Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

322 Wandering Stream Way Princeton, TX 75407

4 Beds 3 Baths 2,297 sqft Built 2020

INVESTimate

$265,900

List Price

$1,850

$1,665 - $2,035

Rent Est.

$288,129  ( +8.36%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $115.76
  • 8 Days on Market
  • MLS # : 14416528
  • Updated Date : 08/24/2020 at 13:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,297 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lgi Homes

Listing Agent's Description

The Ozark plan is a stunning, two-story home in the community of Princeton Crossroads. This gorgeous home has a spacious layout with 4 bedrooms, 2.5 baths, a huge living room and more. The Ozark features a formal dining room as well as a breakfast area connected to the kitchen. In addition, this home comes with a host of included upgrades such as stainless steel kitchen appliances, granite countertops, gorgeous wood cabinets and an attached two-car garage complete with Wi-Fi-enabled opener installed. Schedule a tour of the Ozark plan today.

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: 75407

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $114k243k

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

Zip Code: 75407

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8671734

* 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
Godwin Elementary School Primary Regular 683 40 8
Clark Junior High School Middle Regular 540 33 8
Princeton High School High Regular 1,048 67 6

Godwin Elementary School

  • Education Level: Primary
  • # of students: 683
  • # of teachers: 40
8
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
 

$239,310$292,490$265,900

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$981
Property Tax -$554
Property Insurance -$160
HOA -$27
Property Management Fees -$99
CASH FLOW
$29

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$265,900

PROJECTED PRICE

$1,850

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.36%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,464

INVESTMENT

$72,464

Down Payment
$66,475
Rehab Estimate
$2,000
Closing Costs
$3,989

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$981

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,475
Loan Amount $199,425
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$16,434

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,872

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,745
1$1,7452$1,8503$1,950
$1,950
RENT COMPS ANALYSIS
  • 322 Wandering Stream Way Princeton, TX 2
    • 4 beds 3 baths ∙ 2,297 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,297 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.81
    •  
  • 2305 Denali Court Princeton, TX 1
    • 4 beds 3 baths ∙ 2,170 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,170 Sqft ∙ Built 2019
    property image
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.80
    •  
  • 787 Myrtle Lane Princeton, TX 3
    • 5 beds 3 baths ∙ 2,339 Sqft ∙ Built 2020 5 beds 3 baths ∙ 2,339 Sqft ∙ Built 2020
    property image
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.83
    •  
PROPERTY LISTING DETAILS
Mona Hill
Lgi Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416528
Last Updated: 08/24/2020
BESbswy