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308 W Paddock Willow Park, TX 76087

3 Beds 2 Baths 2,203 sqft Built 2020

$375,000

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $170.22
  • 4 Days on Market
  • MLS # : 14464911
  • Updated Date : 11/07/2020 at 20:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,203 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathawayhs Acr

Listing Agent's Description

Exquisite Custom Windmiller Home in Aledo schools. This Livingston Floor Plan offers 3 beds, 2 baths, and a 2 car garage in the NEW Reserves at Trinity. Spacious living with high ceiling features wood burning fireplace and leads to covered patio. Luxurious master suite features a luxurious bath. Bath has double vanities, separate shower & corner soaker tub plus a humongous walk in. Large guest rooms have walk ins. Home has energy efficient features including Low-E windows. More floor plans available.

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: 76087

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k342k

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

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Coder Elementary School Primary Regular 425 27 7
Aledo Middle School Middle Regular 804 47 9
Aledo High School High Regular 1,193 72 7

Coder Elementary School

  • Education Level: Primary
  • # of students: 425
  • # of teachers: 27
7
GreatSchools Rating

Aledo Middle School

  • Education Level: Middle
  • # of students: 804
  • # of teachers: 47
9
GreatSchools Rating

Aledo High School

  • Education Level: High
  • # of students: 1,193
  • # of teachers: 72
7
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,384
Property Tax -$798
Property Insurance -$155
HOA -$25
Property Management Fees -$99
CASH FLOW
-$140

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.

$375,000

PROJECTED PRICE

$2,320

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
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-$4.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,375

INVESTMENT

$101,375

Down Payment
$93,750
Rehab Estimate
$2,000
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$9,911

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $2,335

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$2,320
1$2,3202$2,3503$2,4004$2,5005$2,600
$2,600
RENT COMPS ANALYSIS
  • 308 W Paddock Willow Park, TX 1
    • 3 beds 2 baths ∙ 2,203 Sqft ∙ Built 2020 3 beds 2 baths ∙ 2,203 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $1.05
    •  
  • 604 Ardath Road Aledo, TX 2
    • 3 beds 2 baths ∙ 2,334 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,334 Sqft ∙ Built 2018
    property image
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.01
    •  
  • 15116 Roderick Road Aledo, TX 3
    • 4 beds 3 baths ∙ 2,402 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,402 Sqft ∙ Built 2017
    property image
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.00
    •  
  • 15017 Teasley Avenue Aledo, TX 4
    • 3 beds 3 baths ∙ 2,244 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,244 Sqft ∙ Built 2017
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.11
    •  
  • 14925 Belclaire Avenue Aledo, TX 5
    • 3 beds 2 baths ∙ 2,317 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,317 Sqft ∙ Built 2018
    property image
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.12
    •  
PROPERTY LISTING DETAILS
Alexander Chandler
Berkshire Hathawayhs Acr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464911
Last Updated: 11/07/2020
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