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421 Highmeadow Drive Aubrey, TX 76227

3 Beds 2 Baths 1,665 sqft Built 2019

INVESTimate

$250,000

List Price

$1,700

$1,530 - $1,870

Rent Est.

$263,400  ( +5.36%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2019
  • Price/Sqft : $150.15
  • 4 Days on Market
  • MLS # : 14419243
  • Updated Date : 08/23/2020 at 18:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,665 sqft
  • Baths : 2 full
Listing Agent

Century 21 Judge Fite Co.

Listing Agent's Description

Like new home built in 2019! This immaculate home contains three bedrooms, two baths, a study, and two car garage. Also included is granite counters, and stainless appliances in the kitchen. This home has an extended patio which is plenty big for a large table and grilling outside. You will also find a 10X10 lofted shed in the massive back yard and an automatic sprinkler system. No HOA, no MUD, no PID. Low tax rate! SELLER MOTIVATED for quick closing!

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: Highmeadow Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $99k260k

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

Neighborhood: Highmeadow Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10381829

* 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
Brockett Elementary School Primary Regular 500 30 7
Aubrey Middle School Middle Regular 484 29 7
Aubrey High School High Regular 585 36 6

Brockett Elementary School

  • Education Level: Primary
  • # of students: 500
  • # of teachers: 30
7
GreatSchools Rating

Aubrey Middle School

  • Education Level: Middle
  • # of students: 484
  • # of teachers: 29
7
GreatSchools Rating

Aubrey High School

  • Education Level: High
  • # of students: 585
  • # of teachers: 36
6
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$922
Property Tax -$491
Property Insurance -$123
Property Management Fees -$99
CASH FLOW
$65

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$250,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.36%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,250

INVESTMENT

$68,250

Down Payment
$62,500
Rehab Estimate
$2,000
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$20,331

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,757

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6883$1,7004$1,7505$1,775
$1,775
RENT COMPS ANALYSIS
  • 421 Highmeadow Drive Aubrey, TX 3
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.03
    •  
  • 3005 Glenwood Court Aubrey, TX 1
    • 4 beds 2 baths ∙ 1,558 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,558 Sqft ∙ Built 2006
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.02
    •  
  • 1560 Alamandine Avenue Cross Roads, TX 2
    • 4 beds 2 baths ∙ 1,578 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,578 Sqft ∙ Built 2018
    property image
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,688
    • $1.07
    •  
  • 325 Highmeadow Aubrey, TX 4
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2020
    property image
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.06
    •  
  • 305 Glenview Drive Aubrey, TX 5
    • 4 beds 2 baths ∙ 1,603 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,603 Sqft ∙ Built 2006
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.11
    •  
PROPERTY LISTING DETAILS
Brandon Kennedy
Century 21 Judge Fite Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419243
Last Updated: 08/23/2020
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