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401 Nora Argyle, TX 76226

3 Beds 4 Baths 3,296 sqft Built 2018

$585,000

List Price

$3,260

$3K - $3.5K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $177.49
  • 4 Days on Market
  • MLS # : 14476123
  • Updated Date : 12/03/2020 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,296 sqft
  • Baths : 3 full , 1 half
Listing Agent

Magnolia Realty Argyle

Listing Agent's Description

Welcome home to this dream nestled in the heart of Argyle. Endless upgrades throughout set this home apart. Walking into the entry you're greeted by vaulted ceilings & hand-scraped hardwood floors that guide you throughout. Create holiday masterpieces in your breathtaking kitchen featuring SS appliances, 5 burner gas cooktop, double oven, oversized island, & much more! The living room is centered with a striking stone fireplace and lined with tall windows that allow natural light to fill the space. Retreat to your private master bedroom featuring a spa-inspired bathroom. Media Room upstairs with .5 bath makes movie nights with loved ones easy. Outdoor living features a stone fireplace made for keeping you warm.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Zip Code: 76226

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k417k

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

Zip Code: 76226

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262773

* 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
Argyle Intermediate School Primary Regular 295 17 8
Argyle Intermediate School Middle Regular 295 17 8
Argyle High School High Regular 711 50 8

Argyle Intermediate School

  • Education Level: Primary
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle Intermediate School

  • Education Level: Middle
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle High School

  • Education Level: High
  • # of students: 711
  • # of teachers: 50
8
GreatSchools Rating
 

$526,500$643,500$585,000

PURCHASE PRICE

$2,934$3,586$3,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,260
EXPENSES Loan Payment -$2,158
Property Tax -$1,163
Property Insurance -$218
HOA -$83
Property Management Fees -$99
CASH FLOW
-$462

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$585,000

PROJECTED PRICE

$3,260

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$160,775

INVESTMENT

$160,775

Down Payment
$146,250
Rehab Estimate
$5,750
Closing Costs
$8,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,158

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $146,250
Loan Amount $438,750
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$4,050

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,260

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $3,307

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,2603$3,5004$3,650
$3,650
RENT COMPS ANALYSIS
  • 401 Nora Argyle, TX 2
    • 3 beds 4 baths ∙ 3,296 Sqft ∙ Built 2018 3 beds 4 baths ∙ 3,296 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $3,260
    • $0.99
    •  
  • 312 Creekside Trail Argyle, TX 1
    • 4 beds 3 baths ∙ 3,021 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,021 Sqft ∙ Built 2004
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.99
    •  
  • 414 Pegasus Ridge Argyle, TX 3
    • 4 beds 4 baths ∙ 3,446 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,446 Sqft ∙ Built 2018
    LEASED 06/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.02
    •  
  • 321 Ellison Trace Argyle, TX 4
    • 4 beds 4 baths ∙ 3,641 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,641 Sqft ∙ Built 2014
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $1.00
    •  
PROPERTY LISTING DETAILS
Stephanie Browne
Magnolia Realty Argyle
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14476123
Last Updated: 12/03/2020
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