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490 San Remo Princeton, TX 75407

3 Beds 2 Baths 1,650 sqft Built 1997

$320,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $193.94
  • 10 Days on Market
  • MLS # : 14477924
  • Updated Date : 11/30/2020 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,650 sqft
  • Baths : 2 full
Listing Agent

Ultra Real Estate Services

Listing Agent's Description

Very nice 1 ACRE LOT with charming 3 brs, 2 bath, 2 car garage home on quite street.This property offer lots of space in and out. new skylights,New roof,large corner brick fireplace, c-tile harringbone pattern.New vanity, toilet,faucets, light fixtures, mirrors, shower knob and shower head, new bathtub faucet and fresh painting.New ceilling fance in all the rooms. New Boschs Dishwasher, New AO Smith smart water hearter and 3 year old Kenmore Elite oven, new door knobs thru out the house. Pending upgrades; New tile in the kitchen and laundry, contertops, sink, faucet, garbage disposaland new baseboard. Covered chicken coop, small orchard, tree swing and basketball hoop, goat pin, seasonal creek on the back.

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: 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
Smith Elementary School Primary Regular NA
Clark Junior High School Middle Regular 540 33 8
Princeton High School High Regular 1,048 67 6

Smith Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
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
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$1,181
Property Tax -$667
Property Insurance -$123
Property Management Fees -$99
CASH FLOW
-$489

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.

$320,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$22

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,613

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5503$1,5504$1,5805$1,650
$1,650
RENT COMPS ANALYSIS
  • 490 San Remo Princeton, TX 4
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.96
    •  
  • 1219 Lambert Drive Princeton, TX 1
    • 4 beds 2 baths ∙ 1,621 Sqft ∙ Built 2013 4 beds 2 baths ∙ 1,621 Sqft ∙ Built 2013
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.96
    •  
  • 1122 Roman Drive Princeton, TX 2
    • 4 beds 2 baths ∙ 1,584 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,584 Sqft ∙ Built 2015
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.98
    •  
  • 1209 Bellevue Drive Princeton, TX 3
    • 3 beds 2 baths ∙ 1,591 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,591 Sqft ∙ Built 2008
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.97
    •  
  • 1122 Rainer Drive Princeton, TX 5
    • 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 2014
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
PROPERTY LISTING DETAILS
Marlena Plesa Pfeffer
Ultra Real Estate Services
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14477924
Last Updated: 11/30/2020
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