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500 Crystal Clear Lane Princeton, TX 75407

5 Beds 3 Baths 3,060 sqft Built 2021

$326,410

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
December 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $106.67
  • 7 Days on Market
  • MLS # : 14489184
  • Updated Date : 12/21/2020 at 16:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,060 sqft
  • Baths : 3 full
Listing Agent

Meritage Homes Realty

Listing Agent's Description

Brand NEW energy-efficient home ready April 2021! Skip the theater and enjoy movie night at home from the comfort of the Kessler’s second-story game room. 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.

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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
 

$293,769$359,051$326,410

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,204
Property Tax -$680
Property Insurance -$204
HOA -$33
Property Management Fees -$99
CASH FLOW
-$131

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.

$326,410

PROJECTED PRICE

$2,090

PROJECTED RENT

0.64%

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

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$88,499

INVESTMENT

$88,499

Down Payment
$81,603
Rehab Estimate
$2,000
Closing Costs
$4,896

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,204

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,603
Loan Amount $244,808
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$7,611

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $2,096

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$2,090
1$2,0902$2,1953$2,199
$2,199
RENT COMPS ANALYSIS
  • 500 Crystal Clear Lane Princeton, TX 1
    • 5 beds 3 baths ∙ 3,060 Sqft ∙ Built 2021 5 beds 3 baths ∙ 3,060 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.68
    •  
  • 2072 Meadow Park Drive Princeton, TX 2
    • 5 beds 4 baths ∙ 3,393 Sqft ∙ Built 2008 5 beds 4 baths ∙ 3,393 Sqft ∙ Built 2008
    property image
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.65
    •  
  • 636 Maple Leaf Way Princeton, TX 3
    • 5 beds 3 baths ∙ 3,060 Sqft ∙ Built 2020 5 beds 3 baths ∙ 3,060 Sqft ∙ Built 2020
    property image
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,199
    • $0.72
    •  
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 #: 14489184
Last Updated: 12/21/2020
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