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309 Waters Edge Drive Argyle, TX 76226

4 Beds 4 Baths 3,168 sqft Built 2020

$660,177

List Price

$3,660

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $208.39
  • 2 Days on Market
  • MLS # : 14478121
  • Updated Date : 11/28/2020 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,168 sqft
  • Baths : 4 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14478121 - Built by Coventry Homes - February completion! ~ This magnificent home has it all! This home features astonishing architectural details and an open floor plan with spacious rooms and a generational suite. The gourmet kitchen is loaded with upgrades, including custom cabinetry, a massive island work station and double ovens. The primary suite is exquisite with vaulted ceilings an custom trim details. The generational suite hosts a private living room and a luxurious bathroom that features a walk-in shower. Enjoy entertaining friends and family in the game room or on the enormous covered patio. This home is everything you have dreamed of and more!!

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: 76226

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k417k

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

Zip Code: 76226

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262773

* 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
Argyle Intermediate School Primary Regular 295 17 8
Argyle Intermediate School Middle Regular 295 17 8
Argyle High School High Regular 711 50 8

Argyle Intermediate School

  • Education Level: Primary
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle Intermediate School

  • Education Level: Middle
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle High School

  • Education Level: High
  • # of students: 711
  • # of teachers: 50
8
GreatSchools Rating
 

$594,159$726,195$660,177

PURCHASE PRICE

$3,294$4,026$3,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,660
EXPENSES Loan Payment -$2,436
Property Tax -$1,313
Property Insurance -$210
HOA -$142
Property Management Fees -$99
CASH FLOW
-$539

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.

$660,177

PROJECTED PRICE

$3,660

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.6%
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$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$176,947

INVESTMENT

$176,947

Down Payment
$165,044
Rehab Estimate
$2,000
Closing Costs
$9,903

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,436

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $165,044
Loan Amount $495,133
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$3,989

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,660

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $3,643

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$3,195
1$3,1952$3,5003$3,6604$3,700
$3,700
RENT COMPS ANALYSIS
  • 309 Waters Edge Drive Argyle, TX 3
    • 4 beds 4 baths ∙ 3,168 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,168 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $3,660
    • $1.16
    •  
  • 1504 Monarch Trail Northlake, TX 1
    • 4 beds 3 baths ∙ 2,940 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,940 Sqft ∙ Built 2020
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $1.09
    •  
  • 6605 Roughleaf Ridge Road Flower Mound, TX 2
    • 4 beds 3 baths ∙ 2,833 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,833 Sqft ∙ Built 2018
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.24
    •  
  • 6600 Elderberry Way Flower Mound, TX 4
    • 4 beds 4 baths ∙ 3,309 Sqft ∙ Built 2019 4 beds 4 baths ∙ 3,309 Sqft ∙ Built 2019
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.12
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14478121
Last Updated: 11/28/2020
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