Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3101 Brookview Drive Corinth, TX 76210

4 Beds 3 Baths 3,056 sqft Built 1994

$316,000

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $103.40
  • 4 Days on Market
  • MLS # : 14515839
  • Updated Date : 02/12/2021 at 16:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,056 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Dallas Midtown

Listing Agent's Description

Beautifully Updated and ready for move in! This stunning 3056sf specious home boasts 4 beds & 2.5 baths! As you enter you will find 2 Living rooms with a beautiful see-through fireplace, 2 dining rooms, Large open kitchen with gas cooktop and an oversized walk in pantry, half bath & a large utility room! 2nd floor has a large game room, huge master with an oversized walk in closet, split floor plan with 3 bedrooms & a guest bathroom! Home has been recently updated including NEW Granite counter tops, Fresh paint throughout, New toilets, New faucets, New furnace, 2 New AC units & more! Back yard is great size, perfect for entertaining and has a large storage shed! Home is priced to sell and won't last long!

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

Neighborhood: Fairview Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k288k

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

Neighborhood: Fairview Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8111968

* 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
Corinth Elementary School Primary Regular 554 40 5
Lake Dallas Middle School Middle Regular 941 65 7
Lake Dallas High School High Regular 1,275 79 6

Corinth Elementary School

  • Education Level: Primary
  • # of students: 554
  • # of teachers: 40
5
GreatSchools Rating

Lake Dallas Middle School

  • Education Level: Middle
  • # of students: 941
  • # of teachers: 65
7
GreatSchools Rating

Lake Dallas High School

  • Education Level: High
  • # of students: 1,275
  • # of teachers: 79
6
GreatSchools Rating
 

$284,400$347,600$316,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,098
Property Tax -$639
Property Insurance -$204
Property Management Fees -$99
CASH FLOW
$141

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.

$316,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.8%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$89,490

INVESTMENT

$89,490

Down Payment
$79,000
Rehab Estimate
$5,750
Closing Costs
$4,740

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,098

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,000
Loan Amount $237,000
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$25,159

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,391

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1003$2,1804$2,5005$2,600
$2,600
RENT COMPS ANALYSIS
  • 3101 Brookview Drive Corinth, TX 3
    • 4 beds 3 baths ∙ 3,056 Sqft ∙ Built 1994 4 beds 3 baths ∙ 3,056 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.71
    •  
  • 1993 Hayden Lane Corinth, TX 1
    • 4 beds 4 baths ∙ 2,998 Sqft ∙ Built 2000 4 beds 4 baths ∙ 2,998 Sqft ∙ Built 2000
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.70
    •  
  • 2727 Windstone Way Corinth, TX 2
    • 4 beds 3 baths ∙ 2,899 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,899 Sqft ∙ Built 1997
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.72
    •  
  • 111 Northfield Circle Hickory Creek, TX 4
    • 4 beds 3 baths ∙ 2,797 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,797 Sqft ∙ Built 2003
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.89
    •  
  • 2105 Glen Manor Road Corinth, TX 5
    • 4 beds 3 baths ∙ 3,181 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,181 Sqft ∙ Built 2004
    LEASED 01/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.82
    •  
PROPERTY LISTING DETAILS
Yaron Yashar
Keller Williams Dallas Midtown
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14515839
Last Updated: 02/12/2021
BESbswy