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300 Ranch Road Justin, TX 76247

3 Beds 4 Baths 2,543 sqft Built 2021

$363,149

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $142.80
  • 7 Days on Market
  • MLS # : 14493881
  • Updated Date : 01/04/2021 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,543 sqft
  • Baths : 2 full , 2 half
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14493881 - Built by Kindred Homes - February completion! ~ Welcome to the wonderful neighborhood of Reatta Ridge in Justin Texas. This home is a 3 bed, 2 bath , 2 half bath, home with a game room. This home boasts a wide open floor plan, smart home technology, and upgraded flooring. This wonderful neighborhood boast amenities such as a community pool, and a playground. Justin is one of the fastest growing communities in North Texas, and is perfect for the family looking for the quiet side of DFW. This home is also located in the highly rated Northwest ISD. Come see us at Reatta Ridge!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Zip Code: 76247

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 76247

ZipNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10532171

* 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
Justin Elementary School Primary Regular 506 33 5
Gene Pike Middle School Middle Regular 743 53 7
Northwest High School High Regular 2,793 170 6

Justin Elementary School

  • Education Level: Primary
  • # of students: 506
  • # of teachers: 33
5
GreatSchools Rating

Gene Pike Middle School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 53
7
GreatSchools Rating

Northwest High School

  • Education Level: High
  • # of students: 2,793
  • # of teachers: 170
6
GreatSchools Rating
 

$326,834$399,464$363,149

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,261
Property Tax -$757
Property Insurance -$174
HOA -$25
Property Management Fees -$99
CASH FLOW
-$276

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.

$363,149

PROJECTED PRICE

$2,040

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.7%
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-$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$98,234

INVESTMENT

$98,234

Down Payment
$90,787
Rehab Estimate
$2,000
Closing Costs
$5,447

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,261

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $90,787
Loan Amount $272,362
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$1,842

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,047

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,8503$2,040
$2,040
RENT COMPS ANALYSIS
  • 300 Ranch Road Justin, TX 3
    • 3 beds 4 baths ∙ 2,543 Sqft ∙ Built 2021 3 beds 4 baths ∙ 2,543 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.80
    •  
  • 210 Cedar Crest Drive Justin, TX 1
    • 3 beds 3 baths ∙ 2,206 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,206 Sqft ∙ Built 2004
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.78
    •  
  • 433 Chisholm Trail Justin, TX 2
    • 4 beds 2 baths ∙ 2,236 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,236 Sqft ∙ Built 2008
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.83
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14493881
Last Updated: 01/04/2021
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