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404 E Paddock Willow Park, TX 76087

4 Beds 5 Baths 3,318 sqft Built 2021

$511,067

List Price

$2,950

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $154.03
  • 2 Days on Market
  • MLS # : 14501256
  • Updated Date : 01/16/2021 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,318 sqft
  • Baths : 3 full , 2 half
Listing Agent

Village Homes

Listing Agent's Description

Lovely 4 bedroom modern, clean lined aesthetic with ample room for everyone, hobbies, and work from home scenarios. Dedicated dining room; open kitchen, family, breakfast space; soaring ceilings to 20 feet. Fireplace and abundant light make this an inviting space to gather. Master suite with separate vanities, spa shower, and soaking tub with tons of custom cabinetry and walk in closets. Luxury finishes throughout. Additional office or exercise space on first floor, three bedrooms, two sharing a Jack and Jill bath, and one with its own are on the second floor along with a game room and additional loft space for study or play. Kitchen is a cook's dream with gas cooking, stainless steel appliances. Must see!

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: 76087

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k342k

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

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Mcanally Intermediate School Primary Regular 785 43 7
Aledo Middle School Middle Regular 804 47 9
Aledo High School High Regular 1,193 72 7

Mcanally Intermediate School

  • Education Level: Primary
  • # of students: 785
  • # of teachers: 43
7
GreatSchools Rating

Aledo Middle School

  • Education Level: Middle
  • # of students: 804
  • # of teachers: 47
9
GreatSchools Rating

Aledo High School

  • Education Level: High
  • # of students: 1,193
  • # of teachers: 72
7
GreatSchools Rating
 

$459,960$562,174$511,067

PURCHASE PRICE

$2,655$3,245$2,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,950
EXPENSES Loan Payment -$1,775
Property Tax -$1,088
Property Insurance -$219
HOA -$50
Property Management Fees -$99
CASH FLOW
-$281

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$511,067

PROJECTED PRICE

$2,950

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 3.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,433

INVESTMENT

$137,433

Down Payment
$127,767
Rehab Estimate
$2,000
Closing Costs
$7,666

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,775

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $127,767
Loan Amount $383,300
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$5,381

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,950

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,903

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,375
1$2,3752$2,9503$3,000
$3,000
RENT COMPS ANALYSIS
  • 404 E Paddock Willow Park, TX 2
    • 4 beds 5 baths ∙ 3,318 Sqft ∙ Built 2021 4 beds 5 baths ∙ 3,318 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.89
    •  
  • 922 Thistle Hill Trail Weatherford, TX 1
    • 4 beds 3 baths ∙ 3,051 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,051 Sqft ∙ Built 2004
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.78
    •  
  • 521 Parker Oaks Lane Hudson Oaks, TX 3
    • 3 beds 3 baths ∙ 3,105 Sqft ∙ Built 2013 3 beds 3 baths ∙ 3,105 Sqft ∙ Built 2013
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.97
    •  
PROPERTY LISTING DETAILS
Janet Bishop
Village Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501256
Last Updated: 01/16/2021
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