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310 Pigg Road Waxahachie, TX 75165

3 Beds 3 Baths 2,874 sqft Built 2008

$650,000

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $226.17
  • 8 Days on Market
  • MLS # : 14474573
  • Updated Date : 11/22/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,874 sqft
  • Baths : 3 full
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

Room to Roam! 14 acres outside the city limits! Close to Waxahachie and Ennis this property has so much to offer. 2 ponds! One is spring fed and the other is stocked for fishing. House has 2 master suites and a large living room with plenty of room to entertain. Back house could be a man cave, mother-in-law suite or home office. The possibilities are endless. There is room to build a shop and run your business from home!

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: 75165

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $112k243k

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

Zip Code: 75165

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9841734

* 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
Clift Elementary School Primary Regular 462 31 5
Howard Junior High School Middle Regular 857 62 6
Waxahachie High School High Regular 1,985 138 4

Clift Elementary School

  • Education Level: Primary
  • # of students: 462
  • # of teachers: 31
5
GreatSchools Rating

Howard Junior High School

  • Education Level: Middle
  • # of students: 857
  • # of teachers: 62
6
GreatSchools Rating

Waxahachie High School

  • Education Level: High
  • # of students: 1,985
  • # of teachers: 138
4
GreatSchools Rating
 

$585,000$715,000$650,000

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$2,398
Property Tax -$1,411
Property Insurance -$193
Property Management Fees -$99
CASH FLOW
-$1,891

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.

$650,000

PROJECTED PRICE

$2,210

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.1%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$2,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$4,634

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,371

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,2003$2,210
$2,210
RENT COMPS ANALYSIS
  • 310 Pigg Road Waxahachie, TX 3
    • 3 beds 3 baths ∙ 2,874 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,874 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $0.77
    •  
  • 203 Arabian Road Waxahachie, TX 1
    • 4 beds 3 baths ∙ 2,695 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,695 Sqft ∙ Built 2008
    LEASED 06/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.78
    •  
  • 100 Citation Lane Waxahachie, TX 2
    • 4 beds 3 baths ∙ 2,534 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,534 Sqft ∙ Built 2018
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.87
    •  
PROPERTY LISTING DETAILS
Michelle Appling
Century 21 Mike Bowman, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14474573
Last Updated: 11/22/2020
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