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408 Carneros Drive Sherman, TX 75092

3 Beds 2 Baths 1,638 sqft Built 2020

INVESTimate

$255,000

List Price

$1,570

$1,413 - $1,727

Rent Est.

$270,555  ( +6.10%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $155.68
  • 7 Days on Market
  • MLS # : 14374663
  • Updated Date : 08/21/2020 at 13:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,638 sqft
  • Baths : 2 full
Listing Agent

Easy Life Realty

Listing Agent's Description

Ceci Bates Custom Homes construction at an affordable price. You would have to wait a whole year to design and build your dream home from Ceci Bates, this one can be ready first of October. Custom designed kitchen includes electric range, massive granite island, ss farm sink, custom cabinets. Important value included: 50 Yr. manufacture Warranty LP Siding, Drought Tolerant Landscaping, Sprinkler System, Gutters, Luxury Vinyl Plank Flooring, and timeless light fixtures. Your master retreat awaits with, walk-in shower for two, and a spacious walk-in closet.

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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: 75092

ZipNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150k160k170k180k190kPrice in $60k199k

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

Zip Code: 75092

No Data Available.

* 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
Dillingham Intermediate School Primary Regular 1,036 76 4
Dillingham Intermediate School Middle Regular 1,036 76 4
Sherman High School High Regular 1,780 119 5

Dillingham Intermediate School

  • Education Level: Primary
  • # of students: 1,036
  • # of teachers: 76
4
GreatSchools Rating

Dillingham Intermediate School

  • Education Level: Middle
  • # of students: 1,036
  • # of teachers: 76
4
GreatSchools Rating

Sherman High School

  • Education Level: High
  • # of students: 1,780
  • # of teachers: 119
5
GreatSchools Rating
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$941
Property Tax -$451
Property Insurance -$116
HOA -$15
Property Management Fees -$99
CASH FLOW
-$52

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.

$255,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 6.10%
Maintenance Year (1-5) 3.00%
Vacancy 6.00%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,575

INVESTMENT

$69,575

Down Payment
$63,750
Rehab Estimate
$2,000
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$6,214

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,572

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4603$1,5704$1,5955$1,650
$1,650
RENT COMPS ANALYSIS
  • 408 Carneros Drive Sherman, TX 3
    • 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.96
    •  
  • 308 E North Creek Drive Sherman, TX 1
    • 3 beds 3 baths ∙ 1,588 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,588 Sqft ∙ Built 2005
    property image
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.88
    •  
  • 3107 N Hickory Street Sherman, TX 2
    • 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 2017
    property image
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $1.00
    •  
  • 4908 Indio Lane Sherman, TX 4
    • 3 beds 2 baths ∙ 1,583 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,583 Sqft ∙ Built 2001
    property image
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.01
    •  
  • 4809 Indio Lane Sherman, TX 5
    • 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 2005
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.95
    •  
PROPERTY LISTING DETAILS
Lisa Hitchcock
Easy Life Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14374663
Last Updated: 08/21/2020
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