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415 Silver Mine Drive Justin, TX 76247

3 Beds 2 Baths 2,181 sqft Built 2016

$310,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $142.14
  • 7 Days on Market
  • MLS # : 14507322
  • Updated Date : 02/01/2021 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,181 sqft
  • Baths : 2 full
Listing Agent

Fraser Realty

Listing Agent's Description

2016 built - Gorgeous 1 story property in fantastic Northwest ISD neighborhood! This spacious home has 3 large bedrooms, abundant storage and tons of upgrades. Wood Look tile throughout makes for easy maintenance, granite c-tops and custom cabinetry elevates this open floor plan. Entertain in the great room-kitchen-no fussy dining space. Office area is perfect for working at home with built ins. Owners suite has spa like shower and tub, double vanities, custom cabinets, and walk through closet to laundry. Screened in porch & separate pergola for entertaining. $0 electricity bill in this home as Solar panels are owned and convey with property, extra storage building on concrete pad.

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

Neighborhood: Reatta Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Reatta Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10532171

* 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
Justin Elementary School Primary Regular 506 33 5
Gene Pike Middle School Middle Regular 743 53 7
Northwest High School High Regular 2,793 170 6

Justin Elementary School

  • Education Level: Primary
  • # of students: 506
  • # of teachers: 33
5
GreatSchools Rating

Gene Pike Middle School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 53
7
GreatSchools Rating

Northwest High School

  • Education Level: High
  • # of students: 2,793
  • # of teachers: 170
6
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,077
Property Tax -$646
Property Insurance -$153
HOA -$25
Property Management Fees -$99
CASH FLOW
-$190

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.

$310,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.5%
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

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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$2,822

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,832

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,8003$1,8104$1,8505$1,900
$1,900
RENT COMPS ANALYSIS
  • 415 Silver Mine Drive Justin, TX 3
    • 3 beds 2 baths ∙ 2,181 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,181 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.83
    •  
  • 210 Cedar Crest Drive Justin, TX 1
    • 3 beds 3 baths ∙ 2,206 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,206 Sqft ∙ Built 2004
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.78
    •  
  • 105 Chinos Trail Justin, TX 2
    • 3 beds 3 baths ∙ 2,107 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,107 Sqft ∙ Built 2002
    LEASED 08/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.85
    •  
  • 433 Chisholm Trail Justin, TX 4
    • 4 beds 2 baths ∙ 2,236 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,236 Sqft ∙ Built 2008
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.83
    •  
  • 228 Cedar Crest Drive Justin, TX 5
    • 4 beds 2 baths ∙ 2,108 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,108 Sqft ∙ Built 2007
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.90
    •  
PROPERTY LISTING DETAILS
Tessa Samarripas
Fraser Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14507322
Last Updated: 02/01/2021
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