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3106 Clover Lane Waxahachie, TX 75165

3 Beds 2 Baths 1,672 sqft Built 1983

$280,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $167.46
  • 5 Days on Market
  • MLS # : 14490419
  • Updated Date : 12/26/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,672 sqft
  • Baths : 2 full
Listing Agent

Jp & Associates Uptown

Listing Agent's Description

GREAT SHOP WITH THIS 3 BEDROOM 2 BATH HOME ON ALMOST HALF AN ACRE LOT. SHOP HAS ELECTRIC AND WATER. LIVING ROOM HAS A GREAT PICUTRE WINDOW IN FRONT ALLOWING TONS OF NATURAL LIGHT. KITCHEN WITH A BREAKFAST BAR LEADS OUT TO A COMFY BACK COVERED PATIO. GREAT LOCATION OUTSIDE OF CITY LIMITS.

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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: Quail Creek Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $100k243k

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

Neighborhood: Quail Creek Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9961734

* 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
Shackelford Elementary School Primary Regular 594 36 7
Howard Junior High School Middle Regular 857 62 6
Waxahachie High School High Regular 1,985 138 4

Shackelford Elementary School

  • Education Level: Primary
  • # of students: 594
  • # of teachers: 36
7
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
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,033
Property Tax -$468
Property Insurance -$124
Property Management Fees -$99
CASH FLOW
-$74

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.

$280,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.59%

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$200k$400k$600k$800k$1.0M

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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$11,030

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,655

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,549
1$1,5492$1,5503$1,6504$1,7005$1,800
$1,800
RENT COMPS ANALYSIS
  • 3106 Clover Lane Waxahachie, TX 3
    • 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.99
    •  
  • 105 S Hampton Place Waxahachie, TX 1
    • 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 2003
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $1.01
    •  
  • 3005 Huntington Court Waxahachie, TX 2
    • 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 1999
    LEASED 07/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.01
    •  
  • 1203 Azalea Lane Waxahachie, TX 4
    • 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1995
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.96
    •  
  • 318 Janis Lane Waxahachie, TX 5
    • 3 beds 2 baths ∙ 1,834 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,834 Sqft ∙ Built 1993
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.98
    •  
PROPERTY LISTING DETAILS
Teresa Rouse-taylor
Jp & Associates Uptown
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14490419
Last Updated: 12/26/2020
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