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300 Catherine Street Joshua, TX 76058

3 Beds 2 Baths 1,602 sqft Built 2005

$224,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $139.83
  • 3 Days on Market
  • MLS # : 14515129
  • Updated Date : 02/13/2021 at 10:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,602 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty, Llc

Listing Agent's Description

Don't miss this beautiful home in the heart of Joshua! Walking distance to the city park & splash pad. This home sits on a good sized corner lot with quick access to Chisholm Trail Parkway. This home features nice flooring throughout with laminate in the living, tile in the wet areas and carpet in the bedrooms. Master en-suite offers his & her closets and sinks as well as a great garden tub for soaking away a long day. Wood burning fireplace in the living room is perfect for those freezing arctic spells here in Texas. When it warms up the back yard will be the place to be with a covered patio and the large open deck. Just imagine those back yard BBQ's with friends enjoying those summer nights.

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: Oak Trail Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $98k243k

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

Neighborhood: Oak Trail Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9861795

* 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
 

$201,600$246,400$224,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$778
Property Tax -$537
Property Insurance -$120
Property Management Fees -$99
CASH FLOW
$26

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.

$224,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.5%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

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

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$65,110

INVESTMENT

$65,110

Down Payment
$56,000
Rehab Estimate
$5,750
Closing Costs
$3,360

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$778

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,000
Loan Amount $168,000
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$11,028

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,558

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4003$1,4004$1,5605$1,595
$1,595
RENT COMPS ANALYSIS
  • 300 Catherine Street Joshua, TX 4
    • 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.97
    •  
  • 412 Dakota Drive Joshua, TX 1
    • 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 2000
    property image
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.95
    •  
  • 112 Bentley Drive Joshua, TX 2
    • 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1996
    property image
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.04
    •  
  • 412 Grayson Court Joshua, TX 3
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 2007
    property image
    LEASED 01/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.91
    •  
  • 314 Catherine Street Joshua, TX 5
    • 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 2005
    property image
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.99
    •  
PROPERTY LISTING DETAILS
Stephanie Simmons
Fathom Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14515129
Last Updated: 02/13/2021
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