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4505 Blue Jay Lane Sherman, TX 75092

3 Beds 2 Baths 1,435 sqft Built 2005

$190,000

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $132.40
  • 3 Days on Market
  • MLS # : 14540752
  • Updated Date : 03/27/2021 at 08:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,435 sqft
  • Baths : 2 full
Listing Agent

Re/max Prestige

Listing Agent's Description

This home has been well looked after and is ready for it's new owner. Perfect layout with master split from secondary bedrooms. Open living room and kitchen with access to backyard. Kitchen has been updated with new cabinets, lighting and butcher block counter tops. Living room fireplace gives a modern focal point and is ideal for those cold winter evenings. Other updates include, bathroom cabinets, carpet in bedrooms, laundry room cabinets, kitchen appliances, solar screens, patio doors, recessed lighting. Water heater and AC unit have recently been replaced The deck is covered for a perfect place to sit and enjoy or entertain. The back yard is spacious and includes raised beds for your vegetable garden.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Zip Code: 75092

ZipNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150k160k170k180k190kPrice in $60k199k

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

Zip Code: 75092

No Data Available.

* 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
Sory Elementary School Primary Regular 593 41 7
Piner Middle School Middle Regular 1,004 65 4
Sherman High School High Regular 1,780 119 5

Sory Elementary School

  • Education Level: Primary
  • # of students: 593
  • # of teachers: 41
7
GreatSchools Rating

Piner Middle School

  • Education Level: Middle
  • # of students: 1,004
  • # of teachers: 65
4
GreatSchools Rating

Sherman High School

  • Education Level: High
  • # of students: 1,780
  • # of teachers: 119
5
GreatSchools Rating
 

$171,000$209,000$190,000

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$660
Property Tax -$436
Property Insurance -$105
HOA -$27
Property Management Fees -$99
CASH FLOW
-$56

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.

$190,000

PROJECTED PRICE

$1,270

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

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$3.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,100

INVESTMENT

$56,100

Down Payment
$47,500
Rehab Estimate
$5,750
Closing Costs
$2,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$660

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $47,500
Loan Amount $142,500
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$1,918

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,381

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,270
1$1,2702$1,3953$1,4004$1,4505$1,450
$1,450
RENT COMPS ANALYSIS
  • 4505 Blue Jay Lane Sherman, TX 1
    • 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $0.89
    •  
  • 4510 Quail Run Road Sherman, TX 2
    • 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 2007
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.99
    •  
  • 1411 Swan Ridge Drive Sherman, TX 3
    • 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 2015
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.91
    •  
  • 1116 Pintail Sherman, TX 4
    • 3 beds 2 baths ∙ 1,429 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,429 Sqft ∙ Built 2006
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.01
    •  
  • 1305 Swan Ridge Drive Sherman, TX 5
    • 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 2016
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.94
    •  
PROPERTY LISTING DETAILS
Sue Riley
Re/max Prestige
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14540752
Last Updated: 03/27/2021
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