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438 Sabine Avenue Cleburne, TX 76031

3 Beds 2 Baths 1,276 sqft Built 2020

INVESTimate

$169,900

List Price

$1,070

$963 - $1,177

Rent Est.

$181,793  ( +7.00%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Built In 2020
  • Price/Sqft : $133.15
  • 9 Days on Market
  • MLS # : 14415679
  • Updated Date : 08/18/2020 at 11:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,276 sqft
  • Baths : 2 full
Listing Agent

Garza Group Custom Home R.e.

Listing Agent's Description

Brand new and energy efficient 3 bed, 2 bath and 1 car garage. This lot has a concrete driveway that you can park a RV on! This beautiful home features brand new stainless steel appliances , top of the line granite counter-tops that compliments the painted white oak cabinets. No expense has been spared, come check out this amazing floor plan. Also, providing a 2-10 Builders Warranty. Perfect for entertaining and having company over.

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: 76031

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 76031

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8731734

* 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
Santa Fe Elementary School Primary Regular 433 33 2
Smith Middle School Middle Regular 775 53 4
Cleburne High School High Regular 1,653 110 4

Santa Fe Elementary School

  • Education Level: Primary
  • # of students: 433
  • # of teachers: 33
2
GreatSchools Rating

Smith Middle School

  • Education Level: Middle
  • # of students: 775
  • # of teachers: 53
4
GreatSchools Rating

Cleburne High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 110
4
GreatSchools Rating
 

$152,910$186,890$169,900

PURCHASE PRICE

$963$1,177$1,070

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$3.0k-$2.0k-$1.0k$0.0$1.0k$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,070
EXPENSES Loan Payment -$627
Property Tax -$418
Property Insurance -$101
Property Management Fees -$99
CASH FLOW
-$175

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$169,900

PROJECTED PRICE

$1,070

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.00%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$47,024

INVESTMENT

$47,024

Down Payment
$42,475
Rehab Estimate
$2,000
Closing Costs
$2,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$627

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $42,475
Loan Amount $127,425
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$351

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,070

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,344

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,070
1$1,0702$1,1953$1,3794$1,550
$1,550
RENT COMPS ANALYSIS
  • 438 Sabine Avenue Cleburne, TX 1
    • 3 beds 2 baths ∙ 1,276 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,276 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,070
    • $0.84
    •  
  • 207 Robbins Street Cleburne, TX 2
    • 3 beds 2 baths ∙ 1,090 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,090 Sqft ∙ Built 2020
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $1.10
    •  
  • 307 Boyd Street Cleburne, TX 3
    • 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 2005
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,379
    • $1.00
    •  
  • 216 Lovelady Cleburne, TX 4
    • 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 2020
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.06
    •  
PROPERTY LISTING DETAILS
Colby Garza
Garza Group Custom Home R.e.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415679
Last Updated: 08/18/2020
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