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487 Deer Canyon Way Princeton, TX 75407

4 Beds 2 Baths 1,800 sqft Built 2021

INVESTimate

$289,400

List Price

$1,710

$1,539 - $1,881

Rent Est.

$313,594  ( +8.36%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
FACTS
  • Built In 2021
  • Price/Sqft : $160.78
  • 10 Days on Market
  • MLS # : 14415179
  • Updated Date : 08/26/2020 at 05:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,800 sqft
  • Baths : 2 full
Listing Agent

Mcelroy Team Realty

Listing Agent's Description

487 Deer Canyon Way is everything you need and will be ready for closing in January! Trophy Signature Homes Emmy II C exterior is highlighted with gorgeous stone and the interior has been upgraded with quartz countertops! Enjoy easy living with 1800 sqft and 4 bedrooms. The classy light gray kitchen is the anchor of the Pearl River interior package and gives you tons of decorating options. The covered patio is great for fresh air and the fireplace gives you warmth and ambiance both day and night. The open floor plan is remarkable and will make the room feel much larger than it is. Visit us today and see why Trophy Signature Homes should build your next home.

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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: 75407

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $114k243k

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

Zip Code: 75407

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8671734

* 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
Lacy Elementary School Primary Regular 695 47 6
Clark Junior High School Middle Regular 540 33 8
Princeton High School High Regular 1,048 67 6

Lacy Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 47
6
GreatSchools Rating

Clark Junior High School

  • Education Level: Middle
  • # of students: 540
  • # of teachers: 33
8
GreatSchools Rating

Princeton High School

  • Education Level: High
  • # of students: 1,048
  • # of teachers: 67
6
GreatSchools Rating
 

$260,460$318,340$289,400

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,068
Property Tax -$591
Property Insurance -$131
HOA -$33
Property Management Fees -$99
CASH FLOW
-$212

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$289,400

PROJECTED PRICE

$1,710

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.36%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,691

INVESTMENT

$78,691

Down Payment
$72,350
Rehab Estimate
$2,000
Closing Costs
$4,341

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,068

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,350
Loan Amount $217,050
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$2,719

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,679

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,599
1$1,5992$1,6003$1,6504$1,7005$1,710
$1,710
RENT COMPS ANALYSIS
  • 487 Deer Canyon Way Princeton, TX 5
    • 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 2021 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.95
    •  
  • 212 Creekwood Drive Princeton, TX 1
    • 3 beds 2 baths ∙ 1,666 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,666 Sqft ∙ Built 2006
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.96
    •  
  • 208 Creekwood Drive Princeton, TX 2
    • 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 2006
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.89
    •  
  • 766 Bayonet Street Princeton, TX 3
    • 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 2019
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.96
    •  
  • 814 Spruce Lane Princeton, TX 4
    • 4 beds 2 baths ∙ 1,838 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,838 Sqft ∙ Built 2019
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.92
    •  
PROPERTY LISTING DETAILS
Danny Mcelroy
Mcelroy Team Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415179
Last Updated: 08/26/2020
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