Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

415 N Montague Street Pilot Point, TX 76258

3 Beds 2 Baths 1,454 sqft Built 2019

$280,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $192.57
  • 3 Days on Market
  • MLS # : 14504416
  • Updated Date : 01/22/2021 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,454 sqft
  • Baths : 2 full
Listing Agent

Innovative Realty

Listing Agent's Description

Unique home to this neighborhood, Built in 2019 this 3-2-2 sits on a big corner lot (facing Montague St). No HOA! Foam insulation throughout! Low electric bills. Low E windows, island kitchen, separate tub, and a shower in the master. Split bedrooms. Stainless appliances, granite counters, wood floors and designer lighting make this home feel warm and cozy!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Zip Code: 76258

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240kPrice in $102k249k

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

Zip Code: 76258

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9611734

* 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
Pilot Point Intermediate School Primary Regular 407 30 4
Pilot Point Middle School Middle Regular 232 20 6
Pilot Point High School High Regular 430 32 6

Pilot Point Intermediate School

  • Education Level: Primary
  • # of students: 407
  • # of teachers: 30
4
GreatSchools Rating

Pilot Point Middle School

  • Education Level: Middle
  • # of students: 232
  • # of teachers: 20
6
GreatSchools Rating

Pilot Point High School

  • Education Level: High
  • # of students: 430
  • # of teachers: 32
6
GreatSchools Rating
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$973
Property Tax -$500
Property Insurance -$111
Property Management Fees -$99
CASH FLOW
$67

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.

$280,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

5.92

YEARS SAVED

$18,818

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $1,748

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6503$1,7504$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 415 N Montague Street Pilot Point, TX 4
    • 3 beds 2 baths ∙ 1,454 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,454 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.20
    •  
  • 515 E Liberty Street Pilot Point, TX 1
    • 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 2009
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.21
    •  
  • 515 W Broad Street Pilot Point, TX 2
    • 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 2019
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.19
    •  
  • 808 E Northside Drive Pilot Point, TX 3
    • 3 beds 2 baths ∙ 1,419 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,419 Sqft ∙ Built 2017
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.23
    •  
  • 113 Ken's Court Pilot Point, TX 5
    • 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 2019
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.18
    •  
PROPERTY LISTING DETAILS
Andy Feekes
Innovative Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504416
Last Updated: 01/22/2021
BESbswy