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308 Brinkley Drive Saginaw, TX 76179

3 Beds 2 Baths 2,148 sqft Built 2021

$339,900

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $158.24
  • 6 Days on Market
  • MLS # : 14505979
  • Updated Date : 01/26/2021 at 15:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,148 sqft
  • Baths : 2 full
Listing Agent

Silversage Realty

Listing Agent's Description

THIS BEAUTIFUL OPEN CONCEPT PLAN IS LOCATED IN THE POPULAR WILLOW VISTA ESTATES COMMUNITY IN SAGINAW. THIS PLAN HAS 3 BEDROOMS, 2 BATHS WITH A SECOND FAMILY-LIVING AREA. GREAT FOR ENTERTAINING! THE KITCHEN BOASTS CUSTOM MADE CABINETS, AN OVERSIZED ISLAND AND IS OPEN TO BOTH LIVING AREAS. THE MASTER SUITE HAS A BEAUTIFUL WALK IN SHOWER AND HUGE WALK IN CLOSET THAT IS CONNECTED TO THE UTILITY ROOM FOR CONVENIENCE. ACROSS THE STREET FROM LARGE PARKS WITH WALKING TRAILS, SOFTBALL, VOLLEYBALL AND BASKETBALL COURTS. THERE ARE ALSO 2 DOG PARKS NEARBY. ACCESS TO THE COMMUNITY POOL!

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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: 76179

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $115k243k

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

Zip Code: 76179

ZipNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11251734

* 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
Willow Creek Elementary School Primary Regular 715 43 4
Creekview Middle School Middle Regular 801 47 7
Boswell High School High Regular 1,605 106 7

Willow Creek Elementary School

  • Education Level: Primary
  • # of students: 715
  • # of teachers: 43
4
GreatSchools Rating

Creekview Middle School

  • Education Level: Middle
  • # of students: 801
  • # of teachers: 47
7
GreatSchools Rating

Boswell High School

  • Education Level: High
  • # of students: 1,605
  • # of teachers: 106
7
GreatSchools Rating
 

$305,910$373,890$339,900

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,181
Property Tax -$738
Property Insurance -$151
HOA -$33
Property Management Fees -$99
CASH FLOW
-$532

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.

$339,900

PROJECTED PRICE

$1,670

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.5%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$92,074

INVESTMENT

$92,074

Down Payment
$84,975
Rehab Estimate
$2,000
Closing Costs
$5,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,975
Loan Amount $254,925
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$1

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,794

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6703$1,7004$1,7755$1,795
$1,795
RENT COMPS ANALYSIS
  • 308 Brinkley Drive Saginaw, TX 2
    • 3 beds 2 baths ∙ 2,148 Sqft ∙ Built 2021 3 beds 2 baths ∙ 2,148 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.78
    •  
  • 356 Marsha Street Saginaw, TX 1
    • 4 beds 2 baths ∙ 1,962 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,962 Sqft ∙ Built 2001
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.81
    •  
  • 1121 Little John Drive Saginaw, TX 3
    • 3 beds 2 baths ∙ 1,958 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,958 Sqft ∙ Built 2015
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.87
    •  
  • 500 Leatherman Drive Saginaw, TX 4
    • 3 beds 3 baths ∙ 2,107 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,107 Sqft ∙ Built 2005
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.84
    •  
  • 213 Canterbury Drive Saginaw, TX 5
    • 4 beds 3 baths ∙ 2,178 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,178 Sqft ∙ Built 2001
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.82
    •  
PROPERTY LISTING DETAILS
Sharon Mcbee
Silversage Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14505979
Last Updated: 01/26/2021
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