Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

363 Preakness Place Van Alstyne, TX 75495

4 Beds 4 Baths 3,388 sqft Built 2002

$485,000

List Price

$3,220

$3K - $3.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $143.15
  • 3 Days on Market
  • MLS # : 14512960
  • Updated Date : 03/13/2021 at 15:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,388 sqft
  • Baths : 3 full , 1 half
Listing Agent

Town Center Real Estate

Listing Agent's Description

LAND+HOME+CREEK+TREES in beautiful neighborhood of Steeplechase in Van Alstyne. This house is set on almost 2 acres and was custom built with oversized bedrooms. If you love nature, you will love the view from the living room. The primary bathroom has a beautiful tub with a separate shower and a large walk-in closet. Oversized laundry room located upstairs next to the primary bedroom with built-in cabinets and sink with lots of storage. Jack and Jill bathroom upstairs. 2 living areas, 2 dining areas and a walk-in pantry. This homeowner used space well. The formal dining room has a butlers pantry with a built in desk. Fresh paint throughout the inside. There is a separate room (13X6) upstairs for storage.

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: 75495

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $65k239k

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

Zip Code: 75495

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
Van Alstyne J H Primary Regular 407 28 8
Van Alstyne J H Middle Regular 407 28 8
Van Alstyne High School High Regular 447 31 7

Van Alstyne J H

  • Education Level: Primary
  • # of students: 407
  • # of teachers: 28
8
GreatSchools Rating

Van Alstyne J H

  • Education Level: Middle
  • # of students: 407
  • # of teachers: 28
8
GreatSchools Rating

Van Alstyne High School

  • Education Level: High
  • # of students: 447
  • # of teachers: 31
7
GreatSchools Rating
 

$436,500$533,500$485,000

PURCHASE PRICE

$2,898$3,542$3,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,220
EXPENSES Loan Payment -$1,685
Property Tax -$1,146
Property Insurance -$212
HOA -$8
Property Management Fees -$99
CASH FLOW
$71

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.

$485,000

PROJECTED PRICE

$3,220

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 7.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$134,275

INVESTMENT

$134,275

Down Payment
$121,250
Rehab Estimate
$5,750
Closing Costs
$7,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,685

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $121,250
Loan Amount $363,750
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$14,871

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,220

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $3,151

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,220
$3,220
RENT COMPS ANALYSIS
  • 363 Preakness Place Van Alstyne, TX 2
    • 4 beds 4 baths ∙ 3,388 Sqft ∙ Built 2002 4 beds 4 baths ∙ 3,388 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $3,220
    • $0.95
    •  
  • 1408 Hackberry Road Van Alstyne, TX 1
    • 3 beds 3 baths ∙ 3,216 Sqft ∙ Built 2000 3 beds 3 baths ∙ 3,216 Sqft ∙ Built 2000
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.93
    •  
PROPERTY LISTING DETAILS
Jana Young
Town Center Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14512960
Last Updated: 03/13/2021
BESbswy