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4001 Ridgmar Lane Abilene, TX 79606

4 Beds 2 Baths 2,348 sqft Built 1998

$249,900

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $106.43
  • 2 Days on Market
  • MLS # : 14537137
  • Updated Date : 03/20/2021 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,348 sqft
  • Baths : 2 full
Listing Agent

Remax Of Abilene

Listing Agent's Description

This is a great property for the price. If you want a lot of space for the money this is the home. Sits on a large corner lot. Back yard huge with a large covered patio. Home features; 4 bedrooms, 2 living rooms, 2 dining and 2 baths. Master bedroom is separate from the other bedrooms with wood floors and private bathroom. The master is 20 X 15 . Master bathroom has jetted tub, separate shower, his and her sinks and walk-in closet. The kitchen has an open bar into dining and den. Sunny front dining and 2nd living. Versatile uses for these rooms. Immaculate condition, refrigerator, washer dryer stay. Cant beat the size of this yard and home for the price. Close to mall and Dyess Air Force base.

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

Neighborhood: Park Central Area

NeighborhoodNIR Market*CityMarket2010Year2005 Q3201970k80k90k100k110k120k130k140k150k160k170k180k190kPrice in $66k195k

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

Neighborhood: Park Central Area

NeighborhoodNIR Market*CityMarket2015Year20112019 Q2850900950100010501100115012001250Rent in $8171285

* 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
Ward Elementary School Primary Regular 550 31 6
Clack Middle School Middle Regular 818 58 4
Cooper High School High Regular 1,806 135 4

Ward Elementary School

  • Education Level: Primary
  • # of students: 550
  • # of teachers: 31
6
GreatSchools Rating

Clack Middle School

  • Education Level: Middle
  • # of students: 818
  • # of teachers: 58
4
GreatSchools Rating

Cooper High School

  • Education Level: High
  • # of students: 1,806
  • # of teachers: 135
4
GreatSchools Rating
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$868
Property Tax -$538
Property Insurance -$161
Property Management Fees -$99
CASH FLOW
$84

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 18% of earned rent to cover both maintenance and periods of vacancy.

$249,900

PROJECTED PRICE

$1,750

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 5.7%
Maintenance Year (1-5) 8.00%
Vacancy 9.90%
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

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$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$5,906

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,814

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7503$1,8004$1,8955$1,995
$1,995
RENT COMPS ANALYSIS
  • 4001 Ridgmar Lane Abilene, TX 2
    • 4 beds 2 baths ∙ 2,348 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,348 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.75
    •  
  • 4617 Catclaw Drive Abilene, TX 1
    • 4 beds 2 baths ∙ 2,263 Sqft ∙ Built 1983 4 beds 2 baths ∙ 2,263 Sqft ∙ Built 1983
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.75
    •  
  • 4626 Catclaw Drive Abilene, TX 3
    • 3 beds 3 baths ∙ 2,365 Sqft ∙ Built 1981 3 beds 3 baths ∙ 2,365 Sqft ∙ Built 1981
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.76
    •  
  • 4725 Catclaw Drive Abilene, TX 4
    • 3 beds 3 baths ∙ 2,458 Sqft ∙ Built 1982 3 beds 3 baths ∙ 2,458 Sqft ∙ Built 1982
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.77
    •  
  • 4034 Cougar Way Abilene, TX 5
    • 4 beds 3 baths ∙ 2,478 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,478 Sqft ∙ Built 2003
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.81
    •  
PROPERTY LISTING DETAILS
Rhonda Hatchett
Remax Of Abilene
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14537137
Last Updated: 03/20/2021
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