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3409 Columbus Street Gainesville, TX 76240

3 Beds 2 Baths 2,086 sqft Built 2014

INVESTimate

$229,000

List Price

$1,750

$1,575 - $1,925

Rent Est.

$245,557  ( +7.23%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2014
  • Price/Sqft : $109.78
  • 9 Days on Market
  • MLS # : 14415345
  • Updated Date : 08/19/2020 at 04:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,086 sqft
  • Baths : 2 full
Listing Agent

Premiere Real Estate

Listing Agent's Description

Adorable and move in ready! Well maintained, beautifully designed open floor plan. Master suite with garden tub, his and her sinks, separate shower and walk-in closet. Open kitchen with granite countertops, breakfast bar and pantry. Eat in kitchen area and formal dining. New paint and vinyl plank flooring in the living room. Office can be easily converted to 4th bedroom. Lots of storage. Beautiful landscaping and sprinkler system. Buyer to verify all information.

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: 76240

ZipNIR Market*CityMarket20102015Year2006201980k90k100k110k120k130k140k150k160kPrice in $74k167k

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

Zip Code: 76240

No Data Available.

* 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
Robert E Lee Intermediate School Primary Regular 449 30 3
Gainesville Middle School Middle Regular 391 29 5
Gainesville High School High Regular 719 55 3

Robert E Lee Intermediate School

  • Education Level: Primary
  • # of students: 449
  • # of teachers: 30
3
GreatSchools Rating

Gainesville Middle School

  • Education Level: Middle
  • # of students: 391
  • # of teachers: 29
5
GreatSchools Rating

Gainesville High School

  • Education Level: High
  • # of students: 719
  • # of teachers: 55
3
GreatSchools Rating
 

$206,100$251,900$229,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$845
Property Tax -$507
Property Insurance -$143
Property Management Fees -$99
CASH FLOW
$156

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$229,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 7.23%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,435

INVESTMENT

$66,435

Down Payment
$57,250
Rehab Estimate
$5,750
Closing Costs
$3,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$845

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,250
Loan Amount $171,750
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$19,041

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,877

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6003$1,7504$1,750
$1,750
RENT COMPS ANALYSIS
  • 3409 Columbus Street Gainesville, TX 4
    • 3 beds 2 baths ∙ 2,086 Sqft ∙ Built 2014 3 beds 2 baths ∙ 2,086 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.84
    •  
  • 401 Ritchey Street Gainesville, TX 1
    • 3 beds 2 baths ∙ 1,803 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,803 Sqft ∙ Built 2018
    LEASED 05/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.89
    •  
  • 211 Candlewood Circle Gainesville, TX 2
    • 4 beds 2 baths ∙ 1,794 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,794 Sqft ∙ Built 2015
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.89
    •  
  • 1810 Silver Oak Drive Gainesville, TX 3
    • 3 beds 2 baths ∙ 1,893 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,893 Sqft ∙ Built 2018
    LEASED 03/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.92
    •  
PROPERTY LISTING DETAILS
Jennifer Fogle
Premiere Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415345
Last Updated: 08/19/2020
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