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3133 Greenway Drive Burleson, TX 76028

3 Beds 3 Baths 2,428 sqft Built 2021

$334,417

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $137.73
  • 4 Days on Market
  • MLS # : 14499450
  • Updated Date : 01/14/2021 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,428 sqft
  • Baths : 2 full , 1 half
Listing Agent

Park Place Real Estate

Listing Agent's Description

New construction with completion in May. Open floorplan for the best in functionality. Den or study is located off the foyer. Spacious kitchen with island, quartz countertops, glass range hood, pendant lighting, single bowl sink, walk-in pantry, upgraded hardware. Luxury vinyl plank flooring in foyer, kitchen, nook, abundant pantry, powder and main living area. Master suite offers private patio access for enjoying that morning coffee or to unwind in the evening. Ensuite bath with dual vanities, separate tub and shower, upgraded tile work. Full brick exterior with cedar shutters and decorative cedar posts. You'll love all the amenities of sought after Mountain Valley Lake and the quality of your new Home!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Mountain Valley Lake

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $119k258k

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

Neighborhood: Mountain Valley Lake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900Rent in $11261900

* 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
North Joshua Elementary School Primary Regular 581 38 9
North Joshua Elementary School Middle Regular 581 38 9
Joshua Ninth Grade Campus High Regular 391 29 7

North Joshua Elementary School

  • Education Level: Primary
  • # of students: 581
  • # of teachers: 38
9
GreatSchools Rating

North Joshua Elementary School

  • Education Level: Middle
  • # of students: 581
  • # of teachers: 38
9
GreatSchools Rating

Joshua Ninth Grade Campus

  • Education Level: High
  • # of students: 391
  • # of teachers: 29
7
GreatSchools Rating
 

$300,975$367,859$334,417

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,162
Property Tax -$802
Property Insurance -$168
HOA -$35
Property Management Fees -$99
CASH FLOW
-$335

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.

$334,417

PROJECTED PRICE

$1,930

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 4.2%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,621

INVESTMENT

$90,621

Down Payment
$83,604
Rehab Estimate
$2,000
Closing Costs
$5,016

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,604
Loan Amount $250,813
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$362

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,942

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,845
1$1,8452$1,9303$2,000
$2,000
RENT COMPS ANALYSIS
  • 3133 Greenway Drive Burleson, TX 2
    • 3 beds 3 baths ∙ 2,428 Sqft ∙ Built 2021 3 beds 3 baths ∙ 2,428 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.79
    •  
  • 3012 Shoreline Drive Burleson, TX 1
    • 4 beds 3 baths ∙ 2,444 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,444 Sqft ∙ Built 2002
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.75
    •  
  • 2984 Lakeview Circle Burleson, TX 3
    • 3 beds 3 baths ∙ 2,343 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,343 Sqft ∙ Built 2003
    LEASED 08/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.85
    •  
PROPERTY LISTING DETAILS
Kelly Horton
Park Place Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14499450
Last Updated: 01/14/2021
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