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424 Strait Lane Waxahachie, TX 75165

3 Beds 3 Baths 2,622 sqft Built 2020

INVESTimate

$357,701

List Price

$2,050

$1,845 - $2,255

Rent Est.

$390,073  ( +9.05%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $136.42
  • 8 Days on Market
  • MLS # : 14416477
  • Updated Date : 08/19/2020 at 18:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,622 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14416477 - Built by Antares Homes - November completion! ~ Just off the foyer, have gatherings in the dining room or get work done in the separate study. The kitchen has a wrap-around breakfast bar, gorgeous subway tile backsplash, single smart wall oven with touch screen, gas cooktop with removable hinged cast-iron grates, and wood floors. The breakfast nook has access to the large covered patio. In the family room is a floor-to-ceiling stone corner fireplace. The master bathroom features twin vanities, large garden tub, separate walk-in shower, and a spacious walk-in closet. Two additional bedrooms have access to a full bathroom with a dual sink vanity, powder room, and large utility room.

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: 75165

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $112k243k

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

Zip Code: 75165

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9841734

* 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
Felty Elementary School Primary Regular 521 33 8
Howard Junior High School Middle Regular 857 62 6
Waxahachie High School High Regular 1,985 138 4

Felty Elementary School

  • Education Level: Primary
  • # of students: 521
  • # of teachers: 33
8
GreatSchools Rating

Howard Junior High School

  • Education Level: Middle
  • # of students: 857
  • # of teachers: 62
6
GreatSchools Rating

Waxahachie High School

  • Education Level: High
  • # of students: 1,985
  • # of teachers: 138
4
GreatSchools Rating
 

$321,931$393,471$357,701

PURCHASE PRICE

$1,845$2,255$2,050

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,320
Property Tax -$776
Property Insurance -$179
HOA -$33
Property Management Fees -$99
CASH FLOW
-$357

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.

$357,701

PROJECTED PRICE

$2,050

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.05%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$96,791

INVESTMENT

$96,791

Down Payment
$89,425
Rehab Estimate
$2,000
Closing Costs
$5,366

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,425
Loan Amount $268,276
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$875

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,091

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8503$2,0504$2,0955$2,145
$2,145
RENT COMPS ANALYSIS
  • 424 Strait Lane Waxahachie, TX 3
    • 3 beds 3 baths ∙ 2,622 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,622 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.78
    •  
  • 1581 Wildflower Drive Waxahachie, TX 1
    • 4 beds 3 baths ∙ 2,312 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,312 Sqft ∙ Built 2002
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.76
    •  
  • 207 Silver Spur Drive Waxahachie, TX 2
    • 4 beds 3 baths ∙ 2,324 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,324 Sqft ∙ Built 2007
    property image
    LEASED 02/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.80
    •  
  • 104 Sports Row Waxahachie, TX 4
    • 3 beds 2 baths ∙ 2,403 Sqft ∙ Built 2012 3 beds 2 baths ∙ 2,403 Sqft ∙ Built 2012
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.87
    •  
  • 215 Atlantic Avenue Waxahachie, TX 5
    • 4 beds 3 baths ∙ 2,812 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,812 Sqft ∙ Built 2009
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $0.76
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416477
Last Updated: 08/19/2020
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