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302 Misty Argyle, TX 76226

4 Beds 4 Baths 3,378 sqft Built 2020

$664,359

List Price

$3,580

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $196.67
  • 3 Days on Market
  • MLS # : 14485242
  • Updated Date : 12/11/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,378 sqft
  • Baths : 4 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14485242 - Built by Coventry Homes - February completion! ~ This magnificent home has it all! This 4-bedroom, 4-bathroom home features astonishing architectural details and an open floor plan with spacious rooms including generational living. The gourmet kitchen includes custom cabinetry, a massive 12ft island work station and a large walk-in pantry. The master suite is exquisite with vaulted ceilings, separate vanities in the bath, freestanding tub, an oversized spa shower with seat and a walk-in closet with access to the laundry room. Enjoy entertaining friends and family in the game room or the on the enormous covered patio. This home is everything you have dreamed of and more!

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: 76226

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k417k

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

Zip Code: 76226

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262773

* 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
Argyle Intermediate School Primary Regular 295 17 8
Argyle Intermediate School Middle Regular 295 17 8
Argyle High School High Regular 711 50 8

Argyle Intermediate School

  • Education Level: Primary
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle Intermediate School

  • Education Level: Middle
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle High School

  • Education Level: High
  • # of students: 711
  • # of teachers: 50
8
GreatSchools Rating
 

$597,923$730,795$664,359

PURCHASE PRICE

$3,222$3,938$3,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,580
EXPENSES Loan Payment -$2,451
Property Tax -$1,321
Property Insurance -$222
HOA -$142
Property Management Fees -$99
CASH FLOW
-$655

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.

$664,359

PROJECTED PRICE

$3,580

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.6%
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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$178,055

INVESTMENT

$178,055

Down Payment
$166,090
Rehab Estimate
$2,000
Closing Costs
$9,965

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,451

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $166,090
Loan Amount $498,269
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,696

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,580

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $3,569

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$3,580
1$3,5802$3,6003$3,6504$3,700
$3,700
RENT COMPS ANALYSIS
  • 302 Misty Argyle, TX 1
    • 4 beds 4 baths ∙ 3,378 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,378 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,580
    • $1.06
    •  
  • 6637 Elderberry Way Flower Mound, TX 2
    • 4 beds 4 baths ∙ 3,419 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,419 Sqft ∙ Built 2018
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.05
    •  
  • 321 Ellison Trace Argyle, TX 3
    • 4 beds 4 baths ∙ 3,641 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,641 Sqft ∙ Built 2014
    property image
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $1.00
    •  
  • 6600 Elderberry Way Flower Mound, TX 4
    • 4 beds 4 baths ∙ 3,309 Sqft ∙ Built 2019 4 beds 4 baths ∙ 3,309 Sqft ∙ Built 2019
    property image
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.12
    •  
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 #: 14485242
Last Updated: 12/11/2020
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