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405 Zion Hill Road Weatherford, TX 76088

3 Beds 2 Baths 2,249 sqft Built 2001

$315,900

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $140.46
  • 2 Days on Market
  • MLS # : 14475637
  • Updated Date : 11/21/2020 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,249 sqft
  • Baths : 2 full
Listing Agent

Overton Properties

Listing Agent's Description

Country Living on 1 Acre in the City, Lovely tree lined driveway. Large kitchen with granite, range, BI microwave, instant hot water, cabinets galore, raised dishwasher, and breakfast bar. Custom light fixtures and fans. Custom window shutters on breakfast and living room windows. Marble fireplace with gas logs, thermostatically controlled. Walk in closet in hall. Large covered brick patio and steps to round rock patio under trees. Sprinkler system in front and partial in back yard. Exterior lighting on drive way and house. New iron fence on side yard to street. Additional 1.154 Acres with 30 x 50 storage barn is available for $150,000.

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: 76088

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $104k283k

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

Zip Code: 76088

ZipNIR Market*CityMarket2010Year20002019 Q21100115012001250130013501400145015001550160016501700Rent in $10561748

* 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
Peaster Elementary School Primary Regular 548 36 5
Peaster Middle School Middle Regular 254 20 6
Peaster High School High Regular 289 30 7

Peaster Elementary School

  • Education Level: Primary
  • # of students: 548
  • # of teachers: 36
5
GreatSchools Rating

Peaster Middle School

  • Education Level: Middle
  • # of students: 254
  • # of teachers: 20
6
GreatSchools Rating

Peaster High School

  • Education Level: High
  • # of students: 289
  • # of teachers: 30
7
GreatSchools Rating
 

$284,310$347,490$315,900

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,166
Property Tax -$672
Property Insurance -$157
Property Management Fees -$99
CASH FLOW
$16

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.

$315,900

PROJECTED PRICE

$2,110

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.1%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,464

INVESTMENT

$89,464

Down Payment
$78,975
Rehab Estimate
$5,750
Closing Costs
$4,739

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,166

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,975
Loan Amount $236,925
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$18,513

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,271

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$2,1103$2,495
$2,495
RENT COMPS ANALYSIS
  • 405 Zion Hill Road Weatherford, TX 2
    • 3 beds 2 baths ∙ 2,249 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,249 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $0.94
    •  
  • 611 N Rusk Street Weatherford, TX 1
    • 3 beds 2 baths ∙ 1,952 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,952 Sqft ∙ Built 2019
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.96
    •  
  • 112 Ellis Spring Drive Weatherford, TX 3
    • 3 beds 3 baths ∙ 2,363 Sqft ∙ Built 2011 3 beds 3 baths ∙ 2,363 Sqft ∙ Built 2011
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.06
    •  
PROPERTY LISTING DETAILS
Carl Overton
Overton Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475637
Last Updated: 11/21/2020
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