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2904 Canyon Creek Drive Sherman, TX 75092

4 Beds 3 Baths 2,667 sqft Built 2007

$367,000

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $137.61
  • 2 Days on Market
  • MLS # : 14502587
  • Updated Date : 01/23/2021 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,667 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Signature Properties

Listing Agent's Description

MULTIPLE OFFERS RECEIVED. HIGHEST AND BEST OFFERS DUE BY 8PM JAN 24th. Elegance abounds in this custom built home in the highly desirable O'Hanlon Ranch subdivision! No luxury is left unturned including your designer kitchen with six burner gas cooktop, pot filler, custom cabinetry, large stone fireplace, hand scraped hardwood floors, and primary retreat with spa like ensuite. Entertain outside with your oversized patio featuring custom stone bar and fire pit or in your upstairs media room that could also be a fourth bedroom. Just blocks from beautiful Pecan Grove Park and an easy commute to Sherman Town Center for all of your shopping and dining needs. This one has it all!

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: 75092

ZipNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150k160k170k180k190kPrice in $60k199k

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

Zip Code: 75092

No Data Available.

* 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
Dillingham Intermediate School Primary Regular 1,036 76 4
Dillingham Intermediate School Middle Regular 1,036 76 4
Sherman High School High Regular 1,780 119 5

Dillingham Intermediate School

  • Education Level: Primary
  • # of students: 1,036
  • # of teachers: 76
4
GreatSchools Rating

Dillingham Intermediate School

  • Education Level: Middle
  • # of students: 1,036
  • # of teachers: 76
4
GreatSchools Rating

Sherman High School

  • Education Level: High
  • # of students: 1,780
  • # of teachers: 119
5
GreatSchools Rating
 

$330,300$403,700$367,000

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$1,275
Property Tax -$842
Property Insurance -$172
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 14% of earned rent to cover both maintenance and periods of vacancy.

$367,000

PROJECTED PRICE

$2,210

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$103,005

INVESTMENT

$103,005

Down Payment
$91,750
Rehab Estimate
$5,750
Closing Costs
$5,505

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,275

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,750
Loan Amount $275,250
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$1,828

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,467

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2103$2,400
$2,400
RENT COMPS ANALYSIS
  • 2904 Canyon Creek Drive Sherman, TX 2
    • 4 beds 3 baths ∙ 2,667 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,667 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $0.83
    •  
  • 2904 Sedalia Trail Sherman, TX 1
    • 4 beds 3 baths ∙ 2,495 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,495 Sqft ∙ Built 2014
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.88
    •  
  • 520 Appaloosa Lane Sherman, TX 3
    • 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 2016
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.97
    •  
PROPERTY LISTING DETAILS
Jeff Dowden
Re/max Signature Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14502587
Last Updated: 01/23/2021
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