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4321 Cardinal Drive Sherman, TX 75092

3 Beds 2 Baths 1,871 sqft Built 2003

INVESTimate

$225,000

List Price

$1,400

$1,260 - $1,540

Rent Est.

$238,725  ( +6.10%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $120.26
  • 3 Days on Market
  • MLS # : 14419292
  • Updated Date : 08/25/2020 at 14:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,871 sqft
  • Baths : 2 full
Listing Agent

Keller Williams North Country

Listing Agent's Description

Oversized corner lot in the Country Ridge Estates subdivision. This meticulously kept home features 3 bedrooms and 2 baths. Upon entering you'll find a large living area, guest bath, and large bedrooms with walk in closets. Open-concept kitchen features, granite counter-tops, large island and plenty of cabinet space. Off the kitchen you'll find a spacious family room with gas fireplace, spacious master with ensuite with garden tub, walk in closet. Enjoy entertaining in this inviting fenced-in back yard with large custom covered patio and workshop. Fridge is included! Move in ready! Community Pool & Brand new complete HVAC system.

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

Zip Code: 75092

ZipNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150k160k170k180k190kPrice in $60k199k

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

Zip Code: 75092

No Data Available.

* 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
Sory Elementary School Primary Regular 593 41 7
Dillingham Intermediate School Middle Regular 1,036 76 4
Sherman High School High Regular 1,780 119 5

Sory Elementary School

  • Education Level: Primary
  • # of students: 593
  • # of teachers: 41
7
GreatSchools Rating

Dillingham Intermediate School

  • Education Level: Middle
  • # of students: 1,036
  • # of teachers: 76
4
GreatSchools Rating

Sherman High School

  • Education Level: High
  • # of students: 1,780
  • # of teachers: 119
5
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$830
Property Tax -$516
Property Insurance -$129
HOA -$24
Property Management Fees -$99
CASH FLOW
-$198

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.

$225,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 6.10%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$228

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,567

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4953$1,5504$1,5505$1,595
$1,595
RENT COMPS ANALYSIS
  • 4321 Cardinal Drive Sherman, TX 1
    • 3 beds 2 baths ∙ 1,871 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,871 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.75
    •  
  • 1301 Mallard Drive Sherman, TX 2
    • 4 beds 2 baths ∙ 1,759 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,759 Sqft ∙ Built 2002
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.85
    •  
  • 4313 Falcon Drive Sherman, TX 3
    • 4 beds 3 baths ∙ 1,885 Sqft ∙ Built 2002 4 beds 3 baths ∙ 1,885 Sqft ∙ Built 2002
    LEASED 09/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.82
    •  
  • 4519 Falcon Drive Sherman, TX 4
    • 3 beds 3 baths ∙ 1,848 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,848 Sqft ∙ Built 2005
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.84
    •  
  • 921 Swan Ridge Drive Sherman, TX 5
    • 4 beds 3 baths ∙ 1,894 Sqft ∙ Built 2016 4 beds 3 baths ∙ 1,894 Sqft ∙ Built 2016
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.84
    •  
PROPERTY LISTING DETAILS
Christopher Baker
Keller Williams North Country
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419292
Last Updated: 08/25/2020
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