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502 Grande Casa Road Waxahachie, TX 75167

3 Beds 3 Baths 3,289 sqft Built 2003

$529,999

List Price

$2,800

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $161.14
  • 2 Days on Market
  • MLS # : 14467014
  • Updated Date : 11/07/2020 at 09:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,289 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Realty Group

Listing Agent's Description

Beautiful, ranch style home with a relaxing front and back porch on 8 acres. The spacious living room can host big family gatherings with a gorgeous brick fireplace with a spot to put a table to play games or a separate dining space & nook for hutch. Has a huge breakfast area with a built in bench. Split plan with spacious bedrooms. Master includes a jetted tub, dual sinks, walk in closet and sep. shower. Details include crown molding throughout, casing around the Pella windows and plantation shutters in the bedrooms. There is an office nook in a separate hall with built in bookshelves and desk. The acreage offers flat spaces, trees, carports for toys, storage buildings and a shop with electric. Must see!

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: Grande Casa Ranchitos

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $116k261k

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

Neighborhood: Grande Casa Ranchitos

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10122054

* 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
Dunaway Elementary School Primary Regular 551 37 7
Finley Junior High School Middle Regular 882 64 5
Waxahachie High School High Regular 1,985 138 4

Dunaway Elementary School

  • Education Level: Primary
  • # of students: 551
  • # of teachers: 37
7
GreatSchools Rating

Finley Junior High School

  • Education Level: Middle
  • # of students: 882
  • # of teachers: 64
5
GreatSchools Rating

Waxahachie High School

  • Education Level: High
  • # of students: 1,985
  • # of teachers: 138
4
GreatSchools Rating
 

$476,999$582,999$529,999

PURCHASE PRICE

$2,520$3,080$2,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,800
EXPENSES Loan Payment -$1,955
Property Tax -$886
Property Insurance -$217
Property Management Fees -$99
CASH FLOW
-$357

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.

$529,999

PROJECTED PRICE

$2,800

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.1%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$146,200

INVESTMENT

$146,200

Down Payment
$132,500
Rehab Estimate
$5,750
Closing Costs
$7,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,955

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $132,500
Loan Amount $397,499
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$6,847

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,800

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,565

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,800
$2,800
RENT COMPS ANALYSIS
  • 502 Grande Casa Road Waxahachie, TX 2
    • 3 beds 3 baths ∙ 3,289 Sqft ∙ Built 2003 3 beds 3 baths ∙ 3,289 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.85
    •  
  • 3509 Greathouse Road Waxahachie, TX 1
    • 4 beds 4 baths ∙ 3,470 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,470 Sqft ∙ Built 2000
    LEASED 06/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.78
    •  
PROPERTY LISTING DETAILS
Melissa Jones
Re/max Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467014
Last Updated: 11/07/2020
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