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321 Hawkswood Drive Fairview, TX 75069

4 Beds 5 Baths 3,468 sqft Built 2005

$546,300

List Price

$3,170

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $157.53
  • 5 Days on Market
  • MLS # : 14462756
  • Updated Date : 10/30/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,468 sqft
  • Baths : 4 full , 1 half
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

Here is your chance to own a spacious traditional on acreage in Fairview! Thoughtful layout with the primary bedroom, a secondary bedroom, and the study all on the first level. Handsome living area with stone fireplace, opening to the spacious kitchen boasting granite counters, stainless appliances and an island with vegetable sink. All bedrooms have private baths. Upstairs you'll find two additional bedrooms and a media room with a balcony to view the vast open space and Texas sunsets. Great storage, split three car garage, porte cochere. Seller will consider offers after home has been listed for 10 days. Chase Employees: Please see the Chase Acknowledgement for restrictions.

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: 75069

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k472k

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

Zip Code: 75069

ZipNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10122551

* 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
Mcgowen Elementary School Primary Regular 674 44 7
Faubion Middle School Middle Regular 976 64 7
Mckinney High School High Regular 2,486 148 7

Mcgowen Elementary School

  • Education Level: Primary
  • # of students: 674
  • # of teachers: 44
7
GreatSchools Rating

Faubion Middle School

  • Education Level: Middle
  • # of students: 976
  • # of teachers: 64
7
GreatSchools Rating

Mckinney High School

  • Education Level: High
  • # of students: 2,486
  • # of teachers: 148
7
GreatSchools Rating
 

$491,670$600,930$546,300

PURCHASE PRICE

$2,853$3,487$3,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,170
EXPENSES Loan Payment -$2,016
Property Tax -$1,053
Property Insurance -$228
HOA -$42
Property Management Fees -$99
CASH FLOW
-$266

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.

$546,300

PROJECTED PRICE

$3,170

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.1%
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$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$150,520

INVESTMENT

$150,520

Down Payment
$136,575
Rehab Estimate
$5,750
Closing Costs
$8,195

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,016

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $136,575
Loan Amount $409,725
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$11,126

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,170

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,653

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4503$2,5004$3,1705$3,400
$3,400
RENT COMPS ANALYSIS
  • 321 Hawkswood Drive Fairview, TX 4
    • 4 beds 5 baths ∙ 3,468 Sqft ∙ Built 2005 4 beds 5 baths ∙ 3,468 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,170
    • $0.91
    •  
  • 1633 Wood Creek Lane Allen, TX 1
    • 4 beds 4 baths ∙ 3,514 Sqft ∙ Built 2002 4 beds 4 baths ∙ 3,514 Sqft ∙ Built 2002
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.65
    •  
  • 380 Parkvillage Avenue Fairview, TX 2
    • 4 beds 4 baths ∙ 3,469 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,469 Sqft ∙ Built 2004
    property image
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.71
    •  
  • 1704 Harvest Glen Drive Allen, TX 3
    • 4 beds 4 baths ∙ 3,319 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,319 Sqft ∙ Built 2000
    property image
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.75
    •  
  • 1611 Sweetbay Drive Allen, TX 5
    • 4 beds 4 baths ∙ 3,582 Sqft ∙ Built 2003 4 beds 4 baths ∙ 3,582 Sqft ∙ Built 2003
    property image
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $0.95
    •  
PROPERTY LISTING DETAILS
Cody Farris
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462756
Last Updated: 10/30/2020
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