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417 Seleta Drive Murphy, TX 75094

4 Beds 3 Baths 2,913 sqft Built 2001

$385,000

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $132.17
  • 4 Days on Market
  • MLS # : 14517163
  • Updated Date : 02/18/2021 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,913 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jay Marks Real Estate

Listing Agent's Description

Welcome home! This wonderful four-bedroom home situated in a quiet neighborhood is exactly what you are looking for! You are welcomed into the home by the formal living and dining areas into an open kitchen and living floor plan. The living room has surround sound speakers and tall ceilings. It is literally perfect for entertaining and fun! The Master bedroom with ensuite bath is separated from the secondary rooms. Upstairs is a media room and game room combo with a half bath. The backyard offers an open patio and a large yard. This home is the full package!

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: 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
 

$346,500$423,500$385,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,337
Property Tax -$670
Property Insurance -$196
HOA -$42
Property Management Fees -$99
CASH FLOW
-$163

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.

$385,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.57%

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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,337

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$7,106

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,338

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,1503$2,1804$2,2505$2,450
$2,450
RENT COMPS ANALYSIS
  • 417 Seleta Drive Murphy, TX 3
    • 4 beds 3 baths ∙ 2,913 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,913 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.75
    •  
  • 5813 Mulvane Drive Plano, TX 1
    • 5 beds 3 baths ∙ 2,857 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,857 Sqft ∙ Built 2001
    property image
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.75
    •  
  • 5628 Seneca Drive Plano, TX 2
    • 4 beds 2 baths ∙ 2,718 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,718 Sqft ∙ Built 2002
    property image
    LEASED 02/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.79
    •  
  • 463 Lakehurst Drive Murphy, TX 4
    • 4 beds 3 baths ∙ 2,716 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,716 Sqft ∙ Built 2000
    property image
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.83
    •  
  • 1024 Rochester Way Plano, TX 5
    • 4 beds 3 baths ∙ 2,902 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,902 Sqft ∙ Built 2001
    property image
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.84
    •  
PROPERTY LISTING DETAILS
Jay Marks
Jay Marks Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14517163
Last Updated: 02/18/2021
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