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4616 Highland Trail Joshua, TX 76058

3 Beds 2 Baths 1,344 sqft Built 2000

$215,000

List Price

$1,220

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

January 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $159.97
  • 2 Days on Market
  • MLS # : 14501132
  • Updated Date : 01/16/2021 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,344 sqft
  • Baths : 2 full
Listing Agent

Rico Realty

Listing Agent's Description

BEAUTIFUL DOUBLEWIDE HOME IN ALMOST 2 ACRES ........ THIS AMAZING RANCH STYLE PROPERTY HAS IRON FENCING ALONG THE FRONT OF THE PROPERTY ......... NICE FRONT COVERED PORCH, BRAND NEW METAL SKIRTING ALL AROUND ......... ENJOY FAMILY, HUGE GUESS SUITE WITH A.C WINDOW UNIT AND NICE CONCRETE FRONT PORCH ......... BRING YOUR HORSES, MULTIPLE STALL BARN WITH STORAGE SPACE IN FRONT AND IN THE BACK AS WELL WITH CONCRETE FLOORS ......... MUST SEE IT.

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: Highland Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $83k243k

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

Neighborhood: Highland Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9091734

* 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
Caddo Grove Elementary School Primary Regular 625 41 5
Loflin Middle School Middle Regular 811 52 6
Joshua Ninth Grade Campus High Regular 391 29 7

Caddo Grove Elementary School

  • Education Level: Primary
  • # of students: 625
  • # of teachers: 41
5
GreatSchools Rating

Loflin Middle School

  • Education Level: Middle
  • # of students: 811
  • # of teachers: 52
6
GreatSchools Rating

Joshua Ninth Grade Campus

  • Education Level: High
  • # of students: 391
  • # of teachers: 29
7
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,098$1,342$1,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,220
EXPENSES Loan Payment -$747
Property Tax -$515
Property Insurance -$105
Property Management Fees -$99
CASH FLOW
-$246

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.

$215,000

PROJECTED PRICE

$1,220

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
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-$6.0k-$5.0k-$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$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$96

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,220

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,537

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,220
1$1,2202$1,3003$1,4004$1,650
$1,650
RENT COMPS ANALYSIS
  • 4616 Highland Trail Joshua, TX 1
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,220
    • $0.91
    •  
  • 5500 Grand Ranch Drive Joshua, TX 2
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2010
    LEASED 12/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.08
    •  
  • 5608 Grand Ranch Drive Joshua, TX 3
    • 3 beds 2 baths ∙ 1,064 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,064 Sqft ∙ Built 2010
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.32
    •  
  • 5908 Elm Court Joshua, TX 4
    • 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 2012
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
PROPERTY LISTING DETAILS
Francisco Rico
Rico Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501132
Last Updated: 01/16/2021
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