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4517 Spencer Street Greenville, TX 75401

4 Beds 2 Baths 1,545 sqft Built 2021

$193,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $124.92
  • 4 Days on Market
  • MLS # : 14512351
  • Updated Date : 02/04/2021 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,545 sqft
  • Baths : 2 full
Listing Agent

The Michael Group

Listing Agent's Description

*MULTIPLE OFFER SITUATION* Submit offers by Monday Feb 8th, 1:00 PM. This is a BRAND NEW and MODERN CONTRUCTION with an open floor plan. Corner lot, it has 3 bedrooms and an additional room to be used as guest room or home office. 10 Foot Ceilings throughout the house, Electric Fireplace, quartz counter tops, custom built cabinets, tile and Luxury Water Proof Vinyl Flooring. Decorative lighting and luxury pendant lights. Large kitchen peninsula. Master Bedroom has Shower Tower with decorative accents and spacious walking closet. Tankless Water Heater. Stainless steel Barn Door rails, Crown molding . Exterior brick spot lights. Realtor must attend showings. Information deemed reliable, but not guaranteed.

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: 75401

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $67k243k

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

Zip Code: 75401

ZipNIR Market*Market2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
6th Grade Center Middle Regular 318 25 3
Greenville High School High Regular 1,077 89 5

6th Grade Center

  • Education Level: Middle
  • # of students: 318
  • # of teachers: 25
3
GreatSchools Rating

Greenville High School

  • Education Level: High
  • # of students: 1,077
  • # of teachers: 89
5
GreatSchools Rating
 

$173,700$212,300$193,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$670
Property Tax -$434
Property Insurance -$117
Property Management Fees -$99
CASH FLOW
$20

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.

$193,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.9%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
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$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,145

INVESTMENT

$53,145

Down Payment
$48,250
Rehab Estimate
$2,000
Closing Costs
$2,895

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$670

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $48,250
Loan Amount $144,750
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$9,047

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,491

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3403$1,3504$1,3755$1,475
$1,475
RENT COMPS ANALYSIS
  • 4517 Spencer Street Greenville, TX 2
    • 4 beds 2 baths ∙ 1,545 Sqft ∙ Built 2021 4 beds 2 baths ∙ 1,545 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.87
    •  
  • 4519 Church Street Greenville, TX 1
    • 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 2018
    property image
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.91
    •  
  • 4515 Church Street Greenville, TX 3
    • 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 2018
    property image
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.99
    •  
  • 4705 Henry Street Greenville, TX 4
    • 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 2018
    property image
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.01
    •  
  • 4906 Henry Street Greenville, TX 5
    • 3 beds 2 baths ∙ 1,559 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,559 Sqft ∙ Built 2017
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.95
    •  
PROPERTY LISTING DETAILS
Marco Ordonez
The Michael Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14512351
Last Updated: 02/04/2021
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