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302 Brookview Drive Decatur, TX 76234

4 Beds 2 Baths 2,086 sqft Built 1984

INVESTimate

$319,000

List Price

$1,520

$1,368 - $1,672

Rent Est.

$343,308  ( +7.62%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $152.92
  • 1 Days on Market
  • MLS # : 14419371
  • Updated Date : 08/25/2020 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,086 sqft
  • Baths : 2 full
Listing Agent

Parker Properties

Listing Agent's Description

Rare find in highly sought after Brookhollow subdivision in Decatur! This recently updated home features 4 bed, 2 bath, recently installed granite, stainless steel appliances, painted cabinets, enclosed back patio and a large spray foamed 35x35 shop that is plumbed with a toilet and sink and has electricity as well. This home sits on nearly half an acre and has been well maintained and taken care of. Brookhollow is a well established neighborhood just minutes from Downtown Decatur and is known for its large trees, generous lot sizes and being close proximity to all of Decatur as well as 287 toward the metroplex and a short drive from 114 in Boyd. Don't miss your opportunity on this one!

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: 76234

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $96k243k

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

Zip Code: 76234

ZipNIR Market*Market2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* 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
Decatur High School High Regular 897 59 5

Decatur High School

  • Education Level: High
  • # of students: 897
  • # of teachers: 59
5
GreatSchools Rating
 

$287,100$350,900$319,000

PURCHASE PRICE

$1,368$1,672$1,520

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 $1,520
EXPENSES Loan Payment -$1,177
Property Tax -$659
Property Insurance -$148
Property Management Fees -$99
CASH FLOW
-$563

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.

$319,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.62%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,285

INVESTMENT

$90,285

Down Payment
$79,750
Rehab Estimate
$5,750
Closing Costs
$4,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,177

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,750
Loan Amount $239,250
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$2

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,711

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,520
1$1,5202$1,950
$1,950
RENT COMPS ANALYSIS
  • 302 Brookview Drive Decatur, TX 1
    • 4 beds 2 baths ∙ 2,086 Sqft ∙ Built 1984 4 beds 2 baths ∙ 2,086 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.73
    •  
  • 1694 Preskitt Road Decatur, TX 2
    • 3 beds 2 baths ∙ 2,372 Sqft ∙ Built 1970 3 beds 2 baths ∙ 2,372 Sqft ∙ Built 1970
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.82
    •  
PROPERTY LISTING DETAILS
Jared Lucier
Parker Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419371
Last Updated: 08/25/2020
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