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313 Odell Street Cleburne, TX 76033

3 Beds 2 Baths 1,630 sqft Built 2002

INVESTimate

$217,000

List Price

$1,430

$1,287 - $1,573

Rent Est.

$233,167  ( +7.45%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $133.13
  • 8 Days on Market
  • MLS # : 14414705
  • Updated Date : 08/23/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,630 sqft
  • Baths : 2 full
Listing Agent

Dfw Realtors Of Texas

Listing Agent's Description

This is a must see!! New granite counters, ceramic flooring, new AC, new roof. Large gorgeous living room with a wood burning fireplace, with an insert for your large television. Home has new paint throughout. His and hers closets in the master on-suite, with separate bath and shower. Walk-in closets in other 2 bedrooms, and other storage and closets throughout the home. Over-sized laundry room. Garage has a side door entrance with a concrete pad. Covered back porch with a deck extension. Storage shed in the back yard has a covered grass porch. So much more...This home won't last long, schedule your showing today.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Preston Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Preston Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9011734

* 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
Irving Elementary School Primary Regular 502 33 3
Wheat Middle School Middle Regular 701 52 4
Cleburne High School High Regular 1,653 110 4

Irving Elementary School

  • Education Level: Primary
  • # of students: 502
  • # of teachers: 33
3
GreatSchools Rating

Wheat Middle School

  • Education Level: Middle
  • # of students: 701
  • # of teachers: 52
4
GreatSchools Rating

Cleburne High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 110
4
GreatSchools Rating
 

$195,300$238,700$217,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$801
Property Tax -$566
Property Insurance -$121
Property Management Fees -$99
CASH FLOW
-$157

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.

$217,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.45%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$63,255

INVESTMENT

$63,255

Down Payment
$54,250
Rehab Estimate
$5,750
Closing Costs
$3,255

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$801

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,250
Loan Amount $162,750
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$1,548

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,491

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,4303$1,595
$1,595
RENT COMPS ANALYSIS
  • 313 Odell Street Cleburne, TX 2
    • 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.88
    •  
  • 1202 Spell Avenue Cleburne, TX 1
    • 3 beds 2 baths ∙ 1,482 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,482 Sqft ∙ Built 1998
    property image
    LEASED 10/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.88
    •  
  • 1211 Davis Street Cleburne, TX 3
    • 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 2020
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.95
    •  
PROPERTY LISTING DETAILS
Joy Martin
Dfw Realtors Of Texas
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14414705
Last Updated: 08/23/2020
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