
EXPENSES Loan Payment -$1,303
Property Tax -$858
Property Insurance -$189
HOA -$15
Property Management Fees -$99
CASH FLOW
$265

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.

$375,000

PROJECTED PRICE

$2,730

PROJECTED RENT

0.73%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$38,087

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,730

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,834

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,730
$2,730
RENT COMPS ANALYSIS
  • 290 Spyglass Drive Willow Park, TX 2
    • 4 beds 3 baths ∙ 2,806 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,806 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,730
    • $0.97
    •  
  • 425 Prairie Run Aledo, TX 1
    • 4 beds 4 baths ∙ 2,679 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,679 Sqft ∙ Built 2015
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.01
    •  
PROPERTY LISTING DETAILS
Brandon Phillips
League Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14512077
Last Updated: 02/06/2021
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