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2974 Masters Court Burleson, TX 76028

3 Beds 2 Baths 1,814 sqft Built 2004

$239,900

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $132.25
  • 2 Days on Market
  • MLS # : 14508713
  • Updated Date : 01/30/2021 at 14:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,814 sqft
  • Baths : 2 full
Listing Agent

Century 21 Judge Fite Company

Listing Agent's Description

Located in a cul-de-sac, this well maintained home is in the highly sought after Joshua ISD. Open concept with a great kitchen, breakfast area and spacious living room. Formal dining for entertaining. Split bedroom arrangement. The master suite is oversized. Master bath has garden tub, separate shower, walk-closet. The secondary bedrooms are good size. living room features a wonderful gas fireplace. Enjoy your mornings or evenings on the oversized back porch. Backyard, fully fenced with cute storage building. The garage features golf cart space. Newer HVAC.The home is beautifully landscaped. walking and bike trails, community pool, fishing at the private lake, golf course and covered playground.

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

Neighborhood: Fairway Vistas

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $88k351k

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

Neighborhood: Fairway Vistas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9452051

* 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
Joshua Ninth Grade Campus High Regular 391 29 7
Joshua High School High Regular 995 75 5

Joshua Ninth Grade Campus

  • Education Level: High
  • # of students: 391
  • # of teachers: 29
7
GreatSchools Rating

Joshua High School

  • Education Level: High
  • # of students: 995
  • # of teachers: 75
5
GreatSchools Rating
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$833
Property Tax -$575
Property Insurance -$132
HOA -$4
Property Management Fees -$99
CASH FLOW
$66

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.

$239,900

PROJECTED PRICE

$1,710

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$833

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$14,000

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,723

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7103$1,9004$1,9505$2,000
$2,000
RENT COMPS ANALYSIS
  • 2974 Masters Court Burleson, TX 2
    • 3 beds 2 baths ∙ 1,814 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,814 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.94
    •  
  • 219 Arrowhead Drive Burleson, TX 1
    • 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 2004
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.92
    •  
  • 537 Oakbrook Drive Burleson, TX 3
    • 3 beds 2 baths ∙ 1,974 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,974 Sqft ∙ Built 2004
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.96
    •  
  • 2836 Greenway Drive Burleson, TX 4
    • 3 beds 2 baths ∙ 1,996 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,996 Sqft ∙ Built 2006
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.98
    •  
  • 2525 Greenhaven Drive Burleson, TX 5
    • 4 beds 2 baths ∙ 2,135 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,135 Sqft ∙ Built 2001
    LEASED 01/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.94
    •  
PROPERTY LISTING DETAILS
Ronnie Warren
Century 21 Judge Fite Company
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14508713
Last Updated: 01/30/2021
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