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3409 Riverside Drive Aubrey, TX 76227

4 Beds 3 Baths 2,487 sqft Built 2020

$346,052

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $139.14
  • 5 Days on Market
  • MLS # : 14470060
  • Updated Date : 11/20/2020 at 15:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,487 sqft
  • Baths : 3 full
Listing Agent

Gehan Homes Brokerage, Llc

Listing Agent's Description

Brand NEW Single-Story Gehan Home with 4 Bedrooms, 3 Bathrooms, 2 Car Garage and so much more! This home has a covered back patio, spacious pantry, open concept from kitchen to family. An elegant entry welcomes you with style, with high ceilings. The spacious kitchen features hardwood floors and a large island. The cozy breakfast nook offers a unique view to the family room. Enjoy the relaxing master suite and a luxurious master bath. This plan offers plenty of room to grow.

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: 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
 

$311,447$380,657$346,052

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$1,277
Property Tax -$750
Property Insurance -$171
HOA -$61
Property Management Fees -$99
CASH FLOW
-$198

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.

$346,052

PROJECTED PRICE

$2,160

PROJECTED RENT

0.62%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$93,704

INVESTMENT

$93,704

Down Payment
$86,513
Rehab Estimate
$2,000
Closing Costs
$5,191

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,277

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,513
Loan Amount $259,539
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,730

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,114

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,8903$2,1604$2,3005$2,400
$2,400
RENT COMPS ANALYSIS
  • 3409 Riverside Drive Aubrey, TX 3
    • 4 beds 3 baths ∙ 2,487 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,487 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $0.87
    •  
  • 1913 Bridgeport Drive Providence Village, TX 1
    • 3 beds 2 baths ∙ 2,208 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,208 Sqft ∙ Built 2004
    LEASED 07/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.75
    •  
  • 2604 Wheeler Avenue Aubrey, TX 2
    • 4 beds 2 baths ∙ 2,141 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,141 Sqft ∙ Built 2019
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.88
    •  
  • 10800 Cobalt Drive Aubrey, TX 4
    • 4 beds 3 baths ∙ 2,729 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,729 Sqft ∙ Built 2018
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.84
    •  
  • 2824 Grizzly Road Aubrey, TX 5
    • 4 beds 2 baths ∙ 2,571 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,571 Sqft ∙ Built 2019
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.93
    •  
PROPERTY LISTING DETAILS
April Maki
Gehan Homes Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470060
Last Updated: 11/20/2020
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