Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

316 Allen Avenue Bonham, TX 75418

3 Beds 2 Baths 1,119 sqft Built 2020

$195,000

List Price

$1,120

$1K - $1.2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $174.26
  • 7 Days on Market
  • MLS # : 14468330
  • Updated Date : 11/10/2020 at 12:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,119 sqft
  • Baths : 2 full
Listing Agent

Bonham Land & Ranches, Llc

Listing Agent's Description

BRAZOS CUSTOM BUILT HOMES IS OFFERING THIS NEW CONSTRUCTION HOME TO BE FINISHED IN EARLY 2021. Beautifully stained concrete floors are throughout home high traffic areas and carpet in bedrooms. Custom wood cabinets featured in bathrooms,kitchen. Granite counters in kitchen and marble in bathrooms. Stainless steel range, dishwasher and vent hood. Walk in pantry with custom shelving, brushed nickel hardware and faucets, led lighting, ceiling fans. Master bedroom has attached bath with walk in marble shower and walk in closet with custom shelving. Outside is smart siding with stone accents and a 30 year composition roof. If home is under contract in time, buyers can customize colors.

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: 75418

ZipNIR Market*CityMarket2015Year2007 Q3201960k70k80k90k100k110k120k130k140kPrice in $58k141k

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

Zip Code: 75418

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
Finley-oates Elementary School Primary Regular 546 39 4
L.h. Rather Junior High School Middle Regular 273 17 4
Bonham High School High Regular 513 44 4

Finley-oates Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 39
4
GreatSchools Rating

L.h. Rather Junior High School

  • Education Level: Middle
  • # of students: 273
  • # of teachers: 17
4
GreatSchools Rating

Bonham High School

  • Education Level: High
  • # of students: 513
  • # of teachers: 44
4
GreatSchools Rating
 

$175,500$214,500$195,000

PURCHASE PRICE

$1,008$1,232$1,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,120
EXPENSES Loan Payment -$719
Property Tax -$432
Property Insurance -$89
Property Management Fees -$99
CASH FLOW
-$220

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.

$195,000

PROJECTED PRICE

$1,120

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 3.00%
Vacancy 6.00%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k-$4.0k-$3.0k-$2.0k-$1.0k$0.0$1.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,675

INVESTMENT

$53,675

Down Payment
$48,750
Rehab Estimate
$2,000
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$719

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$49

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,120

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,108

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,120
$1,120
RENT COMPS ANALYSIS
  • 316 Allen Avenue Bonham, TX 2
    • 3 beds 2 baths ∙ 1,119 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,119 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,120
    • $1.00
    •  
  • 804 E 5th Street Bonham, TX 1
    • 3 beds 2 baths ∙ 1,058 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,058 Sqft ∙ Built 2018
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.99
    •  
PROPERTY LISTING DETAILS
Teresa Mills
Bonham Land & Ranches, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14468330
Last Updated: 11/10/2020
BESbswy