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3612 Fm 1565 Caddo Mills, TX 75135

3 Beds 2 Baths 1,617 sqft Built 2005

INVESTimate

$275,000

List Price

$1,480

$1,332 - $1,628

Rent Est.

$295,900  ( +7.60%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $170.07
  • 5 Days on Market
  • MLS # : 14419157
  • Updated Date : 08/26/2020 at 03:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,617 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Ftworth

Listing Agent's Description

Updates galore, beautiful wood flooring throughout, granite everywhere possible, fresh paint, large covered patio, new stainless steel appliances. Most everything has been updated in the last 2 years including commercial grade water heater, Workshop has electricity and water and on huge 2 acre lot. Walking distance to Griffis Elementary, 4 miles from I-30, convenient to Dallas, Lake Lavon, Greenville. Open living area with wood burning fireplace, eat in kitchen and so much more. Master bath is completely remodeled and absolutely gorgeous with double vanity, walk in closets, all nestled in a country atmosphere but close to everything.

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 75135

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $84k243k

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

Zip Code: 75135

ZipNIR Market*Market2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* 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
Caddo Mills High School High Regular 447 33 6

Caddo Mills High School

  • Education Level: High
  • # of students: 447
  • # of teachers: 33
6
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,332$1,628$1,480

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$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$1,015
Property Tax -$520
Property Insurance -$121
Property Management Fees -$99
CASH FLOW
-$274

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.

$275,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.60%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$953

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,342

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,480
$1,480
RENT COMPS ANALYSIS
  • 3612 Fm 1565 Caddo Mills, TX 2
    • 3 beds 2 baths ∙ 1,617 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,617 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.92
    •  
  • 3437 W Caddo Drive Caddo Mills, TX 1
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2017
    property image
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.83
    •  
PROPERTY LISTING DETAILS
Tracey Pritchard
Keller Williams Realty Ftworth
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419157
Last Updated: 08/26/2020
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