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432 Hilltop Drive Decatur, TX 76234

3 Beds 2 Baths 1,880 sqft Built 1980

INVESTimate

$375,000

List Price

$1,450

$1,305 - $1,595

Rent Est.

$403,575  ( +7.62%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $199.47
  • 8 Days on Market
  • MLS # : 14416915
  • Updated Date : 08/20/2020 at 19:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,880 sqft
  • Baths : 2 full
Listing Agent

Clearfork Group Realty

Listing Agent's Description

Older home that was remodeled in 2015. This property features 5 beautiful acres with mature oaks trees, creek, partial pipe fencing, 8 stall barn with tack room. Bring your horses, plenty of room. This home was taken down to the studs, rewired, sheetrocked, installed new cabinets, appliance, countertops, roof, etc. A little TLC on the property and this would be a showplace.

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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: 76234

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $96k243k

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

Zip Code: 76234

ZipNIR Market*Market2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* 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
Boyd Elementary School Primary Regular 386 25 9
Boyd Middle School Middle Regular 162 14 6
Boyd High School High Regular 346 30 5

Boyd Elementary School

  • Education Level: Primary
  • # of students: 386
  • # of teachers: 25
9
GreatSchools Rating

Boyd Middle School

  • Education Level: Middle
  • # of students: 162
  • # of teachers: 14
6
GreatSchools Rating

Boyd High School

  • Education Level: High
  • # of students: 346
  • # of teachers: 30
5
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,305$1,595$1,450

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

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 $1,450
EXPENSES Loan Payment -$1,384
Property Tax -$537
Property Insurance -$136
Property Management Fees -$99
CASH FLOW
-$705

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$375,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.62%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

$2

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,448

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,450
$1,450
RENT COMPS ANALYSIS
  • 432 Hilltop Drive Decatur, TX 2
    • 3 beds 2 baths ∙ 1,880 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,880 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.77
    •  
  • 306 Pr 4382 Decatur, TX 1
    • 3 beds 2 baths ∙ 1,883 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,883 Sqft ∙ Built 1980
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.77
    •  
PROPERTY LISTING DETAILS
Sandy Lambert
Clearfork Group Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416915
Last Updated: 08/20/2020
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