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3063 Fm 731 Burleson, TX 76028

3 Beds 2 Baths 1,572 sqft Built 1984

$180,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $114.50
  • 4 Days on Market
  • MLS # : 14473561
  • Updated Date : 11/19/2020 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,572 sqft
  • Baths : 2 full
Listing Agent

Neal Team Realty, Llc

Listing Agent's Description

Incredible investment opportunity on 2.02 acres in Joshua ISD. A new HVAC recently installed. The home has great potential with a little work. Small acreage in this location conveniently located between Joshua and Burleson is a rare find! Don't miss out!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Zip Code: 76028

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $119k258k

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

Zip Code: 76028

ZipNIR Market*CityMarket2010Year20002019 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
A.g. Elder Elementary School Primary Regular 546 41 6
A.g. Elder Elementary School Middle Regular 546 41 6
Joshua Ninth Grade Campus High Regular 391 29 7

A.g. Elder Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 41
6
GreatSchools Rating

A.g. Elder Elementary School

  • Education Level: Middle
  • # of students: 546
  • # of teachers: 41
6
GreatSchools Rating

Joshua Ninth Grade Campus

  • Education Level: High
  • # of students: 391
  • # of teachers: 29
7
GreatSchools Rating
 

$162,000$198,000$180,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$664
Property Tax -$432
Property Insurance -$118
Property Management Fees -$99
CASH FLOW
$337

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.

$180,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.92%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,450

INVESTMENT

$53,450

Down Payment
$45,000
Rehab Estimate
$5,750
Closing Costs
$2,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$664

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $45,000
Loan Amount $135,000
See What Happens When You Reinvest Cash Flow

13.17

YEARS SAVED

$43,208

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,750

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,5953$1,6504$2,500
$2,500
RENT COMPS ANALYSIS
  • 3063 Fm 731 Burleson, TX 3
    • 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.05
    •  
  • 110 Edgehill Road Joshua, TX 1
    • 3 beds 2 baths ∙ 1,707 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,707 Sqft ∙ Built 1981
    property image
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.92
    •  
  • 3908 Cross Timber Road Burleson, TX 2
    • 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 1976
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.12
    •  
  • 2909 Shoreline Drive Burleson, TX 4
    • 4 beds 2 baths ∙ 1,917 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,917 Sqft ∙ Built 2003
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.30
    •  
PROPERTY LISTING DETAILS
Brandon Neal
Neal Team Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14473561
Last Updated: 11/19/2020
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