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3308 Bonnie Lea Street Greenville, TX 75402

3 Beds 2 Baths 1,763 sqft Built 1983

$199,900

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1983
  • Price/Sqft : $113.39
  • 3 Days on Market
  • MLS # : 14451186
  • Updated Date : 11/01/2020 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,763 sqft
  • Baths : 2 full
Listing Agent

Re/max-3d Real Estate

Listing Agent's Description

Location, location, location! Completely remodeled from floor to ceiling! Move-in ready home in a great location. Wood burning fireplace with built-ins. Granite counters, stainless appliances, new ceramic floors in bathrooms and woodgrain laminate throughout the rest. Foundation work has been completed, including a transferrable warranty. Don't missed the fenced backyard with a shed.

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: 75402

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $68k243k

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

Zip Code: 75402

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
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$738
Property Tax -$449
Property Insurance -$129
Property Management Fees -$99
CASH FLOW
-$25

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.

$199,900

PROJECTED PRICE

$1,390

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.0%
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$700k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$8,054

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,380

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2003$1,3904$1,4005$1,450
$1,450
RENT COMPS ANALYSIS
  • 3308 Bonnie Lea Street Greenville, TX 3
    • 3 beds 2 baths ∙ 1,763 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,763 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.79
    •  
  • 5506 Greenbriar Greenville, TX 1
    • 3 beds 2 baths ∙ 1,587 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,587 Sqft ∙ Built 1985
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.76
    •  
  • 5400 Sayle Street Greenville, TX 2
    • 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1973
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.80
    •  
  • 5609 Kayway Drive Greenville, TX 4
    • 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 1963
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.78
    •  
  • 3202 Nashville Avenue Greenville, TX 5
    • 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 1975
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.79
    •  
PROPERTY LISTING DETAILS
Kevin Sawatsky
Re/max-3d Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14451186
Last Updated: 11/01/2020
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