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312 Ambrose Drive Murphy, TX 75094

3 Beds 2 Baths 1,874 sqft Built 1999

$299,620

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $159.88
  • 5 Days on Market
  • MLS # : 14456163
  • Updated Date : 11/04/2020 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,874 sqft
  • Baths : 2 full
Listing Agent

Re/max Dfw Associates

Listing Agent's Description

One story well maintained home on a huge lot! Open floorplan. Private dining room. Oversized family room features wall of windows, brick fireplace and breakfast bar. Gourmet kitchen has a small island, loads of counterspace, gas cooktop, oven and microwave. Breakfast room features a large window overlooking the long private driveway. Do not forget to open the door found the utility room to an enormous walk-in pantry. Primary suite has a large private bathroom with separate shower and garden tub. Primary closet has loads of storage. Two secondary closets with large closets too. Two Oversized two car garage with attic storage. The back yard is huge! Nice back patio. Room for a pool.

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: Glen Ridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k394k

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

Neighborhood: Glen Ridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262392

* 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
Boggess Elementary School Primary Regular 772 52 9
Murphy Middle School Middle Regular 1,217 65 10
Mcmillen High School High Regular 1,088 70 8

Boggess Elementary School

  • Education Level: Primary
  • # of students: 772
  • # of teachers: 52
9
GreatSchools Rating

Murphy Middle School

  • Education Level: Middle
  • # of students: 1,217
  • # of teachers: 65
10
GreatSchools Rating

Mcmillen High School

  • Education Level: High
  • # of students: 1,088
  • # of teachers: 70
8
GreatSchools Rating
 

$269,658$329,582$299,620

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,105
Property Tax -$521
Property Insurance -$136
HOA -$19
Property Management Fees -$99
CASH FLOW
-$90

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.

$299,620

PROJECTED PRICE

$1,790

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,149

INVESTMENT

$85,149

Down Payment
$74,905
Rehab Estimate
$5,750
Closing Costs
$4,494

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,105

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,905
Loan Amount $224,715
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$10,486

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,799

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7753$1,7904$1,9005$1,950
$1,950
RENT COMPS ANALYSIS
  • 312 Ambrose Drive Murphy, TX 3
    • 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.96
    •  
  • 409 Danmire Drive Murphy, TX 1
    • 3 beds 2 baths ∙ 1,790 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,790 Sqft ∙ Built 2001
    property image
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.98
    •  
  • 429 Oakhurst Drive Murphy, TX 2
    • 3 beds 2 baths ∙ 1,790 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,790 Sqft ∙ Built 2001
    property image
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.99
    •  
  • 135 Edgemere Court Murphy, TX 4
    • 3 beds 2 baths ∙ 2,046 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,046 Sqft ∙ Built 1999
    property image
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.93
    •  
  • 201 Elmcrest Drive Murphy, TX 5
    • 4 beds 2 baths ∙ 2,074 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,074 Sqft ∙ Built 1997
    property image
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.94
    •  
PROPERTY LISTING DETAILS
Jeanne Kuhn Slay
Re/max Dfw Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14456163
Last Updated: 11/04/2020
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