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304 Ruffin Road Mabank, TX 75147

3 Beds 2 Baths 1,159 sqft Built 2019

$172,500

List Price

$1,210

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
Built 2019 NEW CONSTRUCTION
November 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $148.84
  • 7 Days on Market
  • MLS # : 14468381
  • Updated Date : 11/10/2020 at 10:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,159 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday Realtors

Listing Agent's Description

Move In Ready! This adorable 3 bedroom, 2 bath, 2 car garage home offers a great floor plan with a very open concept. Living and kitchen area features laminate wood flooring, granite counter tops, stainless appliances, and dining space. This is one of the few homes in this area that actually offers a pantry & a separate utility room. Great split bedroom arrangement with nice size master bedroom and walk in closet. Wonderful fenced back yard and patio. Convenient location with close proximity to schools, shopping, and Hwy 175 for commuting.

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: 75147

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 75147

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$155,250$189,750$172,500

PURCHASE PRICE

$1,089$1,331$1,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,210
EXPENSES Loan Payment -$636
Property Tax -$264
Property Insurance -$94
Property Management Fees -$99
CASH FLOW
$116

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.

$172,500

PROJECTED PRICE

$1,210

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 2.2%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$47,713

INVESTMENT

$47,713

Down Payment
$43,125
Rehab Estimate
$2,000
Closing Costs
$2,588

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$636

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $43,125
Loan Amount $129,375
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$23,165

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,210

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,205

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,210
$1,210
RENT COMPS ANALYSIS
  • 304 Ruffin Road Mabank, TX 2
    • 3 beds 2 baths ∙ 1,159 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,159 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,210
    • $1.04
    •  
  • 209 Flying Bridge Drive Gun Barrel City, TX 1
    • 3 beds 2 baths ∙ 1,107 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,107 Sqft ∙ Built 2005
    property image
    LEASED 02/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $1.04
    •  
PROPERTY LISTING DETAILS
Laura Mcfaul
Ebby Halliday Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14468381
Last Updated: 11/10/2020
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