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500 Carneros Drive Sherman, TX 75092

3 Beds 3 Baths 1,906 sqft Built 2021

$314,999

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $165.27
  • 4 Days on Market
  • MLS # : 14513723
  • Updated Date : 02/11/2021 at 10:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,906 sqft
  • Baths : 2 full , 1 half
Listing Agent

Easy Life Realty

Listing Agent's Description

Ceci Bates Custom Homes construction at an affordable price. You would have to wait a whole year to design and build your dream home from Ceci Bates but here you just have 45 days for final completion. This home is a 3 bed, 2 and a half bath, 2 car garage. Features include quartz countertops, stainless steel appliances, soft close cabinets, drought-tolerant landscaping, sprinkler system, luxury vinyl plank flooring, tankless water heater, and timeless light fixtures. The property is still under construction so please be careful when touring.

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: 75092

ZipNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150k160k170k180k190kPrice in $60k199k

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

Zip Code: 75092

No Data Available.

* 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
Neblett Elementary School Primary Regular 462 35 4
Piner Middle School Middle Regular 1,004 65 4
Sherman High School High Regular 1,780 119 5

Neblett Elementary School

  • Education Level: Primary
  • # of students: 462
  • # of teachers: 35
4
GreatSchools Rating

Piner Middle School

  • Education Level: Middle
  • # of students: 1,004
  • # of teachers: 65
4
GreatSchools Rating

Sherman High School

  • Education Level: High
  • # of students: 1,780
  • # of teachers: 119
5
GreatSchools Rating
 

$283,499$346,499$314,999

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,094
Property Tax -$722
Property Insurance -$131
HOA -$15
Property Management Fees -$99
CASH FLOW
-$291

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.

$314,999

PROJECTED PRICE

$1,770

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 3.00%
Vacancy 6.00%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,475

INVESTMENT

$85,475

Down Payment
$78,750
Rehab Estimate
$2,000
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,249
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$109

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,773

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7703$1,975
$1,975
RENT COMPS ANALYSIS
  • 500 Carneros Drive Sherman, TX 2
    • 3 beds 3 baths ∙ 1,906 Sqft ∙ Built 2021 3 beds 3 baths ∙ 1,906 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.93
    •  
  • 4809 Indio Lane Sherman, TX 1
    • 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 2005
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.95
    •  
  • 3710 Sumner Court Sherman, TX 3
    • 3 beds 3 baths ∙ 2,182 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,182 Sqft ∙ Built 2006
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.91
    •  
PROPERTY LISTING DETAILS
Lisa Hitchcock
Easy Life Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14513723
Last Updated: 02/11/2021
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