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307 Golden Sands Lane Princeton, TX 75407

4 Beds 3 Baths 2,171 sqft Built 2020

$272,900

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $125.70
  • 3 Days on Market
  • MLS # : 14467117
  • Updated Date : 11/06/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,171 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lgi Homes

Listing Agent's Description

The Cypress is a gorgeous, two-story home featuring an open floor plan, 4 bedrooms and 2.5 baths. The Cypress showcases a master suite on the main floor complete with an in-suite bathroom with double sinks and a garden tub. This new home comes with thousands of dollars in upgrades already included such as granite countertops, 42” upper wood cabinets, energy-efficient kitchen appliances, a fully fenced back yard, and an attached two-car garage with a Wi-Fi-enabled opener. Schedule your tour of the Cypress plan at Princeton Crossroads today!

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: 75407

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $114k243k

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

Zip Code: 75407

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8671734

* 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
Godwin Elementary School Primary Regular 683 40 8
Clark Junior High School Middle Regular 540 33 8
Princeton High School High Regular 1,048 67 6

Godwin Elementary School

  • Education Level: Primary
  • # of students: 683
  • # of teachers: 40
8
GreatSchools Rating

Clark Junior High School

  • Education Level: Middle
  • # of students: 540
  • # of teachers: 33
8
GreatSchools Rating

Princeton High School

  • Education Level: High
  • # of students: 1,048
  • # of teachers: 67
6
GreatSchools Rating
 

$245,610$300,190$272,900

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,007
Property Tax -$569
Property Insurance -$153
HOA -$25
Property Management Fees -$99
CASH FLOW
-$102

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$272,900

PROJECTED PRICE

$1,750

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 3.00%
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$900k

PROJECTED ANNUAL CASH FLOW

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

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$74,319

INVESTMENT

$74,319

Down Payment
$68,225
Rehab Estimate
$2,000
Closing Costs
$4,094

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,225
Loan Amount $204,675
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$7,143

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,769

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,745
1$1,7452$1,7503$1,950
$1,950
RENT COMPS ANALYSIS
  • 307 Golden Sands Lane Princeton, TX 2
    • 4 beds 3 baths ∙ 2,171 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,171 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.81
    •  
  • 2305 Denali Court Princeton, TX 1
    • 4 beds 3 baths ∙ 2,170 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,170 Sqft ∙ Built 2019
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.80
    •  
  • 787 Myrtle Lane Princeton, TX 3
    • 5 beds 3 baths ∙ 2,339 Sqft ∙ Built 2020 5 beds 3 baths ∙ 2,339 Sqft ∙ Built 2020
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.83
    •  
PROPERTY LISTING DETAILS
Mona Hill
Lgi Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467117
Last Updated: 11/06/2020
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