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412 Richard Street Crowley, TX 76036

4 Beds 3 Baths 2,389 sqft Built 2016

INVESTimate

$305,000

List Price

$1,990

$1,791 - $2,189

Rent Est.

$324,703  ( +6.46%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2016
  • Price/Sqft : $127.67
  • 58 Days on Market
  • MLS # : 14374187
  • Updated Date : 08/20/2020 at 16:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,389 sqft
  • Baths : 2 full , 1 half
Listing Agent

Peak Results Realty Team

Listing Agent's Description

THE NEXT BEST THING TO NEW CONSTRUCTION! With over $30k in upgrades, this Crowley address, Burleson ISD, like new home offers 4 spacious bedrooms, 2.5 baths and an open concept floor plan. The bright gourmet kitchen features stainless appliances, glass subway tile, upgraded beveled edge granite counter tops, large island, and trash pull out. Stunning great room with a wall of windows and wood burning stacked stone fireplace is sure to be the heart of your home. Step inside your private master suite for some much needed and deserved R & R. Your oversized master closet is a shoe lovers dream, with floor to ceiling shoe shelves. Don't wait for new construction, schedule your private showing today!

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

Neighborhood: Crowley

ZipNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240kPrice in $122k243k

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

Neighborhood: Crowley

ZipNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* 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
Frazier Elementary School Primary Regular 569 36 7
Hughes Middle School Middle Regular 1,200 71 5
Burleson High School High Regular 1,583 101 7

Frazier Elementary School

  • Education Level: Primary
  • # of students: 569
  • # of teachers: 36
7
GreatSchools Rating

Hughes Middle School

  • Education Level: Middle
  • # of students: 1,200
  • # of teachers: 71
5
GreatSchools Rating

Burleson High School

  • Education Level: High
  • # of students: 1,583
  • # of teachers: 101
7
GreatSchools Rating
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,125
Property Tax -$756
Property Insurance -$165
HOA -$33
Property Management Fees -$99
CASH FLOW
-$188

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.

$305,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.46%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,310

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,846

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8203$1,9254$1,9505$1,990
$1,990
RENT COMPS ANALYSIS
  • 412 Richard Street Crowley, TX 5
    • 4 beds 3 baths ∙ 2,389 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,389 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.83
    •  
  • 1408 Blue Gill Lane Crowley, TX 1
    • 3 beds 2 baths ∙ 2,193 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,193 Sqft ∙ Built 2003
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.80
    •  
  • 817 Misty Oak Trail Burleson, TX 2
    • 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 2010
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.76
    •  
  • 1216 Juniper Lane Burleson, TX 3
    • 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 2006
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.76
    •  
  • 828 Pebblecreek Drive Burleson, TX 4
    • 4 beds 3 baths ∙ 2,532 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,532 Sqft ∙ Built 2006
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.77
    •  
PROPERTY LISTING DETAILS
Ruth Adams
Peak Results Realty Team
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14374187
Last Updated: 08/20/2020
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