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448 Hight Road Waxahachie, TX 75167

4 Beds 4 Baths 1,988 sqft Built 1998

$225,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $113.18
  • 5 Days on Market
  • MLS # : 14514257
  • Updated Date : 02/11/2021 at 20:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,988 sqft
  • Baths : 3 full , 1 half
Listing Agent

Jbre Group

Listing Agent's Description

MULTIPLE OFFERS RECEIVED! HIGHEST & BEST OFFER DEADLINE IS TOMORROW, FEBRUARY 12th at 5pm! Beautiful and updated four bed, three and a half bath home located on a full acre in Waxahachie! Interior features an open floorplan with fresh paint, lots of natural lighting, and new flooring throughout, vaulted ceilings, lovely kitchen with tons of beautiful cabinetry, island, and gorgeous countertops. Large master suite includes dual sinks with a separate glass shower enclosure. Exterior features include a huge fully fenced backyard with a custom built deck, and tons of room for entertaining! Also, located outside of city limits on a corner lot! Come see this one today!

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

Neighborhood: Five Points Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $96k243k

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

Neighborhood: Five Points Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600170018001900Rent in $7941908

* 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
Dunaway Elementary School Primary Regular 551 37 7
Finley Junior High School Middle Regular 882 64 5
Waxahachie High School High Regular 1,985 138 4

Dunaway Elementary School

  • Education Level: Primary
  • # of students: 551
  • # of teachers: 37
7
GreatSchools Rating

Finley Junior High School

  • Education Level: Middle
  • # of students: 882
  • # of teachers: 64
5
GreatSchools Rating

Waxahachie High School

  • Education Level: High
  • # of students: 1,985
  • # of teachers: 138
4
GreatSchools Rating
 

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

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$782
Property Tax -$376
Property Insurance -$142
Property Management Fees -$99
CASH FLOW
$351

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

$1,750

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.1%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$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 30% down payment or higher enables the proceeds from the asset to cover all costs.

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

12.33

YEARS SAVED

$42,980

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,028

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,7503$1,8954$2,400
$2,400
RENT COMPS ANALYSIS
  • 448 Hight Road Waxahachie, TX 2
    • 4 beds 4 baths ∙ 1,988 Sqft ∙ Built 1998 4 beds 4 baths ∙ 1,988 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.88
    •  
  • 320 Windmill Court Waxahachie, TX 1
    • 4 beds 2 baths ∙ 1,659 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,659 Sqft ∙ Built 2015
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.95
    •  
  • 365 Windmill Court Waxahachie, TX 3
    • 4 beds 2 baths ∙ 2,051 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,051 Sqft ∙ Built 2015
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.92
    •  
  • 620 Higgins Road Waxahachie, TX 4
    • 3 beds 2 baths ∙ 2,014 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,014 Sqft ∙ Built 2005
    LEASED 08/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.19
    •  
PROPERTY LISTING DETAILS
John Busch
Jbre Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14514257
Last Updated: 02/11/2021
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