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413 Ashley Place Murphy, TX 75094

4 Beds 4 Baths 3,574 sqft Built 2001

$415,000

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $116.12
  • 2 Days on Market
  • MLS # : 14469332
  • Updated Date : 11/14/2020 at 10:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,574 sqft
  • Baths : 3 full , 1 half
Listing Agent

Colleen Frost Real Estate Serv

Listing Agent's Description

WON’T LAST LONG!! Shows like a Model Home with fabulous HARDWOOD FLOORING, open floorplan, vaulted ceilings, neutral colors, NEW CARPET, study with french doors, & dual staircases. Be Home for the Holidays in your COMPLETELY REMODELED gorgeous WHITE QUARTZ kitchen with all white cabinets, stainless steel appliances, 5-burner gas cooktop, & double ovens! Amazing updated master bathroom with FRAMELESS GLASS SHOWER, dual vanities, & beautiful tilework. Huge GAME ROOM plus 3 secondary bedrooms upstairs. Tall mature TREES shade backyard with relaxing COVERED PATIO. Wonderful curb appeal, extended driveway with additional parking. Close to shops and restaurants. SO MUCH MORE!

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: Windy Hill Farms

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $123k448k

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

Neighborhood: Windy Hill Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262518

* 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
Boggess Elementary School Primary Regular 772 52 9
Murphy Middle School Middle Regular 1,217 65 10
Mcmillen High School High Regular 1,088 70 8

Boggess Elementary School

  • Education Level: Primary
  • # of students: 772
  • # of teachers: 52
9
GreatSchools Rating

Murphy Middle School

  • Education Level: Middle
  • # of students: 1,217
  • # of teachers: 65
10
GreatSchools Rating

Mcmillen High School

  • Education Level: High
  • # of students: 1,088
  • # of teachers: 70
8
GreatSchools Rating
 

$373,500$456,500$415,000

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$1,531
Property Tax -$722
Property Insurance -$234
HOA -$41
Property Management Fees -$99
CASH FLOW
-$237

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$415,000

PROJECTED PRICE

$2,390

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 8.00%
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-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$6,829

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $2,573

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,3903$2,4504$2,7505$2,900
$2,900
RENT COMPS ANALYSIS
  • 413 Ashley Place Murphy, TX 2
    • 4 beds 4 baths ∙ 3,574 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,574 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $0.67
    •  
  • 6029 Hagerman Drive Plano, TX 1
    • 5 beds 4 baths ∙ 3,518 Sqft ∙ Built 2002 5 beds 4 baths ∙ 3,518 Sqft ∙ Built 2002
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.65
    •  
  • 306 Lakefield Drive Murphy, TX 3
    • 5 beds 3 baths ∙ 3,510 Sqft ∙ Built 2000 5 beds 3 baths ∙ 3,510 Sqft ∙ Built 2000
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.70
    •  
  • 5512 Sabetha Way Plano, TX 4
    • 5 beds 3 baths ∙ 3,765 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,765 Sqft ∙ Built 2002
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.73
    •  
  • 713 Finch Court Murphy, TX 5
    • 4 beds 4 baths ∙ 3,621 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,621 Sqft ∙ Built 2004
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.80
    •  
PROPERTY LISTING DETAILS
Colleen Frost
Colleen Frost Real Estate Serv
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469332
Last Updated: 11/14/2020
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