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5014 Spruce Street Krum, TX 76249

4 Beds 2 Baths 2,062 sqft Built 2013

$294,500

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $142.82
  • 3 Days on Market
  • MLS # : 14505068
  • Updated Date : 01/29/2021 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,062 sqft
  • Baths : 2 full
Listing Agent

Real T Team

Listing Agent's Description

Stonehollow custom home for sale! 4 bedrooms, 2 full bathrooms, 2 living areas, office with french doors, and oversized garage. Open floorplan with gorgeous wood floors and custom Austin Stone wood-burning fireplace in one of the living areas. French doors accent the front entryway and lead to a room that can be used as an office or another bedroom. The Master suite has an oversized walk-in closet. The Master bathroom has double sinks, a garden tub, and a glass framed shower. New fence around the backyard and a new extended patio, which is great for entertaining. Home is located in the sought after Krum ISD in a quiet neighborhood.

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

Neighborhood: Aspen Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $114k254k

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

Neighborhood: Aspen Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8371762

* 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
Dodd Intermediate School Primary Regular 309 24 5
Krum Middle School Middle Regular 486 33 5
Krum High School High Regular 596 43 6

Dodd Intermediate School

  • Education Level: Primary
  • # of students: 309
  • # of teachers: 24
5
GreatSchools Rating

Krum Middle School

  • Education Level: Middle
  • # of students: 486
  • # of teachers: 33
5
GreatSchools Rating

Krum High School

  • Education Level: High
  • # of students: 596
  • # of teachers: 43
6
GreatSchools Rating
 

$265,050$323,950$294,500

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,023
Property Tax -$592
Property Insurance -$146
HOA -$17
Property Management Fees -$99
CASH FLOW
-$97

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$294,500

PROJECTED PRICE

$1,780

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,793

INVESTMENT

$83,793

Down Payment
$73,625
Rehab Estimate
$5,750
Closing Costs
$4,418

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,023

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,625
Loan Amount $220,875
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$6,730

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,820

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,625
1$1,6252$1,6993$1,7504$1,7805$1,890
$1,890
RENT COMPS ANALYSIS
  • 5014 Spruce Street Krum, TX 4
    • 4 beds 2 baths ∙ 2,062 Sqft ∙ Built 2013 4 beds 2 baths ∙ 2,062 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.86
    •  
  • 1404 Wenatchee Drive Krum, TX 1
    • 4 beds 2 baths ∙ 1,894 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,894 Sqft ∙ Built 2002
    property image
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.86
    •  
  • 108 Comanche Trail Krum, TX 2
    • 4 beds 2 baths ∙ 1,894 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,894 Sqft ∙ Built 2006
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.90
    •  
  • 1632 Santa Fe Trail Krum, TX 3
    • 3 beds 3 baths ∙ 1,933 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,933 Sqft ∙ Built 2007
    property image
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.91
    •  
  • 3454 Lauren Street Krum, TX 5
    • 4 beds 2 baths ∙ 2,202 Sqft ∙ Built 2020 4 beds 2 baths ∙ 2,202 Sqft ∙ Built 2020
    property image
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.86
    •  
PROPERTY LISTING DETAILS
Lisa Mcentire
Real T Team
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14505068
Last Updated: 01/29/2021
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