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3202 Verona Corinth, TX 76210

5 Beds 4 Baths 4,417 sqft Built 2021

$620,509

List Price

$3,480

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $140.48
  • 6 Days on Market
  • MLS # : 14498570
  • Updated Date : 01/12/2021 at 13:20
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,417 sqft
  • Baths : 3 full , 1 half
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14498570 - Built by First Texas Homes - March completion! ~ Beautiful open floor plan with a beautiful spiral staircase overlooking a large family room. This home features a gourmet kitchen and butlers pantry with stainless steel appliances, a five burner gas cooktop, double convection ovens and plenty of additional storage in the oversized California island. Extended covered patio to sit back and relax with the peaceful view. This is a must see!!

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

Zip Code: 76210

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 76210

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9322171

* 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
Corinth Elementary School Primary Regular 554 40 5
Lake Dallas Middle School Middle Regular 941 65 7
Lake Dallas High School High Regular 1,275 79 6

Corinth Elementary School

  • Education Level: Primary
  • # of students: 554
  • # of teachers: 40
5
GreatSchools Rating

Lake Dallas Middle School

  • Education Level: Middle
  • # of students: 941
  • # of teachers: 65
7
GreatSchools Rating

Lake Dallas High School

  • Education Level: High
  • # of students: 1,275
  • # of teachers: 79
6
GreatSchools Rating
 

$558,458$682,560$620,509

PURCHASE PRICE

$3,132$3,828$3,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,480
EXPENSES Loan Payment -$2,155
Property Tax -$1,234
Property Insurance -$282
HOA -$50
Property Management Fees -$99
CASH FLOW
-$340

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.

$620,509

PROJECTED PRICE

$3,480

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.8%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$166,435

INVESTMENT

$166,435

Down Payment
$155,127
Rehab Estimate
$2,000
Closing Costs
$9,308

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,155

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $155,127
Loan Amount $465,382
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$6,795

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,480

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $3,489

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$3,480
1$3,4802$3,695
$3,695
RENT COMPS ANALYSIS
  • 3202 Verona Corinth, TX 1
    • 5 beds 4 baths ∙ 4,417 Sqft ∙ Built 2021 5 beds 4 baths ∙ 4,417 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $3,480
    • $0.79
    •  
  • 221 Pimlico Hickory Creek, TX 2
    • 5 beds 5 baths ∙ 4,667 Sqft ∙ Built 2015 5 beds 5 baths ∙ 4,667 Sqft ∙ Built 2015
    LEASED 07/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,695
    • $0.79
    •  
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 #: 14498570
Last Updated: 01/12/2021
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