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492 Canyon Falls Avenue Princeton, TX 75407

3 Beds 2 Baths 1,831 sqft Built 2020

INVESTimate

$279,768

List Price

$1,690

$1,521 - $1,859

Rent Est.

$76,139

Investment Est.

$303,157 ( +8.36%) 1 YR EST. FORECAST

AVAILABLE

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AVAILABLE

1 YEAR
Gross Yield	7.25%
NOI	$8,224

15 YEAR
Yield	2.23%
Appreciation	4.42%
TOTAL RETURN	22.24%

PROPERTY INFO

Built 2020 NEW CONSTRUCTION

August 25, 2020 RECENTLY ADDED

FACTS

Built In 2020
Price/Sqft : $152.80
2 Days on Market
MLS # : 14420523
Updated Date : 08/25/2020 at 22:00

CONSTRUCTION

Beds : 3
Floor Size : 1,831 sqft
Baths : 2 full

Listing Agent

Meritage Homes Realty

Listing Agent's Description

Brand NEW energy-efficient home ready Oct-Nov 2020! A private study in the Oleander makes a perfect home office or play room. Gray cabinets, salt 'n pepper granite, white geo backsplash, light gray tile and carpet, and oyster oak vinyl in our Posh package. Surrounded by wooded open space and creeks, Brookside amenities include community pool, playground and creekside walking trails. Known for their energy-efficient features, our homes help you live a healthier and quieter lifestyle while saving thousands of dollars on utility bills.

MARKET HIGHLIGHTS

Dallas Market Report

. 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)

Zip Code: 75407

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

Zip Code: 75407

* 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

GreatSchools Rating

Clark Junior High School

Education Level: Middle
# of students: 540
# of teachers: 33

GreatSchools Rating

Princeton High School

Education Level: High
# of students: 1,048
# of teachers: 67

GreatSchools Rating

FINANCIALS

Learn how to read this

$251,791$307,74500$279,768

PURCHASE PRICE

$1,521$1,85900$1,690

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

Learn how to read this

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

Cash Flow
Appreciation
Principal

PROJECTED ANNUAL CASH FLOW

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME	Rent	$1,690
EXPENSES	Loan Payment	-$1,032
	Property Tax	-$583
	Property Insurance	-$133
	HOA	-$33
	Property Management Fees	-$99



CASH FLOW -$191

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.

$279,768

PROJECTED PRICE

$1,690

PROJECTED RENT

0.60%

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

INVESTMENT

$76,139

Down Payment	$69,942
Rehab Estimate	$2,000
Closing Costs	$4,197

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,032

MONTHLY LOAN PAYMENT

30 yr

4.25%

25.00%

Down Payment

Term	30 Years
Interest	4.25%
Down Payment	$69,942
Loan Amount	$209,826

See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,033

INTEREST SAVED

CASH FLOW REINVESTMENT

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

$1,690
LIST RENT
$0.92
LIST RENT PER SQFT

$1,707
COMP ESTIMATED VALUE
$0.93
COMP AVG. RENT PER SQFT

Comps Range

$1,599

1$1,5992$1,6003$1,6504$1,6905$1,700

$1,700

RENT COMPS ANALYSIS

1,831
PROPERTY SQFT
$0.93
AVG RENT PER SQFT
$1,707
ESTIMATED VALUE
$1,690
LIST RENT

492 Canyon Falls Avenue Princeton, TX 5

3 beds 2 baths ∙ 1,831 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,831 Sqft ∙ Built 2020
Price

Price Per SQFT

$279,768

$152.80
613 Maple Leaf Way Princeton, TX 1

3 beds 3 baths ∙ 1,808 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 2020
SOLD 08/07/20
Price

Price Per SQFT

$239,900

$132.69
747 Cascade Lane Princeton, TX 2

3 beds 2 baths ∙ 1,831 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,831 Sqft ∙ Built 2020
SOLD 06/04/20
Price

Price Per SQFT

$246,498

$134.62
759 Cascade Lane Princeton, TX 3

3 beds 2 baths ∙ 1,831 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,831 Sqft ∙ Built 2019
SOLD 04/01/20
Price

Price Per SQFT

$251,888

$137.57
629 Maple Leaf Way Princeton, TX 4

3 beds 2 baths ∙ 1,972 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,972 Sqft ∙ Built 2020
SOLD 05/19/20
Price

Price Per SQFT

$262,900

$133.32

492 Canyon Falls Avenue Princeton, TX 4

3 beds 2 baths ∙ 1,831 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,831 Sqft ∙ Built 2020
Rent

Rent Per SQFT

$1,690

$0.92
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 5

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

Patrick Mcgrath
Meritage Homes Realty

Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027

North Texas Real Estate Information Services ( NTREIS)
MLS #: 14420523
Last Updated: 08/25/2020

492 Canyon Falls Avenue Princeton, TX 75407

INVESTimate

$279,768

$1,690

$76,139

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

Lacy Elementary School

Clark Junior High School

Princeton High School

FINANCIALS

$251,791$307,74500$279,768

$1,521$1,85900$1,690

Acquisition Concierge

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$279,768

$1,690

0.60%

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$1,032

1.5

$3,033

$279,768

$152.8

$246,361

$134.55

COMPS RANGE

PRICE COMPS ANALYSIS

$1,690

$0.92

$1,707

$0.93

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS