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333 Pearl Street Cleburne, TX 76031

3 Beds 2 Baths 1,345 sqft Built 2021

$204,935

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $152.37
  • 4 Days on Market
  • MLS # : 14513113
  • Updated Date : 02/04/2021 at 16:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,345 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Welcome to one of Cleburnes newest neighborhoods this home is currently under construction and will feature stainless steel appliances granite countertops in kitchen venetian marble countertops in bathrooms and nickel finish interior lighting just to name a few items.

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

Zip Code: 76031

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 76031

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8731734

* 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
Adams Elementary School Primary Regular 435 31 5
Smith Middle School Middle Regular 775 53 4
Cleburne High School High Regular 1,653 110 4

Adams Elementary School

  • Education Level: Primary
  • # of students: 435
  • # of teachers: 31
5
GreatSchools Rating

Smith Middle School

  • Education Level: Middle
  • # of students: 775
  • # of teachers: 53
4
GreatSchools Rating

Cleburne High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 110
4
GreatSchools Rating
 

$184,442$225,429$204,935

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$712
Property Tax -$505
Property Insurance -$105
Property Management Fees -$99
CASH FLOW
-$40

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.

$204,935

PROJECTED PRICE

$1,380

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 3.00%
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

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$56,308

INVESTMENT

$56,308

Down Payment
$51,234
Rehab Estimate
$2,000
Closing Costs
$3,074

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$712

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $51,234
Loan Amount $153,701
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$5,411

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,379

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,1953$1,3794$1,3805$1,550
$1,550
RENT COMPS ANALYSIS
  • 333 Pearl Street Cleburne, TX 4
    • 3 beds 2 baths ∙ 1,345 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,345 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $1.03
    •  
  • 608 S Robinson Street Cleburne, TX 1
    • 3 beds 2 baths ∙ 1,104 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,104 Sqft ∙ Built 2007
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $1.00
    •  
  • 207 Robbins Street Cleburne, TX 2
    • 3 beds 2 baths ∙ 1,090 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,090 Sqft ∙ Built 2020
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $1.10
    •  
  • 307 Boyd Street Cleburne, TX 3
    • 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 2005
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,379
    • $1.00
    •  
  • 895 Chase Avenue Cleburne, TX 5
    • 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 2020
    LEASED 01/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.00
    •  
PROPERTY LISTING DETAILS
Toie Harp
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14513113
Last Updated: 02/04/2021
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