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2916 Canyon Creek Drive Sherman, TX 75092

4 Beds 3 Baths 2,315 sqft Built 2020

INVESTimate

$337,000

List Price

$1,610

$1,449 - $1,771

Rent Est.

$357,557  ( +6.10%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $145.57
  • 5 Days on Market
  • MLS # : 14418904
  • Updated Date : 08/22/2020 at 18:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,315 sqft
  • Baths : 2 full , 1 half
Listing Agent

Julio Romero Realtors, Llc

Listing Agent's Description

Gorgeous new construction with waterfront pond view in O'Hanlon Ranch. 4 bedrooms with walk-in closets. Tons of natural light flows into the space with high ceilings. Open concept living area, entertainers kitchen features a gas cook top, stainless steel appliances, quartz countertops, marble floors, and custom cabinetry that goes up to the ceiling. You’ll have a private office space and a laundry room conveniently located next to the garage entry. Quality modern black fixtures and nail down hardwood floors through out the home.

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: 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
 

$303,300$370,700$337,000

PURCHASE PRICE

$1,449$1,771$1,610

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-$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$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,243
Property Tax -$596
Property Insurance -$153
Property Management Fees -$99
CASH FLOW
-$481

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$337,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 6.10%
Maintenance Year (1-5) 3.00%
Vacancy 6.00%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,305

INVESTMENT

$91,305

Down Payment
$84,250
Rehab Estimate
$2,000
Closing Costs
$5,055

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,243

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,250
Loan Amount $252,750
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$17

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,072

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,610
1$1,6102$2,2003$2,200
$2,200
RENT COMPS ANALYSIS
  • 2916 Canyon Creek Drive Sherman, TX 1
    • 4 beds 3 baths ∙ 2,315 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,315 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.70
    •  
  • 4707 Liberty Hill Sherman, TX 2
    • 4 beds 3 baths ∙ 2,412 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,412 Sqft ∙ Built 2015
    property image
    LEASED 03/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.91
    •  
  • 2904 Sedalia Trail Sherman, TX 3
    • 4 beds 3 baths ∙ 2,495 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,495 Sqft ∙ Built 2014
    property image
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.88
    •  
PROPERTY LISTING DETAILS
Kimberly Martinez
Julio Romero Realtors, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418904
Last Updated: 08/22/2020
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