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437 Heritage Drive Crowley, TX 76036

4 Beds 3 Baths 2,166 sqft Built 2004

$245,900

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $113.53
  • 3 Days on Market
  • MLS # : 14529937
  • Updated Date : 03/12/2021 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,166 sqft
  • Baths : 2 full , 1 half
Listing Agent

The Michael Group Real Estate

Listing Agent's Description

Start your heritage on Heritage Drive! This move in ready Crowley home is minutes from I35W, Burleson shopping, and Huguley Hospital. Property sits on a corner lot at the end of the road of Centennial Subdivision. Enjoy a big master with walk-in closet that sits on the first floor. There will be no elbow touching in this spacious kitchen, plus a walk-in pantry in the utility next to it . Move on upstairs to 3 bedrooms, a bathroom, and a humongous entertainment area. 2nd floor also has a linen and storage area. New flooring and vinyl plank throughout. Finally relax and cookout in your own backyard patio deck. Don't wait, schedule a showing today!

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: 76036

ZipNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240kPrice in $122k243k

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

Zip Code: 76036

ZipNIR Market*CityMarket2010Year20002019 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
Sidney H. Poynter Elementary School Primary Regular 532 32 3
Crowley High School High Regular 2,033 150 4
Crowley High School High Unknown NA

Sidney H. Poynter Elementary School

  • Education Level: Primary
  • # of students: 532
  • # of teachers: 32
3
GreatSchools Rating

Crowley High School

  • Education Level: High
  • # of students: 2,033
  • # of teachers: 150
4
GreatSchools Rating

Crowley High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$221,310$270,490$245,900

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$854
Property Tax -$609
Property Insurance -$152
HOA -$12
Property Management Fees -$99
CASH FLOW
-$127

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.

$245,900

PROJECTED PRICE

$1,600

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,914

INVESTMENT

$70,914

Down Payment
$61,475
Rehab Estimate
$5,750
Closing Costs
$3,689

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$854

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,475
Loan Amount $184,425
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$2,659

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,706

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6003$1,6454$1,6505$1,795
$1,795
RENT COMPS ANALYSIS
  • 437 Heritage Drive Crowley, TX 2
    • 4 beds 3 baths ∙ 2,166 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,166 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.74
    •  
  • 317 Heritage Drive Crowley, TX 1
    • 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 2004
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.76
    •  
  • 937 Mesa Vista Drive Crowley, TX 3
    • 4 beds 2 baths ∙ 2,130 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,130 Sqft ∙ Built 2006
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.77
    •  
  • 548 Hertford Street Fort Worth, TX 4
    • 3 beds 3 baths ∙ 2,142 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,142 Sqft ∙ Built 2001
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.77
    •  
  • 12516 Patnoe Drive Fort Worth, TX 5
    • 4 beds 2 baths ∙ 2,123 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,123 Sqft ∙ Built 2007
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.85
    •  
PROPERTY LISTING DETAILS
Anthony Martinez
The Michael Group Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14529937
Last Updated: 03/12/2021
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