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400 E 3rd Street Tolar, TX 76476

3 Beds 3 Baths 1,970 sqft Built 2011

$259,900

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $131.93
  • 3 Days on Market
  • MLS # : 14473944
  • Updated Date : 11/20/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,970 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

WELCOME HOME! No neighbors or HOA! Sitting on .56acres on a tree lines property, this homes offers tons of space for outdoor living and fun! The soaring vaulted ceilings will catch your attention the moment you walk in the door. This large open concept home offer split bedrooms, tons of natural light, granite countertops, stone accents and many more upgrades. Step outside on to your oversized covered patio with outdoor fireplace that overlooks the serene backyard. Perfect for bird and deer watching! Plenty of space for a pool and prewired for a workshop. 1 year home warranty will convey.

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: 76476

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $84k243k

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

Zip Code: 76476

ZipNIR Market*CityMarket2010Year20002019 Q21100115012001250130013501400145015001550160016501700Rent in $10991734

* 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
Tolar Elementary School Primary Regular 347 23 6
Tolar Junior High School Middle Regular 156 14 6
Tolar High School High Regular 239 21 7

Tolar Elementary School

  • Education Level: Primary
  • # of students: 347
  • # of teachers: 23
6
GreatSchools Rating

Tolar Junior High School

  • Education Level: Middle
  • # of students: 156
  • # of teachers: 14
6
GreatSchools Rating

Tolar High School

  • Education Level: High
  • # of students: 239
  • # of teachers: 21
7
GreatSchools Rating
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$959
Property Tax -$505
Property Insurance -$141
Property Management Fees -$99
CASH FLOW
-$4

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.

$259,900

PROJECTED PRICE

$1,700

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$14,248

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,812

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,700
$1,700
RENT COMPS ANALYSIS
  • 400 E 3rd Street Tolar, TX 2
    • 3 beds 3 baths ∙ 1,970 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,970 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.86
    •  
  • 9118 Parkview Circle Tolar, TX 1
    • 3 beds 2 baths ∙ 1,637 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,637 Sqft ∙ Built 2010
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.92
    •  
PROPERTY LISTING DETAILS
Crystal Blake
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14473944
Last Updated: 11/20/2020
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