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444 Chestnut Lane Roanoke, TX 76262

4 Beds 4 Baths 2,913 sqft Built 2014

$440,000

List Price

$2,870

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $151.05
  • 3 Days on Market
  • MLS # : 14472770
  • Updated Date : 11/20/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,913 sqft
  • Baths : 3 full , 1 half
Listing Agent

Jp And Associates Southlake

Listing Agent's Description

OPEN HOUSE, Saturday, November 21st 1-3. STUNNING home in a quaint, gated community in Roanoke, TX. The open-concept floor plan combined with low-maintenance, turf-grass backyard provides for an easy lifestyle. Kitchen offers over-sized island, SS appliances with gas cooktop, sliding cabinet organizers and generous pantry. Spacious primary bedroom with luxurious bath is the perfect retreat. Flex room downstairs features exterior french doors and is perfect as a study, dining room or cocktail room. Large game room, 3 bedrooms and 2 full baths are upstairs. Home has many upgrades including window shutters, mosquito mist system, custom closet and garage storage. Easy access to schools, trails, shopping & dining.

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: 76262

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k430k

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

Zip Code: 76262

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262792

* 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
Samuel Beck Elementary School Primary Regular 731 47 10
Medlin Middle School Middle Regular 1,078 65 8

Samuel Beck Elementary School

  • Education Level: Primary
  • # of students: 731
  • # of teachers: 47
10
GreatSchools Rating

Medlin Middle School

  • Education Level: Middle
  • # of students: 1,078
  • # of teachers: 65
8
GreatSchools Rating
 

$396,000$484,000$440,000

PURCHASE PRICE

$2,583$3,157$2,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,870
EXPENSES Loan Payment -$1,623
Property Tax -$767
Property Insurance -$196
HOA -$79
Property Management Fees -$99
CASH FLOW
$106

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.

$440,000

PROJECTED PRICE

$2,870

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.4%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

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$122,350

INVESTMENT

$122,350

Down Payment
$110,000
Rehab Estimate
$5,750
Closing Costs
$6,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,623

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $110,000
Loan Amount $330,000
See What Happens When You Reinvest Cash Flow

5.83

YEARS SAVED

$34,781

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,870

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $3,015

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,8003$2,8704$2,9505$3,199
$3,199
RENT COMPS ANALYSIS
  • 444 Chestnut Lane Roanoke, TX 3
    • 4 beds 4 baths ∙ 2,913 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,913 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,870
    • $0.99
    •  
  • 2541 Rose Bay Court Trophy Club, TX 1
    • 3 beds 4 baths ∙ 2,601 Sqft ∙ Built 2012 3 beds 4 baths ∙ 2,601 Sqft ∙ Built 2012
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.04
    •  
  • 1398 Caspian Drive Roanoke, TX 2
    • 4 beds 4 baths ∙ 2,893 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,893 Sqft ∙ Built 2014
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.97
    •  
  • 421 Middleton Drive Roanoke, TX 4
    • 5 beds 4 baths ∙ 2,836 Sqft ∙ Built 2015 5 beds 4 baths ∙ 2,836 Sqft ∙ Built 2015
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.04
    •  
  • 2623 Kingsford Lane Trophy Club, TX 5
    • 3 beds 2 baths ∙ 2,922 Sqft ∙ Built 2011 3 beds 2 baths ∙ 2,922 Sqft ∙ Built 2011
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,199
    • $1.09
    •  
PROPERTY LISTING DETAILS
Renee Pellet
Jp And Associates Southlake
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14472770
Last Updated: 11/20/2020
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