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409 Paloma Street Weatherford, TX 76087

3 Beds 2 Baths 1,770 sqft Built 2020

$258,645

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $146.13
  • 2 Days on Market
  • MLS # : 14471669
  • Updated Date : 11/14/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,770 sqft
  • Baths : 2 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14471669 - Built by Impression Homes - December completion! ~ Beautiful Impression Homes Boston Plan in Lockwood Estates! This 3 bedroom, 2 bath, 2 car garage will be ready Mid December!! This home features a very open concept perfect for casual living and entertaining! Spacious Kitchen is open to dining and family room with an eat in kitchen island, lots of cabinet space and large kitchen pantry. The family room features 10 foot ceilings and tons of natural light! The exterior of the home is a combination of brick and stone and has an amazing covered back patio perfect for enjoying the evening sunset! Country Living with Shopping and Entertainment just minutes away!

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*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $104k342k

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

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11212171

* 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
Stephen F. Austin Elementary School Primary Regular 579 35 6
Stephen F. Austin Elementary School Middle Regular 579 35 6
Weatherford High School High Regular 2,238 148 6

Stephen F. Austin Elementary School

  • Education Level: Primary
  • # of students: 579
  • # of teachers: 35
6
GreatSchools Rating

Stephen F. Austin Elementary School

  • Education Level: Middle
  • # of students: 579
  • # of teachers: 35
6
GreatSchools Rating

Weatherford High School

  • Education Level: High
  • # of students: 2,238
  • # of teachers: 148
6
GreatSchools Rating
 

$232,781$284,510$258,645

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$954
Property Tax -$550
Property Insurance -$130
HOA -$25
Property Management Fees -$99
CASH FLOW
$72

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.

$258,645

PROJECTED PRICE

$1,830

PROJECTED RENT

0.71%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,541

INVESTMENT

$70,541

Down Payment
$64,661
Rehab Estimate
$2,000
Closing Costs
$3,880

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$954

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,661
Loan Amount $193,984
See What Happens When You Reinvest Cash Flow

5.83

YEARS SAVED

$20,422

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,841

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7003$1,7504$1,8305$1,875
$1,875
RENT COMPS ANALYSIS
  • 409 Paloma Street Weatherford, TX 4
    • 3 beds 2 baths ∙ 1,770 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,770 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $1.03
    •  
  • 1121 Timber Creek Drive Weatherford, TX 1
    • 3 beds 2 baths ∙ 1,682 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,682 Sqft ∙ Built 2002
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.01
    •  
  • 1306 Timber Creek Drive Weatherford, TX 2
    • 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 2000
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.04
    •  
  • 2114 Quail Ridge Drive Weatherford, TX 3
    • 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 2002
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.09
    •  
  • 801 Soapberry Drive Weatherford, TX 5
    • 4 beds 2 baths ∙ 1,839 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,839 Sqft ∙ Built 2008
    LEASED 07/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.02
    •  
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 #: 14471669
Last Updated: 11/14/2020
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