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324 N Greenway Drive Quinlan, TX 75474

3 Beds 2 Baths 1,583 sqft Built 1983

$179,900

List Price

$1,230

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $113.64
  • 5 Days on Market
  • MLS # : 14539360
  • Updated Date : 03/24/2021 at 15:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,583 sqft
  • Baths : 2 full
Listing Agent

Century 21 Upchurch Real Estat

Listing Agent's Description

3br-2ba-2gar brick home in the perfect location of the fast growing area of Quinlan City Limits. Located near the schools and stores makes it ideal for conveniences! Charming drive up appeal, walk inside a foyer that opens to a spacious living area with a sliding back door that overlooks a huge fenced back yard with a storage bldg, kitchen faces the street with lots of cabinets and counter space, full size dining room, lg master with an en suite. House has lots of potential and is an estate sale selling as-is where is! Will do no repairs

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Zip Code: 75474

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $67k243k

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

Zip Code: 75474

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
Butler Intermediate School Primary Regular 509 30 4
Thompson Middle School Middle Regular 565 38 4
Ford High School High Regular 785 47 3

Butler Intermediate School

  • Education Level: Primary
  • # of students: 509
  • # of teachers: 30
4
GreatSchools Rating

Thompson Middle School

  • Education Level: Middle
  • # of students: 565
  • # of teachers: 38
4
GreatSchools Rating

Ford High School

  • Education Level: High
  • # of students: 785
  • # of teachers: 47
3
GreatSchools Rating
 

$161,910$197,890$179,900

PURCHASE PRICE

$1,107$1,353$1,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,230
EXPENSES Loan Payment -$625
Property Tax -$298
Property Insurance -$119
Property Management Fees -$99
CASH FLOW
$90

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$179,900

PROJECTED PRICE

$1,230

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,424

INVESTMENT

$53,424

Down Payment
$44,975
Rehab Estimate
$5,750
Closing Costs
$2,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$625

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $44,975
Loan Amount $134,925
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$15,387

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,230

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,076

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,230
1$1,2302$1,300
$1,300
RENT COMPS ANALYSIS
  • 324 N Greenway Drive Quinlan, TX 1
    • 3 beds 2 baths ∙ 1,583 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,583 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $0.78
    •  
  • 1113 E Quinlan Parkway Quinlan, TX 2
    • 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 1989
    property image
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.68
    •  
PROPERTY LISTING DETAILS
Amy Ivey
Century 21 Upchurch Real Estat
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14539360
Last Updated: 03/24/2021
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