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2913 Standing Tall Court Heath, TX 75126

4 Beds 3 Baths 2,996 sqft Built 2020

$449,990

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $150.20
  • 6 Days on Market
  • MLS # : 14470296
  • Updated Date : 11/17/2020 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,996 sqft
  • Baths : 3 full
Listing Agent

Gehan Homes Brokerage, Llc

Listing Agent's Description

Brand NEW Two-Story Gehan Home with 3 Bedrooms, 3 Bathrooms, 2 Car Garage and so much more! This home has a covered back patio, spacious pantry, open concept from kitchen to family. An elegant entry welcomes you with style, with high ceilings. The spacious kitchen features hardwood floors and a large island. The cozy breakfast nook offers a unique view to the family room. Enjoy the relaxing master suite and a luxurious master bath. This plan offers plenty of room to grow.

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: 75126

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k538k

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

Zip Code: 75126

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263246

* 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
Amy Parks-heath Elementary School Primary Regular 781 44 9
Amy Parks-heath Elementary School Middle Regular 781 44 9
Rockwall-heath High School High Regular 2,200 119 8

Amy Parks-heath Elementary School

  • Education Level: Primary
  • # of students: 781
  • # of teachers: 44
9
GreatSchools Rating

Amy Parks-heath Elementary School

  • Education Level: Middle
  • # of students: 781
  • # of teachers: 44
9
GreatSchools Rating

Rockwall-heath High School

  • Education Level: High
  • # of students: 2,200
  • # of teachers: 119
8
GreatSchools Rating
 

$404,991$494,989$449,990

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$1,660
Property Tax -$805
Property Insurance -$200
HOA -$185
Property Management Fees -$99
CASH FLOW
-$460

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.

$449,990

PROJECTED PRICE

$2,490

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 3.00%
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-$10k-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$121,247

INVESTMENT

$121,247

Down Payment
$112,498
Rehab Estimate
$2,000
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,498
Loan Amount $337,493
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$954

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,517

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,3753$2,4504$2,4905$3,000
$3,000
RENT COMPS ANALYSIS
  • 2913 Standing Tall Court Heath, TX 4
    • 4 beds 3 baths ∙ 2,996 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,996 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $0.83
    •  
  • 1007 Concan Drive Forney, TX 1
    • 4 beds 3 baths ∙ 2,814 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,814 Sqft ∙ Built 2005
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.80
    •  
  • 1209 Templin Avenue Forney, TX 2
    • 4 beds 4 baths ∙ 2,964 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,964 Sqft ∙ Built 2017
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.80
    •  
  • 1211 Templin Avenue Forney, TX 3
    • 5 beds 4 baths ∙ 3,035 Sqft ∙ Built 2017 5 beds 4 baths ∙ 3,035 Sqft ∙ Built 2017
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.81
    •  
  • 2073 Fm 740 Heath, TX 5
    • 4 beds 3 baths ∙ 3,172 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,172 Sqft ∙ Built 2002
    LEASED 11/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.95
    •  
PROPERTY LISTING DETAILS
April Maki
Gehan Homes Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470296
Last Updated: 11/17/2020
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