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3415 Gillespie Street Greenville, TX 75401

3 Beds 2 Baths 1,442 sqft Built 2020

$195,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $135.23
  • 3 Days on Market
  • MLS # : 14488344
  • Updated Date : 12/18/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,442 sqft
  • Baths : 2 full
Listing Agent

Mike Mazyck Realty

Listing Agent's Description

Beautiful three bedroom home recently completed. The spacious living area opens to the island kitchen with breakfast bar, granite counters, and stainless appliances. Large master suite featuring master bath and a walk in closet. Backyard has a covered patio and wood privacy fence.

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: 75401

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $67k243k

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

Zip Code: 75401

ZipNIR Market*Market2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Crockett Elementary School Primary Regular 378 28 4
Greenville Middle School Middle Regular 687 46 5
Greenville High School High Regular 1,077 89 5

Crockett Elementary School

  • Education Level: Primary
  • # of students: 378
  • # of teachers: 28
4
GreatSchools Rating

Greenville Middle School

  • Education Level: Middle
  • # of students: 687
  • # of teachers: 46
5
GreatSchools Rating

Greenville High School

  • Education Level: High
  • # of students: 1,077
  • # of teachers: 89
5
GreatSchools Rating
 

$175,500$214,500$195,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$719
Property Tax -$438
Property Insurance -$111
Property Management Fees -$99
CASH FLOW
-$27

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.

$195,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.9%
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$53,675

INVESTMENT

$53,675

Down Payment
$48,750
Rehab Estimate
$2,000
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$719

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$7,810

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,341

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3403$1,3504$1,3755$1,395
$1,395
RENT COMPS ANALYSIS
  • 3415 Gillespie Street Greenville, TX 2
    • 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.93
    •  
  • 3408 Eutopia Street Greenville, TX 1
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 2019
    property image
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.93
    •  
  • 3333 Dalton Street Greenville, TX 3
    • 3 beds 2 baths ∙ 1,493 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,493 Sqft ∙ Built 2020
    property image
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.90
    •  
  • 2812 Bourland Street Greenville, TX 4
    • 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 2020
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.94
    •  
  • 1910 Wesley Street Greenville, TX 5
    • 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 2020
    property image
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.95
    •  
PROPERTY LISTING DETAILS
Mike Mazyck
Mike Mazyck Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14488344
Last Updated: 12/18/2020
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