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320 Scenic Point Drive Princeton, TX 75409

5 Beds 3 Baths 2,682 sqft Built 2021

$359,900

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $134.19
  • 7 Days on Market
  • MLS # : 14515336
  • Updated Date : 02/08/2021 at 21:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,682 sqft
  • Baths : 3 full
Listing Agent

Homesusa.com

Listing Agent's Description

The 5-bedroom Masters floor plan delivers seamless flow in the main living area, with the added benefits of a walk-in pantry and oversized laundry. The first-floor primary suite is conveniently yet privately located, with 3 bedrooms upstairs and another on the main floor, which can easily be a flex room or used as a home office.

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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: 75409

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $107k336k

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

Zip Code: 75409

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8672171

* 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
Lacy Elementary School Primary Regular 695 47 6
Clark Junior High School Middle Regular 540 33 8
Princeton High School High Regular 1,048 67 6

Lacy Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 47
6
GreatSchools Rating

Clark Junior High School

  • Education Level: Middle
  • # of students: 540
  • # of teachers: 33
8
GreatSchools Rating

Princeton High School

  • Education Level: High
  • # of students: 1,048
  • # of teachers: 67
6
GreatSchools Rating
 

$323,910$395,890$359,900

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,250
Property Tax -$725
Property Insurance -$182
HOA -$33
Property Management Fees -$99
CASH FLOW
-$339

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.

$359,900

PROJECTED PRICE

$1,950

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.7%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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$97,374

INVESTMENT

$97,374

Down Payment
$89,975
Rehab Estimate
$2,000
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$721

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,904

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7003$1,7504$1,9505$2,200
$2,200
RENT COMPS ANALYSIS
  • 320 Scenic Point Drive Princeton, TX 4
    • 5 beds 3 baths ∙ 2,682 Sqft ∙ Built 2021 5 beds 3 baths ∙ 2,682 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.73
    •  
  • 4000 Hidden Meadow Court Princeton, TX 1
    • 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 2004
    property image
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.70
    •  
  • 1211 Pine Forest Drive Princeton, TX 2
    • 5 beds 3 baths ∙ 2,655 Sqft ∙ Built 2008 5 beds 3 baths ∙ 2,655 Sqft ∙ Built 2008
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.64
    •  
  • 1234 Angelina Drive Princeton, TX 3
    • 4 beds 2 baths ∙ 2,564 Sqft ∙ Built 2012 4 beds 2 baths ∙ 2,564 Sqft ∙ Built 2012
    property image
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.68
    •  
  • 1208 Angelina Drive Princeton, TX 5
    • 5 beds 3 baths ∙ 2,677 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,677 Sqft ∙ Built 2007
    property image
    LEASED 01/24/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.82
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14515336
Last Updated: 02/08/2021
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