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3102 Blue Jay Drive Corinth, TX 76210

4 Beds 2 Baths 1,755 sqft Built 1998

INVESTimate

$269,900

List Price

$1,770

$1,593 - $1,947

Rent Est.

$290,817  ( +7.75%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $153.79
  • 4 Days on Market
  • MLS # : 14419343
  • Updated Date : 08/25/2020 at 02:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,755 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

Gorgeous 4 bedroom, 2 bathroom home in the heart of Dallas! Fall in love with this warm and inviting floor plan graced with decorative lighting and spacious living and dining areas. Cook up something delicious in the cheery kitchen offering plenty of counter space, a breakfast bar, and a large walk-in pantry. At the end of the day, escape to your primary retreat where you can enjoy the garden tub, separate shower, and a large walk-in closet. Enjoy the outdoors in the private backyard playing or spending quality time with friends or family. Fantastic location near Oakmont Country Club and the Sharon Lake!

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: Northwood

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k391k

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

Neighborhood: Northwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262571

* 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
Hawk Elementary School Primary Regular 726 46 8
Crownover Middle School Middle Regular 938 59 8
John H. Guyer High School High Regular 2,395 162 8

Hawk Elementary School

  • Education Level: Primary
  • # of students: 726
  • # of teachers: 46
8
GreatSchools Rating

Crownover Middle School

  • Education Level: Middle
  • # of students: 938
  • # of teachers: 59
8
GreatSchools Rating

John H. Guyer High School

  • Education Level: High
  • # of students: 2,395
  • # of teachers: 162
8
GreatSchools Rating
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

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$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$996
Property Tax -$546
Property Insurance -$129
Property Management Fees -$99
CASH FLOW
$1

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$269,900

PROJECTED PRICE

$1,770

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.75%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$15,163

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,816

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,7703$1,8004$1,9005$1,980
$1,980
RENT COMPS ANALYSIS
  • 3102 Blue Jay Drive Corinth, TX 2
    • 4 beds 2 baths ∙ 1,755 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,755 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $1.01
    •  
  • 1715 Mallard Drive Corinth, TX 1
    • 4 beds 2 baths ∙ 1,772 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,772 Sqft ∙ Built 1998
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.97
    •  
  • 1708 Redwood Drive Corinth, TX 3
    • 4 beds 2 baths ∙ 1,735 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,735 Sqft ∙ Built 1998
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.04
    •  
  • 1421 Park Palisades Drive Corinth, TX 4
    • 3 beds 2 baths ∙ 1,762 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,762 Sqft ∙ Built 2001
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.08
    •  
  • 1714 Cedar Elm Drive Corinth, TX 5
    • 3 beds 2 baths ∙ 1,881 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,881 Sqft ∙ Built 1998
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $1.05
    •  
PROPERTY LISTING DETAILS
Wendy Galloway
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419343
Last Updated: 08/25/2020
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