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415 S Hill Street Pilot Point, TX 76258

4 Beds 2 Baths 1,960 sqft Built 2008

$245,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $125.00
  • 3 Days on Market
  • MLS # : 14488324
  • Updated Date : 12/18/2020 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,960 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty, Llc

Listing Agent's Description

Wow! This 4 bedroom 2 bathroom custom ranch style home is situated on one of the most beautiful half acre lots in North Texas. Large mature trees and lush grass make this backyard a dream come true. Multiple driveways entering the backyard makes it perfect to store any size boat or RV with an additional storage and carport detached from the home. Step inside this home and you will first notice the designer touch painting, Highlighted by top of the Line Luxury wood laminate flooring. Multiple living rooms, And 4 King size bedrooms makes this home feel much bigger than advertised Sq Footage. Oversized kitchen is centrally located in the center of the home. 1 hour from anywhere in DFW.

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: 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
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$904
Property Tax -$437
Property Insurance -$140
Property Management Fees -$99
CASH FLOW
$269

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.

$245,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.76%

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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

10.25

YEARS SAVED

$42,103

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,999

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8503$1,8954$2,100
$2,100
RENT COMPS ANALYSIS
  • 415 S Hill Street Pilot Point, TX 2
    • 4 beds 2 baths ∙ 1,960 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,960 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.94
    •  
  • 601 Maple Drive Pilot Point, TX 1
    • 3 beds 2 baths ∙ 1,898 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,898 Sqft ∙ Built 2000
    LEASED 08/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.95
    •  
  • 121 Ken S Court Pilot Point, TX 3
    • 3 beds 2 baths ∙ 1,769 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,769 Sqft ∙ Built 2019
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.07
    •  
  • 1404 High Point Drive Pilot Point, TX 4
    • 3 beds 2 baths ∙ 2,012 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,012 Sqft ∙ Built 2003
    LEASED 07/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.04
    •  
PROPERTY LISTING DETAILS
Curtis Petersen
Fathom Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14488324
Last Updated: 12/18/2020
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