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433 Prairie Run Aledo, TX 76008

4 Beds 3 Baths 2,904 sqft Built 2014

$494,990

List Price

$2,900

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $170.45
  • 4 Days on Market
  • MLS # : 14495679
  • Updated Date : 01/07/2021 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,904 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berkshire Hathawayhs Acr

Listing Agent's Description

With a dream backyard hangout area and a spacious, open floor plan, this gorgeous 4 bed, 2.5 bath home has it all! Tucked inside highly sought-after Parks of Aledo, come home to this beautiful traditional build boasting an extended covered back patio that overlooks a sparkling pool, complete with decking and luscious landscaping. This house offers an open living concept, a dining and an oversized game room . New AC unit in 2020 and designer lighting. The Parks of Aledo neighborhood features park space, hike & bike trails, a dog park and more - all in Aledo ISD and a short walk from Aledo High School.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
 

$445,491$544,489$494,990

PURCHASE PRICE

$2,610$3,190$2,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,900
EXPENSES Loan Payment -$1,719
Property Tax -$1,109
Property Insurance -$195
HOA -$54
Property Management Fees -$99
CASH FLOW
-$276

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.

$494,990

PROJECTED PRICE

$2,900

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

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-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$136,922

INVESTMENT

$136,922

Down Payment
$123,748
Rehab Estimate
$5,750
Closing Costs
$7,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,719

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $123,748
Loan Amount $371,243
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$4,875

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,900

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,715

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5003$2,5504$2,9005$2,975
$2,975
RENT COMPS ANALYSIS
  • 433 Prairie Run Aledo, TX 4
    • 4 beds 3 baths ∙ 2,904 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,904 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.00
    •  
  • 713 Westgate Drive Aledo, TX 1
    • 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 2015
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.98
    •  
  • 172 Meadow Park Drive Aledo, TX 2
    • 4 beds 2 baths ∙ 2,878 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,878 Sqft ∙ Built 2002
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.87
    •  
  • 208 Welch Folly Lane Aledo, TX 3
    • 4 beds 3 baths ∙ 2,661 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,661 Sqft ∙ Built 2018
    LEASED 11/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.96
    •  
  • 708 Paintbrush Court Aledo, TX 5
    • 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
    •  
PROPERTY LISTING DETAILS
Aleshia Howe
Berkshire Hathawayhs Acr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14495679
Last Updated: 01/07/2021
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