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326 Wandering Stream Way Princeton, TX 75407

3 Beds 2 Baths 1,924 sqft Built 2020

INVESTimate

$252,900

List Price

$1,720

$1,548 - $1,892

Rent Est.

$274,042  ( +8.36%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Built In 2020
  • Price/Sqft : $131.44
  • 9 Days on Market
  • MLS # : 14415575
  • Updated Date : 08/24/2020 at 13:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,924 sqft
  • Baths : 2 full
Listing Agent

Lgi Homes

Listing Agent's Description

The Texoma plan is now available at Princeton Crossroads! This spacious single-story home has 3 bedrooms, 2 full baths and a spacious, open layout. This new home comes with a host of impressive upgrades all included at no additional cost. Upgrades included in this home are energy-efficient kitchen appliances, granite countertops, designer wood cabinetry with crown molding, a Wi-Fi-enabled garage door opener, a programmable thermostat and more! In addition, this home has a beautiful brick exterior, a professionally landscaped front yard and fully fenced back yard.

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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
 

$227,610$278,190$252,900

PURCHASE PRICE

$1,548$1,892$1,720

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$900k

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 $1,720
EXPENSES Loan Payment -$933
Property Tax -$527
Property Insurance -$138
HOA -$27
Property Management Fees -$99
CASH FLOW
-$5

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.

$252,900

PROJECTED PRICE

$1,720

PROJECTED RENT

0.68%

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$69,019

INVESTMENT

$69,019

Down Payment
$63,225
Rehab Estimate
$2,000
Closing Costs
$3,794

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$933

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,225
Loan Amount $189,675
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$13,131

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,736

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,4503$1,5004$1,5755$1,720
$1,720
RENT COMPS ANALYSIS
  • 326 Wandering Stream Way Princeton, TX 5
    • 3 beds 2 baths ∙ 1,924 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,924 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.89
    •  
  • 819 E College Avenue Princeton, TX 1
    • 4 beds 3 baths ∙ 1,608 Sqft ∙ Built 2014 4 beds 3 baths ∙ 1,608 Sqft ∙ Built 2014
    property image
    LEASED 05/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.89
    •  
  • 1209 Lombardy Drive Princeton, TX 2
    • 3 beds 2 baths ∙ 1,619 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,619 Sqft ∙ Built 2017
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.90
    •  
  • 328 Peachtree Lane Princeton, TX 3
    • 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 2003
    property image
    LEASED 06/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.90
    •  
  • 309 Peachtree Lane Princeton, TX 4
    • 3 beds 2 baths ∙ 1,714 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,714 Sqft ∙ Built 2016
    property image
    LEASED 02/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.92
    •  
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 #: 14415575
Last Updated: 08/24/2020
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