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417 Odell Street Cleburne, TX 76033

3 Beds 2 Baths 1,394 sqft Built 1985

$215,000

List Price

$1,220

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $154.23
  • 3 Days on Market
  • MLS # : 14522440
  • Updated Date : 03/12/2021 at 13:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,394 sqft
  • Baths : 2 full
Listing Agent

Webb Kirkpatrick Real Estate, Inc

Listing Agent's Description

This cozy three bedroom two bath home is move in ready! This home has been recently updated and features fresh granite counter tops throughout the home, appliances, paint, flooring, fixtures, gutters, solar screens, as well as a wood privacy fence. This home also features a second living area that could be used as a home office, study, kids play room...etc This open concept plan makes entertaining endless!

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: Preston Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Preston Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9011734

* 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
Irving Elementary School Primary Regular 502 33 3
Wheat Middle School Middle Regular 701 52 4
Cleburne High School High Regular 1,653 110 4

Irving Elementary School

  • Education Level: Primary
  • # of students: 502
  • # of teachers: 33
3
GreatSchools Rating

Wheat Middle School

  • Education Level: Middle
  • # of students: 701
  • # of teachers: 52
4
GreatSchools Rating

Cleburne High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 110
4
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,098$1,342$1,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,220
EXPENSES Loan Payment -$747
Property Tax -$529
Property Insurance -$108
Property Management Fees -$99
CASH FLOW
-$263

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.

$215,000

PROJECTED PRICE

$1,220

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$5.0k-$4.0k-$3.0k-$2.0k-$1.0k$0.0$1.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$40

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,220

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,348

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2203$1,5004$1,500
$1,500
RENT COMPS ANALYSIS
  • 417 Odell Street Cleburne, TX 2
    • 3 beds 2 baths ∙ 1,394 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,394 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,220
    • $0.88
    •  
  • 802 N Walnut Street Cleburne, TX 1
    • 3 beds 2 baths ∙ 1,204 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,204 Sqft ∙ Built 2003
    property image
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.00
    •  
  • 1901 Starling Court Cleburne, TX 3
    • 3 beds 3 baths ∙ 1,514 Sqft ∙ Built 1979 3 beds 3 baths ∙ 1,514 Sqft ∙ Built 1979
    property image
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.99
    •  
  • 303 Preston Drive Cleburne, TX 4
    • 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 2001
    property image
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.91
    •  
PROPERTY LISTING DETAILS
Preston Kelley
Webb Kirkpatrick Real Estate, Inc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14522440
Last Updated: 03/12/2021
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