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496 Crystal Clear Lane Princeton, TX 75407

4 Beds 3 Baths 2,651 sqft Built 2021

$321,885

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
December 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $121.42
  • 7 Days on Market
  • MLS # : 14489157
  • Updated Date : 12/21/2020 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,651 sqft
  • Baths : 2 full , 1 half
Listing Agent

Meritage Homes Realty

Listing Agent's Description

Brand NEW energy-efficient home ready April 2021! The Winedale upstairs game room makes a great play space. Downstairs, a large walk-in closet creates generous Primary suite. Pebble cabinets with shaded grey granite countertops, brown grey EVP flooring with multi-tone carpet in our Elemental package. 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.

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

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
 

$289,697$354,074$321,885

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,188
Property Tax -$671
Property Insurance -$180
HOA -$33
Property Management Fees -$99
CASH FLOW
-$281

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.

$321,885

PROJECTED PRICE

$1,890

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 3.00%
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-$6.0k-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,300

INVESTMENT

$87,300

Down Payment
$80,471
Rehab Estimate
$2,000
Closing Costs
$4,828

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,188

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,471
Loan Amount $241,414
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$1,576

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,882

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7503$1,7504$1,7805$1,890
$1,890
RENT COMPS ANALYSIS
  • 496 Crystal Clear Lane Princeton, TX 5
    • 4 beds 3 baths ∙ 2,651 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,651 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.71
    •  
  • 1211 Pine Forest Drive Princeton, TX 1
    • 5 beds 3 baths ∙ 2,655 Sqft ∙ Built 2008 5 beds 3 baths ∙ 2,655 Sqft ∙ Built 2008
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.64
    •  
  • 417 Stonecreek Drive Princeton, TX 2
    • 3 beds 3 baths ∙ 2,312 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,312 Sqft ∙ Built 2007
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.76
    •  
  • 1234 Angelina Drive Princeton, TX 3
    • 4 beds 2 baths ∙ 2,564 Sqft ∙ Built 2012 4 beds 2 baths ∙ 2,564 Sqft ∙ Built 2012
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.68
    •  
  • 320 Crosscreek Princeton, TX 4
    • 4 beds 3 baths ∙ 2,339 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,339 Sqft ∙ Built 2010
    LEASED 07/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.76
    •  
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 #: 14489157
Last Updated: 12/21/2020
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