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320 Fountain View Lane Josephine, TX 75173

5 Beds 2 Baths 2,033 sqft Built 2012

$230,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $113.13
  • 3 Days on Market
  • MLS # : 14507353
  • Updated Date : 02/05/2021 at 21:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,033 sqft
  • Baths : 2 full
Listing Agent

Mike Mazyck Realty

Listing Agent's Description

Lovely five bedroom home on a corner lot in a wonderful neighborhood. Spacious living area opens to the dining area and kitchen with breakfast bar. Master suite featuring master bath with dual vanity, garden tub, and a separate shower. Great backyard with a covered and open air patio along with a wood privacy fence. Fiber optic internet is available. Be Sure to check out the 3D model and floor plan!

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

Zip Code: 75173

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $107k322k

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

Zip Code: 75173

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7191741

* 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
Phyliss Nesmith Elementary School Primary Regular 469 26 7
Edge Middle School Middle Regular 441 26 4
Community High School High Regular 507 39 6

Phyliss Nesmith Elementary School

  • Education Level: Primary
  • # of students: 469
  • # of teachers: 26
7
GreatSchools Rating

Edge Middle School

  • Education Level: Middle
  • # of students: 441
  • # of teachers: 26
4
GreatSchools Rating

Community High School

  • Education Level: High
  • # of students: 507
  • # of teachers: 39
6
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$799
Property Tax -$460
Property Insurance -$145
HOA -$25
Property Management Fees -$99
CASH FLOW
$333

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$230,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

11.5

YEARS SAVED

$40,110

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,823

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,7503$1,8604$1,899
$1,899
RENT COMPS ANALYSIS
  • 320 Fountain View Lane Josephine, TX 3
    • 5 beds 2 baths ∙ 2,033 Sqft ∙ Built 2012 5 beds 2 baths ∙ 2,033 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.91
    •  
  • 1741 Rolling Meadow Lane Josephine, TX 1
    • 4 beds 2 baths ∙ 2,005 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,005 Sqft ∙ Built 2016
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.84
    •  
  • 500 Milo Way Josephine, TX 2
    • 4 beds 2 baths ∙ 1,891 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,891 Sqft ∙ Built 2019
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.93
    •  
  • 403 Shiplap Lane Royse City, TX 4
    • 4 beds 3 baths ∙ 2,074 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,074 Sqft ∙ Built 2018
    LEASED 01/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,899
    • $0.92
    •  
PROPERTY LISTING DETAILS
Mike Mazyck
Mike Mazyck Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14507353
Last Updated: 02/05/2021
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