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309 Lottie Lane Saginaw, TX 76179

3 Beds 2 Baths 2,050 sqft Built 2007

$295,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $143.90
  • 3 Days on Market
  • MLS # : 14475028
  • Updated Date : 11/22/2020 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,050 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Better days are coming - Find them right here in this one of a kind updated home located within walking distance to Willow Creek Park. This home showcases an open concept design, new wood floors, recessed lighting, an abundance of natural light, sophisticated details & statement updates throughout! The impeccably designed kitchen features include ss appliances, a quartz countertop & marble island & new backsplash. OWNERS RETREAT with spa-inspired bathroom boast new quartz countertops w double sinks, high end plumbing fixtures, modern hardware, new tile, new freestanding tub & so much more. Office space, secondary bedrooms, covered patio & oversized garage w built-in cabinets. INCREDIBLE DEAL IN EMISD!!

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

Neighborhood: Willow Creek Estates at Saginaw

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $115k260k

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

Neighborhood: Willow Creek Estates at Saginaw

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800Rent in $11261860

* 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
Saginaw Elementary School Primary Regular 416 26 5
Prairie Vista Middle School Middle Regular 866 53 5

Saginaw Elementary School

  • Education Level: Primary
  • # of students: 416
  • # of teachers: 26
5
GreatSchools Rating

Prairie Vista Middle School

  • Education Level: Middle
  • # of students: 866
  • # of teachers: 53
5
GreatSchools Rating
 

$265,500$324,500$295,000

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 -$1,088
Property Tax -$641
Property Insurance -$146
Property Management Fees -$99
CASH FLOW
-$224

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.

$295,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.0%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,426

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
  • $0.85

    LIST RENT PER SQFT
  • $1,778

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6953$1,6954$1,6955$1,750
$1,750
RENT COMPS ANALYSIS
  • 309 Lottie Lane Saginaw, TX 5
    • 3 beds 2 baths ∙ 2,050 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,050 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.85
    •  
  • 509 Bailey Street Saginaw, TX 1
    • 4 beds 2 baths ∙ 1,943 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,943 Sqft ∙ Built 1999
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.82
    •  
  • 117 Blue Wood Drive Saginaw, TX 2
    • 3 beds 2 baths ∙ 1,916 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,916 Sqft ∙ Built 2001
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.88
    •  
  • 308 Marsha Street Saginaw, TX 3
    • 4 beds 2 baths ∙ 1,866 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,866 Sqft ∙ Built 1999
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.91
    •  
  • 1033 Westgrove Drive Saginaw, TX 4
    • 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 1996
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.86
    •  
PROPERTY LISTING DETAILS
Byron Haynes
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475028
Last Updated: 11/22/2020
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