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2960 County Road 643 Nevada, TX 75173

4 Beds 2 Baths 1,957 sqft Built 2004

$300,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $153.30
  • 1 Days on Market
  • MLS # : 14505525
  • Updated Date : 01/23/2021 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,957 sqft
  • Baths : 2 full
Listing Agent

Listing Spark

Listing Agent's Description

Beautifully updated 4 bedroom, 2 bathroom house on 1 acre! Fresh paint and new carpet make this home move-in ready! Located in Farmersville ISD, with NO HOA and NO city taxes! Open concept floor plan with 10ft ceilings and HUGE kitchen. Bright quartz countertops give the look of marble, without the maintenance. The kitchen also has a new oven and microwave, oversized island with seating, and plenty of cabinet space. The living room features a wood burning fireplace with a locally-sourced hand-made cedar mantel. The master bedroom has TWO walk-in closets, and an on-suite bathroom. The bathroom has double sinks, jetted tub, shower, and enclosed toilet. The two additional bedrooms are large and have spacious cl

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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: 75173

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $107k338k

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

Zip Code: 75173

ZipNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550160016501700Rent in $10451741

* 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
Farmersville Intermediate School Primary Regular 490 31 6
Farmersville Junior High School Middle Regular 373 24 8
Farmersville High School High Regular 450 35 6

Farmersville Intermediate School

  • Education Level: Primary
  • # of students: 490
  • # of teachers: 31
6
GreatSchools Rating

Farmersville Junior High School

  • Education Level: Middle
  • # of students: 373
  • # of teachers: 24
8
GreatSchools Rating

Farmersville High School

  • Education Level: High
  • # of students: 450
  • # of teachers: 35
6
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,042
Property Tax -$456
Property Insurance -$140
Property Management Fees -$99
CASH FLOW
$73

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.

$300,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$20,910

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,859

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,810
1$1,8102$2,050
$2,050
RENT COMPS ANALYSIS
  • 2960 County Road 643 Nevada, TX 1
    • 4 beds 2 baths ∙ 1,957 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,957 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.92
    •  
  • 3212 Gunsmoke Drive Farmersville, TX 2
    • 4 beds 3 baths ∙ 2,166 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,166 Sqft ∙ Built 2014
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.95
    •  
PROPERTY LISTING DETAILS
Aaron Jistel
Listing Spark
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14505525
Last Updated: 01/23/2021
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