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501 Sonoma Court Sherman, TX 75092

4 Beds 3 Baths 2,150 sqft Built 2020

$329,000

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $153.02
  • 5 Days on Market
  • MLS # : 14489865
  • Updated Date : 12/23/2020 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,150 sqft
  • Baths : 2 full , 1 half
Listing Agent

Easy Life Realty

Listing Agent's Description

Enjoy a warm country welcome with this two story 4 bedroom, two and a half bath home right in the heart of Sherman! Located in a great area near Sherman Town Center that is great for gifts, groceries, and other shopping needs! Not only is the location great but the details and features in this home are hard to beat with the farm apron kitchen sink, illuminating cabinet lighting, tankless water heater, low e windows, quartz countertops, and a two car garage connected to the mudroom! If this home is up your alley call your favorite REALTOR® today to schedule an appointment.

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
Dillingham Intermediate School Primary Regular 1,036 76 4
Dillingham Intermediate School Middle Regular 1,036 76 4
Sherman High School High Regular 1,780 119 5

Dillingham Intermediate School

  • Education Level: Primary
  • # of students: 1,036
  • # of teachers: 76
4
GreatSchools Rating

Dillingham Intermediate School

  • Education Level: Middle
  • # of students: 1,036
  • # of teachers: 76
4
GreatSchools Rating

Sherman High School

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

$296,100$361,900$329,000

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,214
Property Tax -$582
Property Insurance -$144
HOA -$20
Property Management Fees -$99
CASH FLOW
-$19

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.

$329,000

PROJECTED PRICE

$2,040

PROJECTED RENT

0.62%

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$1.0M

PROJECTED ANNUAL CASH FLOW

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

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$89,185

INVESTMENT

$89,185

Down Payment
$82,250
Rehab Estimate
$2,000
Closing Costs
$4,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,214

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,250
Loan Amount $246,750
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$10,760

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,021

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,975
1$1,9752$2,0403$2,400
$2,400
RENT COMPS ANALYSIS
  • 501 Sonoma Court Sherman, TX 2
    • 4 beds 3 baths ∙ 2,150 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,150 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.95
    •  
  • 3710 Sumner Court Sherman, TX 1
    • 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
    •  
  • 520 Appaloosa Lane Sherman, TX 3
    • 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 2016
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.97
    •  
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 #: 14489865
Last Updated: 12/23/2020
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