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304 Blythe Bridge Drive Roanoke, TX 76262

3 Beds 2 Baths 1,629 sqft Built 2008

$320,000

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $196.44
  • 3 Days on Market
  • MLS # : 14498355
  • Updated Date : 01/15/2021 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,629 sqft
  • Baths : 2 full
Listing Agent

Lily Moore Realty

Listing Agent's Description

Charming single story in sought after Briarwyck, just steps away from community pool, park, trails and walking distance to elementary school! Beautiful stone & brick elevation with front porch! Spacious eat-in kitchen offers island, granite counters, cherry cabinets, stainless steel appliances & breakfast bar open to living room! Master suite boasts jetted tub, double sinks & walk-in closet! 2 generous secondary bedrooms! Great sized backyard with covered patio for grilling! LOW ROANOKE TAXES! Great location close to dining, shopping & highways!

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

Neighborhood: Briarwyck

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k464k

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

Neighborhood: Briarwyck

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262946

* 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
Roanoke Elementary School Primary Regular 731 45 6
Medlin Middle School Middle Regular 1,078 65 8

Roanoke Elementary School

  • Education Level: Primary
  • # of students: 731
  • # of teachers: 45
6
GreatSchools Rating

Medlin Middle School

  • Education Level: Middle
  • # of students: 1,078
  • # of teachers: 65
8
GreatSchools Rating
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,111
Property Tax -$558
Property Insurance -$121
HOA -$45
Property Management Fees -$99
CASH FLOW
-$54

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.

$320,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.2%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$11,116

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $1,739

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7503$1,7504$1,7955$1,880
$1,880
RENT COMPS ANALYSIS
  • 304 Blythe Bridge Drive Roanoke, TX 5
    • 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $1.15
    •  
  • 1909 Belmont Drive Roanoke, TX 1
    • 3 beds 2 baths ∙ 1,703 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,703 Sqft ∙ Built 2002
    property image
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.97
    •  
  • 321 Foreston Drive Roanoke, TX 2
    • 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 2001
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.09
    •  
  • 1805 Belmont Drive Roanoke, TX 3
    • 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 2002
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.09
    •  
  • 324 Wenrick Drive Roanoke, TX 4
    • 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 2001
    property image
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.12
    •  
PROPERTY LISTING DETAILS
Lily Moore
Lily Moore Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14498355
Last Updated: 01/15/2021
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