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421 Chambers Creek Drive Everman, TX 76140

3 Beds 2 Baths 1,409 sqft Built 1985

$171,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $121.36
  • 5 Days on Market
  • MLS # : 14460343
  • Updated Date : 11/07/2020 at 08:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,409 sqft
  • Baths : 2 full
Listing Agent

Seven6 Realty

Listing Agent's Description

MULTIPLE OFFERS!!! DEADLINE FOR OFFERS IS SUNDAY, NOVEMBER 8,2020 BY 9:00 AM! Nice 3 Bedroom 2 Bath home located in established neighborhood will make the perfect starter home! The open living area features a vaulted ceiling and opens into a dining area and kitchen. The room off the living area makes the perfect 4th bedroom or another living area. This space along with the large backyard makes this home great for entertaining. The large master bedroom includes two walk in closets and double sinks. The backyard also features a large 10x12 storage shed! Come and take a look and see what this home has to offer!!

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Chambers Creek

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $87k243k

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

Neighborhood: Chambers Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7831734

* 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
Townley Elementary School Primary Regular 494 28 6
Charles Baxter Junior High School Middle Regular 855 56 6
Everman Joe C. Bean High School High Regular 1,372 92 4

Townley Elementary School

  • Education Level: Primary
  • # of students: 494
  • # of teachers: 28
6
GreatSchools Rating

Charles Baxter Junior High School

  • Education Level: Middle
  • # of students: 855
  • # of teachers: 56
6
GreatSchools Rating

Everman Joe C. Bean High School

  • Education Level: High
  • # of students: 1,372
  • # of teachers: 92
4
GreatSchools Rating
 

$153,900$188,100$171,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$631
Property Tax -$456
Property Insurance -$109
Property Management Fees -$99
CASH FLOW
$55

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.

$171,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 12.9%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$51,065

INVESTMENT

$51,065

Down Payment
$42,750
Rehab Estimate
$5,750
Closing Costs
$2,565

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$631

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $42,750
Loan Amount $128,250
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$12,268

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,441

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3253$1,3294$1,3505$1,495
$1,495
RENT COMPS ANALYSIS
  • 421 Chambers Creek Drive Everman, TX 4
    • 3 beds 2 baths ∙ 1,409 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,409 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.96
    •  
  • 505 Chimney Rock Road Everman, TX 1
    • 3 beds 2 baths ∙ 1,114 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,114 Sqft ∙ Built 1983
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.12
    •  
  • 3705 Arnold Drive Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,299 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,299 Sqft ∙ Built 1979
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $1.02
    •  
  • 3713 Arnold Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,336 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,336 Sqft ∙ Built 1979
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,329
    • $0.99
    •  
  • 416 Colonial Place Everman, TX 5
    • 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1985
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.96
    •  
PROPERTY LISTING DETAILS
Brad Marshall
Seven6 Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14460343
Last Updated: 11/07/2020
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