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3317 Riverside Drive Aubrey, TX 76227

3 Beds 2 Baths 1,442 sqft Built 2021

$240,499

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $166.78
  • 4 Days on Market
  • MLS # : 14470402
  • Updated Date : 11/12/2020 at 14:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,442 sqft
  • Baths : 2 full
Listing Agent

Wendell Miller Realty

Listing Agent's Description

The Brio plan is a stunning 1-story home with oversized Family Room which is great for entertaining and gatherings. This home features 3 bedrooms, 2 bathrooms with luxury vinyl flooring, 36 inch quartz countertops. decorative tile backsplash, and stainless steel appliances. The covered patio is excellent for entertaining. Owners Suite has a large walk-in shower and walk-in closet. Aspen Meadows is a one of a kind community with 40 acres of natural preserve for residents to enjoy with camping grounds, 7.5 acre recreational field, community pavilion, pool and park. This home is complete FEBRUARY 2021.

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: 76227

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $117k336k

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

Zip Code: 76227

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Monaco Elementary School Primary Regular 642 36 6
Aubrey Middle School Middle Regular 484 29 7
Aubrey High School High Regular 585 36 6

Monaco Elementary School

  • Education Level: Primary
  • # of students: 642
  • # of teachers: 36
6
GreatSchools Rating

Aubrey Middle School

  • Education Level: Middle
  • # of students: 484
  • # of teachers: 29
7
GreatSchools Rating

Aubrey High School

  • Education Level: High
  • # of students: 585
  • # of teachers: 36
6
GreatSchools Rating
 

$216,449$264,549$240,499

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$887
Property Tax -$514
Property Insurance -$111
HOA -$61
Property Management Fees -$99
CASH FLOW
-$122

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$240,499

PROJECTED PRICE

$1,550

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
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-$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,732

INVESTMENT

$65,732

Down Payment
$60,125
Rehab Estimate
$2,000
Closing Costs
$3,607

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$887

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,125
Loan Amount $180,374
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$4,350

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,543

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5753$1,6954$1,700
$1,700
RENT COMPS ANALYSIS
  • 3317 Riverside Drive Aubrey, TX 1
    • 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.07
    •  
  • 10001 Lexington Drive Providence Village, TX 2
    • 3 beds 2 baths ∙ 1,308 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,308 Sqft ∙ Built 2005
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.20
    •  
  • 2509 Galisto Lane Providence Village, TX 3
    • 3 beds 2 baths ∙ 1,691 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,691 Sqft ∙ Built 2018
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.00
    •  
  • 10805 Blaze Street Providence Village, TX 4
    • 3 beds 2 baths ∙ 1,691 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,691 Sqft ∙ Built 2018
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.01
    •  
PROPERTY LISTING DETAILS
Wendell Miller
Wendell Miller Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470402
Last Updated: 11/12/2020
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