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3306 Austin Street Greenville, TX 75402

3 Beds 2 Baths 1,215 sqft Built 1982

$162,000

List Price

$1,040

$936 - $1.1K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $133.33
  • 2 Days on Market
  • MLS # : 14488806
  • Updated Date : 12/19/2020 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,215 sqft
  • Baths : 2 full
Listing Agent

Vibrant Real Estate

Listing Agent's Description

Move in Ready! Super cute home, 3 Bedroom, 2 full baths, New HAVC, New Windows, Huge backyard with a new brick covered patio, Hand scraped wood flooring except in laundry room and Bathrooms , Beautiful updated Kitchen with granite counters with open floor plan and Fresh paint inside and out. Must see Great location to Stores and Restaurants. This home won't last long.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Mineral Heights

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $68k243k

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

Neighborhood: Mineral Heights

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
Bowie Elementary School Primary Regular 480 31 4
Greenville Middle School Middle Regular 687 46 5
Greenville High School High Regular 1,077 89 5

Bowie Elementary School

  • Education Level: Primary
  • # of students: 480
  • # of teachers: 31
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
 

$145,800$178,200$162,000

PURCHASE PRICE

$936$1,144$1,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,040
EXPENSES Loan Payment -$598
Property Tax -$364
Property Insurance -$97
Property Management Fees -$99
CASH FLOW
-$118

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.

$162,000

PROJECTED PRICE

$1,040

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 0.8%
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$50k$100k$150k$200k$250k$300k$350k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$3.0k-$2.0k-$1.0k$0.0$1.0k$2.0k$3.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$48,680

INVESTMENT

$48,680

Down Payment
$40,500
Rehab Estimate
$5,750
Closing Costs
$2,430

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$598

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $40,500
Loan Amount $121,500
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$1,478

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,040

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,124

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,0403$1,1504$1,2505$1,375
$1,375
RENT COMPS ANALYSIS
  • 3306 Austin Street Greenville, TX 2
    • 3 beds 2 baths ∙ 1,215 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,215 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,040
    • $0.86
    •  
  • 5407 King Street Greenville, TX 1
    • 3 beds 1 baths ∙ 1,175 Sqft ∙ Built 1975 3 beds 1 baths ∙ 1,175 Sqft ∙ Built 1975
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.85
    •  
  • 6207 Trinity Street Greenville, TX 3
    • 3 beds 2 baths ∙ 1,182 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,182 Sqft ∙ Built 1980
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.97
    •  
  • 5102 Meadowbrook Drive Greenville, TX 4
    • 3 beds 2 baths ∙ 1,394 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,394 Sqft ∙ Built 1968
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.90
    •  
  • 3604 Tipps Drive Greenville, TX 5
    • 3 beds 4 baths ∙ 1,408 Sqft ∙ Built 1985 3 beds 4 baths ∙ 1,408 Sqft ∙ Built 1985
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.98
    •  
PROPERTY LISTING DETAILS
Karla Valadez
Vibrant Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14488806
Last Updated: 12/19/2020
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