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3049 Founders Place Abilene, TX 79601

3 Beds 2 Baths 1,648 sqft Built 2007

INVESTimate

$197,500

List Price

$1,500

$1,350 - $1,650

Rent Est.

$203,603  ( +3.09%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $119.84
  • 4 Days on Market
  • MLS # : 14419382
  • Updated Date : 08/23/2020 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,648 sqft
  • Baths : 2 full
Listing Agent

Colleen Frost Real Estate Serv

Listing Agent's Description

Located in an established subdivision this updated 3 bedroom and 2 bath home is just waiting to make some new memories with your family. Front yard sprinkler system keeps that lush grass green year 'round. 12 x 10 storage shed in back will convey to help keep you organized. Updated tile floor, 2020 new insulated energy efficient garage door, new water heater and disposal in 2019, along with a new dishwasher in 2020. Top that off with new ceiling fans and this home is move in ready!

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

Neighborhood: Buck Creek Area

NeighborhoodNIR Market*CityMarket2010Year2005 Q3201970k80k90k100k110k120k130k140k150kPrice in $66k157k

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

Neighborhood: Buck Creek Area

NeighborhoodNIR Market*CityMarket2015Year20112019 Q2850900950100010501100115012001250Rent in $8171287

* 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
Taylor Elementary School Primary Regular 600 34 5
Craig Middle School Middle Regular 911 61 4
Abilene High School High Regular 1,925 131 4

Taylor Elementary School

  • Education Level: Primary
  • # of students: 600
  • # of teachers: 34
5
GreatSchools Rating

Craig Middle School

  • Education Level: Middle
  • # of students: 911
  • # of teachers: 61
4
GreatSchools Rating

Abilene High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 131
4
GreatSchools Rating
 

$177,750$217,250$197,500

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$729
Property Tax -$425
Property Insurance -$121
HOA -$12
Property Management Fees -$99
CASH FLOW
$114

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 18% of earned rent to cover both maintenance and periods of vacancy.

$197,500

PROJECTED PRICE

$1,500

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 3.09%
Maintenance Year (1-5) 8.00%
Vacancy 9.90%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,088

INVESTMENT

$58,088

Down Payment
$49,375
Rehab Estimate
$5,750
Closing Costs
$2,963

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$729

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,375
Loan Amount $148,125
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$9,025

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,590

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,4953$1,5004$1,5955$1,595
$1,595
RENT COMPS ANALYSIS
  • 3049 Founders Place Abilene, TX 3
    • 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.91
    •  
  • 2265 Old Ironsides Road Abilene, TX 1
    • 3 beds 2 baths ∙ 1,554 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,554 Sqft ∙ Built 2005
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.96
    •  
  • 2317 Independence Boulevard Abilene, TX 2
    • 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 2006
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.92
    •  
  • 2420 Plymouth Rock Road Abilene, TX 4
    • 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 2018
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.97
    •  
  • 2425 Homestead Place Abilene, TX 5
    • 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 2017
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.01
    •  
PROPERTY LISTING DETAILS
Magan Anderson
Colleen Frost Real Estate Serv
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419382
Last Updated: 08/23/2020
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