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3516 Sweet Grass Drive Aubrey, TX 76227

3 Beds 4 Baths 2,395 sqft Built 2021

$383,194

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $160.00
  • 5 Days on Market
  • MLS # : 14503267
  • Updated Date : 01/20/2021 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,395 sqft
  • Baths : 3 full , 1 half
Listing Agent

Highland Homes Realty

Listing Agent's Description

MLS# 14503267 - Built by Highland Homes - June completion! ~ 8’ Entry door. Open floorplan. Kitchen includes large island with stainless appliance package. Cabinets are 42” tall. Granite countertops. Walk in pantry. Dining area includes window seat. Separate utility room. Master bathroom includes separate shower and garden tub, with tile surround. Covered extended patio. Full sod, sprinkler and gutters.

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
Savannah Elementary School Primary Regular 640 42 6
Navo Middle School Middle Regular 1,077 65 7
Denton High School High Regular 2,166 140 6

Savannah Elementary School

  • Education Level: Primary
  • # of students: 640
  • # of teachers: 42
6
GreatSchools Rating

Navo Middle School

  • Education Level: Middle
  • # of students: 1,077
  • # of teachers: 65
7
GreatSchools Rating

Denton High School

  • Education Level: High
  • # of students: 2,166
  • # of teachers: 140
6
GreatSchools Rating
 

$344,875$421,513$383,194

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,331
Property Tax -$819
Property Insurance -$166
HOA -$68
Property Management Fees -$99
CASH FLOW
-$263

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.

$383,194

PROJECTED PRICE

$2,220

PROJECTED RENT

0.58%

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$1.2M

PROJECTED ANNUAL CASH FLOW

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

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$103,546

INVESTMENT

$103,546

Down Payment
$95,799
Rehab Estimate
$2,000
Closing Costs
$5,748

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,331

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $95,799
Loan Amount $287,396
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,471

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,245

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9953$2,1004$2,2205$2,250
$2,250
RENT COMPS ANALYSIS
  • 3516 Sweet Grass Drive Aubrey, TX 4
    • 3 beds 4 baths ∙ 2,395 Sqft ∙ Built 2021 3 beds 4 baths ∙ 2,395 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.93
    •  
  • 6214 Halton Drive Celina, TX 1
    • 4 beds 2 baths ∙ 2,050 Sqft ∙ Built 2020 4 beds 2 baths ∙ 2,050 Sqft ∙ Built 2020
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.95
    •  
  • 6221 Hightower Street Celina, TX 2
    • 4 beds 3 baths ∙ 2,095 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,095 Sqft ∙ Built 2019
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.95
    •  
  • 6001 Sutton Fields Trail Celina, TX 3
    • 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 2019
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.89
    •  
  • 6224 Heron Drive Celina, TX 5
    • 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 2019
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.96
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Highland Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14503267
Last Updated: 01/20/2021
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