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422 Prairie Run Aledo, TX 76008

4 Beds 4 Baths 3,075 sqft Built 2017

INVESTimate

$506,999

List Price

$2,690

$2,440 - $2,940

Rent Est.

$529,713  ( +4.48%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2017
  • Price/Sqft : $164.88
  • 10 Days on Market
  • MLS # : 14414779
  • Updated Date : 08/18/2020 at 07:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,075 sqft
  • Baths : 3 full , 1 half
Listing Agent

Jp And Associates Willow Park

Listing Agent's Description

Gorgeous home located in the Parks of Aledo. 4 bedrooms 3.1 baths and 2 living areas designed great for entertainment. Beautiful master suite and master bath with large walk in closets. Open concept kitchen with beautiful granite counters. Custom shutters and vaulted ceilings, large granite kitchen island, stainless steel appliances. Great shaded patio for entertaining with custom fire pit and built in BBQ grill complete with a refrigerator. Large Bonus room upstairs which would be great as a game or media room. Great location to Aledo high school and quick access to Interstate 20. Only minutes to Fort Worth.

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

Zip Code: 76008

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k393k

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

Zip Code: 76008

ZipNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262811

* 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
Coder Elementary School Primary Regular 425 27 7
Aledo Middle School Middle Regular 804 47 9
Aledo High School High Regular 1,193 72 7

Coder Elementary School

  • Education Level: Primary
  • # of students: 425
  • # of teachers: 27
7
GreatSchools Rating

Aledo Middle School

  • Education Level: Middle
  • # of students: 804
  • # of teachers: 47
9
GreatSchools Rating

Aledo High School

  • Education Level: High
  • # of students: 1,193
  • # of teachers: 72
7
GreatSchools Rating
 

$456,299$557,699$506,999

PURCHASE PRICE

$2,421$2,959$2,690

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,690
EXPENSES Loan Payment -$1,871
Property Tax -$1,136
Property Insurance -$205
HOA -$50
Property Management Fees -$99
CASH FLOW
-$670

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.

$506,999

PROJECTED PRICE

$2,690

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.48%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$140,105

INVESTMENT

$140,105

Down Payment
$126,750
Rehab Estimate
$5,750
Closing Costs
$7,605

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,871

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $126,750
Loan Amount $380,249
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$83

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,690

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,891

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,6903$2,9754$3,2005$3,350
$3,350
RENT COMPS ANALYSIS
  • 422 Prairie Run Aledo, TX 2
    • 4 beds 4 baths ∙ 3,075 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,075 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,690
    • $0.87
    •  
  • 417 Sagebrush Drive Aledo, TX 1
    • 4 beds 4 baths ∙ 3,016 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,016 Sqft ∙ Built 2016
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.88
    •  
  • 708 Paintbrush Court Aledo, TX 3
    • 5 beds 3 baths ∙ 3,187 Sqft ∙ Built 2017 5 beds 3 baths ∙ 3,187 Sqft ∙ Built 2017
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,975
    • $0.93
    •  
  • 409 Prairie Run Aledo, TX 4
    • 4 beds 4 baths ∙ 3,316 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,316 Sqft ∙ Built 2014
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.97
    •  
  • 135 Crooked Stick Lane Aledo, TX 5
    • 4 beds 4 baths ∙ 3,417 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,417 Sqft ∙ Built 2006
    LEASED 03/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $0.98
    •  
PROPERTY LISTING DETAILS
Joe Potts
Jp And Associates Willow Park
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14414779
Last Updated: 08/18/2020
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