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317 S Alamo Street Weatherford, TX 76086

3 Beds 2 Baths 1,988 sqft Built 2019

$400,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2019
  • Price/Sqft : $201.21
  • 2 Days on Market
  • MLS # : 14464349
  • Updated Date : 11/07/2020 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,988 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Wanting the character but worried about an older house. Well, welcome home to a 2019 Craftsman style home built as a Nudura storm safe home located in Historic district of Weatherford! This highly energy efficient home features solid concrete exterior walls, 10 foot ceilings, a safe room, shiplap walls, and Milgard windows with a lifetime warranty. Attention to detail was not missed in any area of this home. The kitchen features granite countertops, shaker cabinets with lighting both above and below, a pot filler, double oven, 6 burner gas stove and a built in wine rack. Did I mention this home has it all? 700 sq ft of covered porch, insulated garage or workshop with electric and attic space for expansion.

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: 76086

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $84k258k

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

Zip Code: 76086

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7611734

* 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
Raymond E. Curtis Elementary School Primary Regular 716 47 6
Raymond E. Curtis Elementary School Middle Regular 716 47 6
Weatherford High School High Regular 2,238 148 6

Raymond E. Curtis Elementary School

  • Education Level: Primary
  • # of students: 716
  • # of teachers: 47
6
GreatSchools Rating

Raymond E. Curtis Elementary School

  • Education Level: Middle
  • # of students: 716
  • # of teachers: 47
6
GreatSchools Rating

Weatherford High School

  • Education Level: High
  • # of students: 2,238
  • # of teachers: 148
6
GreatSchools Rating
 

$360,000$440,000$400,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,476
Property Tax -$851
Property Insurance -$142
Property Management Fees -$99
CASH FLOW
-$648

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$400,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$108,000

INVESTMENT

$108,000

Down Payment
$100,000
Rehab Estimate
$2,000
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$6

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,938

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,8753$1,8754$1,9205$2,300
$2,300
RENT COMPS ANALYSIS
  • 317 S Alamo Street Weatherford, TX 4
    • 3 beds 2 baths ∙ 1,988 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,988 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.97
    •  
  • 321 Jade Lane Weatherford, TX 1
    • 3 beds 2 baths ∙ 1,826 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,826 Sqft ∙ Built 2009
    LEASED 08/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.88
    •  
  • 801 Soapberry Drive Weatherford, TX 2
    • 4 beds 2 baths ∙ 1,839 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,839 Sqft ∙ Built 2008
    LEASED 07/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.02
    •  
  • 611 N Rusk Street Weatherford, TX 3
    • 3 beds 2 baths ∙ 1,952 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,952 Sqft ∙ Built 2019
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.96
    •  
  • 1809 Town Creek Circle Weatherford, TX 5
    • 4 beds 2 baths ∙ 2,205 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,205 Sqft ∙ Built 2017
    LEASED 06/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.04
    •  
PROPERTY LISTING DETAILS
Matthew Brown
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464349
Last Updated: 11/07/2020
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