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323 S Watson Street Alvarado, TX 76009

3 Beds 3 Baths 1,439 sqft Built 2020

$212,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $147.32
  • 2 Days on Market
  • MLS # : 14482288
  • Updated Date : 12/11/2020 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,439 sqft
  • Baths : 2 full , 1 half
Listing Agent

Old Texas Realty Group

Listing Agent's Description

Wow! New construction home with easy access to I-35 and No HOA. High end features such as stainless steel appliances, granite counter tops in the kitchen and bathrooms. Energy efficient features include LED lighting, low e vinyl windows, foam insulation, electric water heater and more. Plenty of room in the over sized back yard with privacy fence and some trees. Home is under construction to be completed by January 01 2021. Sod to be installed in front yard and partial sod in the back yard prior to closing.

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: 76009

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 76009

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9051734

* 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
Alvarado High School High Regular 1,033 64 5

Alvarado High School

  • Education Level: High
  • # of students: 1,033
  • # of teachers: 64
5
GreatSchools Rating
 

$190,800$233,200$212,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$782
Property Tax -$486
Property Insurance -$110
Property Management Fees -$99
CASH FLOW
$112

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.

$212,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,180

INVESTMENT

$58,180

Down Payment
$53,000
Rehab Estimate
$2,000
Closing Costs
$3,180

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$782

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,000
Loan Amount $159,000
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$21,861

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,583

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3503$1,3954$1,590
$1,590
RENT COMPS ANALYSIS
  • 323 S Watson Street Alvarado, TX 4
    • 3 beds 3 baths ∙ 1,439 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,439 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $1.10
    •  
  • 194 S Preston Drive Alvarado, TX 1
    • 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 2019
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.11
    •  
  • 303 Apache Trail Alvarado, TX 2
    • 3 beds 2 baths ∙ 1,192 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,192 Sqft ∙ Built 2001
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.13
    •  
  • 204 Seminole Trail Alvarado, TX 3
    • 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 2004
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.06
    •  
PROPERTY LISTING DETAILS
Vickie Weiss
Old Texas Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14482288
Last Updated: 12/11/2020
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