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412 Paloma Street Weatherford, TX 76087

3 Beds 3 Baths 2,215 sqft Built 2021

$325,337

List Price

$2,460

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $146.88
  • 6 Days on Market
  • MLS # : 14497913
  • Updated Date : 01/14/2021 at 10:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,215 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Lillian Custom Homes, The Cumberland plan offers a versatile layout w 3 Bedrooms, 2.5 Bathrooms, Open Concept Family Room w Fireplace & Kitchen, 2nd Living Room that could double as a perfect Study, & a Game Room. The Kitchen features an Island, Granite Counters, Stainless Steel Appliances, & Breakfast Nook. Master suite has 2 sinks & lg shower. This home has a covered front porch, covered back patio & your fence is included! Spray foam insulation, smart home, gutters, blinds, in-ground sprinklers, full sod, flowerbed, & two trees. Energy Efficient. Ask about our Hometown Heroes incentive. *This home is currently under construction. Photos are only a representation of this floor plan. Design choices may vary.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
 

$292,803$357,871$325,337

PURCHASE PRICE

$2,214$2,706$2,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,460
EXPENSES Loan Payment -$1,130
Property Tax -$692
Property Insurance -$155
HOA -$25
Property Management Fees -$99
CASH FLOW
$359

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.

$325,337

PROJECTED PRICE

$2,460

PROJECTED RENT

0.76%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$88,214

INVESTMENT

$88,214

Down Payment
$81,334
Rehab Estimate
$2,000
Closing Costs
$4,880

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,130

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,334
Loan Amount $244,003
See What Happens When You Reinvest Cash Flow

10.5

YEARS SAVED

$52,688

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,460

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $2,503

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4003$2,460
$2,460
RENT COMPS ANALYSIS
  • 412 Paloma Street Weatherford, TX 3
    • 3 beds 3 baths ∙ 2,215 Sqft ∙ Built 2021 3 beds 3 baths ∙ 2,215 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,460
    • $1.11
    •  
  • 1901 Clear Creek Drive Weatherford, TX 1
    • 4 beds 2 baths ∙ 2,021 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,021 Sqft ∙ Built 2019
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.14
    •  
  • 629 Zachary Drive Weatherford, TX 2
    • 4 beds 2 baths ∙ 2,137 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,137 Sqft ∙ Built 2018
    property image
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.12
    •  
PROPERTY LISTING DETAILS
Ashlee Mcghee
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14497913
Last Updated: 01/14/2021
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