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3409 Buster Way Corinth, TX 76210

3 Beds 3 Baths 1,609 sqft Built 2021

$319,990

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $198.88
  • 3 Days on Market
  • MLS # : 14538924
  • Updated Date : 03/26/2021 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,609 sqft
  • Baths : 2 full , 1 half
Listing Agent

Escape Realty

Listing Agent's Description

Built by M-I Homes - Welcome to this 3 bedroom, 2.5 bathroom Verbena floorplan. Chic LVP flooring graces the first floor. Immediately off the entry is an ideally placed powder bathroom. The family room and kitchen seamlessly adjoin allowing for open seating and flow. The kitchen boasts light granite countertops, a walk-in pantry, and spacious upper and lower cabinets. Upstairs, 2 large windows and beautiful sloped ceilings truly make the owner's suite something to marvel at. Light ceramic floor tile runs up the walls of the walk-in shower and is accented by 2 bands of intricate taupe, beige, and white tile for a pop of color and contrast and large walk-in closet to top it all off. There's everything to love!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Wheeler Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k336k

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

Neighborhood: Wheeler Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8692171

* 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
L.a. Nelson Elementary School Primary Regular 655 43 7
Crownover Middle School Middle Regular 938 59 8
John H. Guyer High School High Regular 2,395 162 8

L.a. Nelson Elementary School

  • Education Level: Primary
  • # of students: 655
  • # of teachers: 43
7
GreatSchools Rating

Crownover Middle School

  • Education Level: Middle
  • # of students: 938
  • # of teachers: 59
8
GreatSchools Rating

John H. Guyer High School

  • Education Level: High
  • # of students: 2,395
  • # of teachers: 162
8
GreatSchools Rating
 

$287,991$351,989$319,990

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,111
Property Tax -$636
Property Insurance -$120
HOA -$71
Property Management Fees -$99
CASH FLOW
-$338

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.

$319,990

PROJECTED PRICE

$1,700

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.2%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,797

INVESTMENT

$86,797

Down Payment
$79,998
Rehab Estimate
$2,000
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,998
Loan Amount $239,993
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$337

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,693

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,7004$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 3409 Buster Way Corinth, TX 3
    • 3 beds 3 baths ∙ 1,609 Sqft ∙ Built 2021 3 beds 3 baths ∙ 1,609 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.06
    •  
  • 2904 Paddock Way Denton, TX 1
    • 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 2006
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
  • 6624 Saddleback Drive Denton, TX 2
    • 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 2007
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.09
    •  
  • 3005 Groveland Terrace Denton, TX 4
    • 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 2007
    LEASED 01/21/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.06
    •  
  • 6324 Thoroughbred Trail Denton, TX 5
    • 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 2005
    LEASED 02/23/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.06
    •  
PROPERTY LISTING DETAILS
Cassian Bernard
Escape Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14538924
Last Updated: 03/26/2021
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