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338 Red Bird Drive Springtown, TX 76082

4 Beds 3 Baths 2,644 sqft Built 2021

$407,000

List Price

$2,940

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $153.93
  • 4 Days on Market
  • MLS # : 14498918
  • Updated Date : 01/14/2021 at 02:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,644 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Come see this gorgeously appointed stunner by Abba River Homes! Beautifully situated on a 1 acre lot, you'll find something for everyone. Perfect for entertaining, the open concept kitchen looks into an ample living room which boasts soaring ceilings and expertly crafted WBFP. The primary suite provides an amazing retreat at the end of a long day, while the 3 guest bedrooms, office AND game room offer an abundance of space for all. High end finishes throughout lend a luxurious feel, while the back porch complete with outdoor fireplace is an excellent place to unwind. Call today for your private showing!

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

Zip Code: 76082

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 76082

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8791734

* 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
Goshen Creek Elementary School Primary Regular 539 32 5
Springtown Middle School Middle Regular 530 35 6
Springtown High School High Regular 912 72 5

Goshen Creek Elementary School

  • Education Level: Primary
  • # of students: 539
  • # of teachers: 32
5
GreatSchools Rating

Springtown Middle School

  • Education Level: Middle
  • # of students: 530
  • # of teachers: 35
6
GreatSchools Rating

Springtown High School

  • Education Level: High
  • # of students: 912
  • # of teachers: 72
5
GreatSchools Rating
 

$366,300$447,700$407,000

PURCHASE PRICE

$2,646$3,234$2,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,940
EXPENSES Loan Payment -$1,414
Property Tax -$846
Property Insurance -$180
Property Management Fees -$99
CASH FLOW
$402

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.

$407,000

PROJECTED PRICE

$2,940

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.6%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,855

INVESTMENT

$109,855

Down Payment
$101,750
Rehab Estimate
$2,000
Closing Costs
$6,105

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,414

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $101,750
Loan Amount $305,250
See What Happens When You Reinvest Cash Flow

9.75

YEARS SAVED

$60,662

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,940

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $2,856

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,940
$2,940
RENT COMPS ANALYSIS
  • 338 Red Bird Drive Springtown, TX 2
    • 4 beds 3 baths ∙ 2,644 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,644 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,940
    • $1.11
    •  
  • 2048 Dash Lane Springtown, TX 1
    • 3 beds 2 baths ∙ 2,315 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,315 Sqft ∙ Built 2018
    property image
    LEASED 10/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.08
    •  
PROPERTY LISTING DETAILS
Deana Cox
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14498918
Last Updated: 01/14/2021
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