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3108 Sweetwater Way Sherman, TX 75090

3 Beds 2 Baths 1,507 sqft Built 2020

INVESTimate

$199,900

List Price

$1,640

$1,476 - $1,804

Rent Est.

$217,931  ( +9.02%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $132.65
  • 2 Days on Market
  • MLS # : 14414800
  • Updated Date : 08/25/2020 at 10:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,507 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

New construction 3-2-2. Engineered post tension slab. The interior features an open floor plan. The Kitchen features Granite Countertops and Tile Back Splashes, SS Appliances to include an Electric Range-Oven, a Microwave with a recirculating vent, a Dishwasher and a Garbage Disposal.The home has Window Blinds, a separate Utility Room and a separate Shower in the MST Bath. Energy Features include...Ceiling Fans, Double Pane Windows, and a Radiant Barrier. All Living areas have 6 inch exterior walls and R-19 Insulation. The exterior features a Wood Privacy Fence, a covered Porch and Patio. Full sod in the front and back yards with a sprinkler system.

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: 75090

ZipNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150k160kPrice in $52k166k

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

Zip Code: 75090

No Data Available.

* 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
Dillingham Intermediate School Primary Regular 1,036 76 4
Dillingham Intermediate School Middle Regular 1,036 76 4
Sherman High School High Regular 1,780 119 5

Dillingham Intermediate School

  • Education Level: Primary
  • # of students: 1,036
  • # of teachers: 76
4
GreatSchools Rating

Dillingham Intermediate School

  • Education Level: Middle
  • # of students: 1,036
  • # of teachers: 76
4
GreatSchools Rating

Sherman High School

  • Education Level: High
  • # of students: 1,780
  • # of teachers: 119
5
GreatSchools Rating
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$738
Property Tax -$449
Property Insurance -$109
Property Management Fees -$99
CASH FLOW
$245

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$199,900

PROJECTED PRICE

$1,640

PROJECTED RENT

0.82%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 9.02%
Maintenance Year (1-5) 3.00%
Vacancy 6.00%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$54,974

INVESTMENT

$54,974

Down Payment
$49,975
Rehab Estimate
$2,000
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$33,407

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,628

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,640
$1,640
RENT COMPS ANALYSIS
  • 3108 Sweetwater Way Sherman, TX 2
    • 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $1.09
    •  
  • 4706 Pinnacle Place Denison, TX 1
    • 3 beds 2 baths ∙ 1,473 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,473 Sqft ∙ Built 2016
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.08
    •  
PROPERTY LISTING DETAILS
Ron Hart
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14414800
Last Updated: 08/25/2020
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