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3310 Poseidon Drive Corinth, TX 76210

3 Beds 2 Baths 1,660 sqft Built 1996

$249,900

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $150.54
  • 3 Days on Market
  • MLS # : 14477923
  • Updated Date : 11/27/2020 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,660 sqft
  • Baths : 2 full
Listing Agent

Colleen Frost Real Estate Serv

Listing Agent's Description

Absolutely gorgeous 1 story home with loads of charm and updates! Sellers took great pride in their home and it shows!!! Beautiful floors, stainless steel appliances, granite countertops, custom light fixtures, HUGE YARD, shed for storage and much much more!! Don't miss out on this opportunity. Home is a short walk away from elementary school and just up the street from the high school. Beautiful trees, great patio out back, PERFECT for entertaining friends and family. Hurry up or you will miss this incredible home! Oh, and did we mention the STUDIO-MEDIA ROOM(Currently 2 car garage is set up as a media room-studio, seller is absolutely willing to convert back to 2 car garage if buyer wants that instead)

SEE MORE

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

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
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$922
Property Tax -$505
Property Insurance -$123
Property Management Fees -$99
CASH FLOW
-$39

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.

$249,900

PROJECTED PRICE

$1,610

PROJECTED RENT

0.64%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$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$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$10,283

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,702

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6103$1,6504$1,7005$1,750
$1,750
RENT COMPS ANALYSIS
  • 3310 Poseidon Drive Corinth, TX 2
    • 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.97
    •  
  • 3203 Athens Drive Corinth, TX 1
    • 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1997
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.04
    •  
  • 3211 Fairview Drive Corinth, TX 3
    • 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 1995
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.08
    •  
  • 3511 Glenview Drive Corinth, TX 4
    • 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 5
    • 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
    •  
PROPERTY LISTING DETAILS
Albert Mokry
Colleen Frost Real Estate Serv
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14477923
Last Updated: 11/27/2020
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