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3303 Syracuse Drive Corinth, TX 76210

4 Beds 2 Baths 1,828 sqft Built 1997

$315,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $172.32
  • 3 Days on Market
  • MLS # : 14508905
  • Updated Date : 01/30/2021 at 22:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,828 sqft
  • Baths : 2 full
Listing Agent

Re/max Trinity

Listing Agent's Description

This captivating remodeled four bedroom house has been tastefully redesigned by the current owners who proudly presents over 1,800 Sq Ft of your ideal home. Spacious and stunning primary bathroom with dual rain shower and a beautiful pebble flooring mud pan. Granite kitchen's counter tops and SS appliances are part of this beautiful open concept. Marvelous oasis backyard just ready for summer is equipped with a salt heated pool and spa, attached grill and a pergola, along with a cornered fire pit. The amazing location only 5 mins away from I35, 10 mins from Lewisville lake and 25 mins from DFW Int'l Airport is the perfect combination of location, coziness and comfort you can call home.

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

Neighborhood: Corinthian Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $88k288k

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

Neighborhood: Corinthian Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8341968

* 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
Corinth Elementary School Primary Regular 554 40 5
Lake Dallas Middle School Middle Regular 941 65 7
Lake Dallas High School High Regular 1,275 79 6

Corinth Elementary School

  • Education Level: Primary
  • # of students: 554
  • # of teachers: 40
5
GreatSchools Rating

Lake Dallas Middle School

  • Education Level: Middle
  • # of students: 941
  • # of teachers: 65
7
GreatSchools Rating

Lake Dallas High School

  • Education Level: High
  • # of students: 1,275
  • # of teachers: 79
6
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,094
Property Tax -$637
Property Insurance -$133
Property Management Fees -$99
CASH FLOW
-$203

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.

$315,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.8%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$2,598

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,787

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7003$1,7504$1,7505$1,760
$1,760
RENT COMPS ANALYSIS
  • 3303 Syracuse Drive Corinth, TX 5
    • 4 beds 2 baths ∙ 1,828 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,828 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.96
    •  
  • 3110 Brett Road Corinth, TX 1
    • 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 2001
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.92
    •  
  • 3511 Glenview Drive Corinth, TX 2
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 1985
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.03
    •  
  • 2718 Meadowview Drive Corinth, TX 3
    • 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 2000
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.95
    •  
  • 2515 Mountainview Drive Corinth, TX 4
    • 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 1994
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.01
    •  
PROPERTY LISTING DETAILS
Omar Escalante Castro
Re/max Trinity
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14508905
Last Updated: 01/30/2021
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