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3233 Washington Street Greenville, TX 75401

3 Beds 3 Baths 2,072 sqft Built 2019

INVESTimate

$197,800

List Price

$1,610

$1,449 - $1,771

Rent Est.

$215,384  ( +8.89%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2019
  • Price/Sqft : $95.46
  • 5 Days on Market
  • MLS # : 14417515
  • Updated Date : 08/22/2020 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,072 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Dfw Preferred

Listing Agent's Description

Beautiful and spacious new construction in Historic Downtown Greenville! This 2 story home features 3 bedrooms, 2 and a half bath, 2 car garage and a bonus room. Open floor plan, lots of windows and natural light, recessed lighting, ceramic tile in high traffic and wet areas and carpet in bedrooms. Gorgeous kitchen with custom built white cabinetry and granite counter tops. Serene master suite with walk-in shower, dual sink and spacious walk-in closet. AND WAIT, THERE'S MORE... Upstairs you have an enormous game or media room!

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: 75401

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $67k243k

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

Zip Code: 75401

ZipNIR Market*Market2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Crockett Elementary School Primary Regular 378 28 4
Greenville Middle School Middle Regular 687 46 5
Greenville High School High Regular 1,077 89 5

Crockett Elementary School

  • Education Level: Primary
  • # of students: 378
  • # of teachers: 28
4
GreatSchools Rating

Greenville Middle School

  • Education Level: Middle
  • # of students: 687
  • # of teachers: 46
5
GreatSchools Rating

Greenville High School

  • Education Level: High
  • # of students: 1,077
  • # of teachers: 89
5
GreatSchools Rating
 

$178,020$217,580$197,800

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$730
Property Tax -$445
Property Insurance -$147
Property Management Fees -$99
CASH FLOW
$190

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.

$197,800

PROJECTED PRICE

$1,610

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.89%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$54,417

INVESTMENT

$54,417

Down Payment
$49,450
Rehab Estimate
$2,000
Closing Costs
$2,967

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$730

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,450
Loan Amount $148,350
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$31,485

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,782

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,610
$1,610
RENT COMPS ANALYSIS
  • 3233 Washington Street Greenville, TX 2
    • 3 beds 3 baths ∙ 2,072 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,072 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.78
    •  
  • 3607 Pickett Street Greenville, TX 1
    • 4 beds 2 baths ∙ 1,799 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,799 Sqft ∙ Built 2019
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.86
    •  
PROPERTY LISTING DETAILS
Aglae Gonzalez
Keller Williams Dfw Preferred
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417515
Last Updated: 08/22/2020
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