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407 Strait Lane Waxahachie, TX 75165

3 Beds 3 Baths 2,434 sqft Built 2021

$342,060

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $140.53
  • 4 Days on Market
  • MLS # : 14508207
  • Updated Date : 01/28/2021 at 12:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,434 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14508207 - Built by Antares Homes - May completion! ~ The expansive foyer has boxed ceilings and welcomes you to the separate study and formal dining room. Wood flooring flows through the common areas. Enjoy a cast stone corner fireplace in the family room. The kitchen features ample storage and counter space, a double door pantry, a central island, and a sunny breakfast nook access to the large rear covered patio. Dual vanities, a separate walk-in shower with a seat, a large corner garden tub, and a huge walk-in closet are in the master suite. Two additional bedrooms have easy access to a full bathroom and the powder room and full-sized utility room.

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: 75165

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $112k243k

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

Zip Code: 75165

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9841734

* 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
Felty Elementary School Primary Regular 521 33 8
Howard Junior High School Middle Regular 857 62 6
Waxahachie High School High Regular 1,985 138 4

Felty Elementary School

  • Education Level: Primary
  • # of students: 521
  • # of teachers: 33
8
GreatSchools Rating

Howard Junior High School

  • Education Level: Middle
  • # of students: 857
  • # of teachers: 62
6
GreatSchools Rating

Waxahachie High School

  • Education Level: High
  • # of students: 1,985
  • # of teachers: 138
4
GreatSchools Rating
 

$307,854$376,266$342,060

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,188
Property Tax -$742
Property Insurance -$168
HOA -$33
Property Management Fees -$99
CASH FLOW
-$31

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.

$342,060

PROJECTED PRICE

$2,200

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.1%
Maintenance Year (1-5) 3.00%
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$1.2M

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$92,646

INVESTMENT

$92,646

Down Payment
$85,515
Rehab Estimate
$2,000
Closing Costs
$5,131

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,188

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,515
Loan Amount $256,545
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$12,181

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,215

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9953$2,1904$2,2005$2,500
$2,500
RENT COMPS ANALYSIS
  • 407 Strait Lane Waxahachie, TX 4
    • 3 beds 3 baths ∙ 2,434 Sqft ∙ Built 2021 3 beds 3 baths ∙ 2,434 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.90
    •  
  • 205 S Hill Drive Waxahachie, TX 1
    • 3 beds 3 baths ∙ 2,116 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,116 Sqft ∙ Built 2002
    property image
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.87
    •  
  • 1642 Hillside Drive Waxahachie, TX 2
    • 3 beds 3 baths ∙ 2,292 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,292 Sqft ∙ Built 2006
    property image
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.87
    •  
  • 349 Strait Lane Waxahachie, TX 3
    • 4 beds 2 baths ∙ 2,250 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,250 Sqft ∙ Built 2017
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.97
    •  
  • 462 Harvest Grove Drive Waxahachie, TX 5
    • 4 beds 3 baths ∙ 2,676 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,676 Sqft ∙ Built 2018
    property image
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.93
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14508207
Last Updated: 01/28/2021
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