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400 Vawter Drive Van Alstyne, TX 75495

5 Beds 3 Baths 3,034 sqft Built 2020

INVESTimate

$359,900

List Price

$1,790

$1,611 - $1,969

Rent Est.

$388,404  ( +7.92%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $118.62
  • 3 Days on Market
  • MLS # : 14420051
  • Updated Date : 08/25/2020 at 02:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,034 sqft
  • Baths : 3 full
Listing Agent

Key Trek-cc

Listing Agent's Description

Tour the Coronado II in charming Van Alstyne - located halfway between McKinney and relaxing Lake Texoma. Wonderful Van Alstyne ISD schools are adjacent to Ascend at Sanford Park! This caring community built by K. Hovnanian Homes welcomes your family with a small town atmosphere! Beautiful new 2-story home features a home office, game room, and media room! Lovely kitchen with stylish quartz counters & stainless GE® appliances. Luxury bath in owner’s suite. Covered patio & sodded yard with zone irrigation system for outdoor enjoyment! Brilliant Smart Home system. Low-E vinyl windows & radiant barrier decking are a few extras you will find in this home! Great location! $42,200 in upgrades included!

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: 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
 

$323,910$395,890$359,900

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,328
Property Tax -$850
Property Insurance -$192
HOA -$50
Property Management Fees -$99
CASH FLOW
-$730

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$359,900

PROJECTED PRICE

$1,790

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 7.92%
Maintenance Year (1-5) 3.00%
Vacancy 6.00%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,374

INVESTMENT

$97,374

Down Payment
$89,975
Rehab Estimate
$2,000
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$62

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.59

    LIST RENT PER SQFT
  • $2,184

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,790
1$1,7902$2,1003$2,100
$2,100
RENT COMPS ANALYSIS
  • 400 Vawter Drive Van Alstyne, TX 1
    • 5 beds 3 baths ∙ 3,034 Sqft ∙ Built 2020 5 beds 3 baths ∙ 3,034 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.59
    •  
  • 1513 Colgate Drive Van Alstyne, TX 2
    • 4 beds 3 baths ∙ 2,913 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,913 Sqft ∙ Built 2015
    property image
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.72
    •  
  • 1523 Colgate Drive Van Alstyne, TX 3
    • 5 beds 3 baths ∙ 2,913 Sqft ∙ Built 2015 5 beds 3 baths ∙ 2,913 Sqft ∙ Built 2015
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.72
    •  
PROPERTY LISTING DETAILS
Teri Walter
Key Trek-cc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14420051
Last Updated: 08/25/2020
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