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502 Hillcrest Justin, TX 76247

4 Beds 2 Baths 1,673 sqft Built 2021

$296,497

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $177.22
  • 7 Days on Market
  • MLS # : 14493873
  • Updated Date : 01/06/2021 at 17:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,673 sqft
  • Baths : 2 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14493873 - Built by Kindred Homes - February completion! ~ Welcome to the wonderful neighborhood of Reatta Ridge in Justin Texas. This home is a 4 bed, 2 bath , 1673 sq ft home. This home boasts a wide open floor plan, smart home technology, and upgraded flooring. This wonderful neighborhood boast amenities such as a community pool, and a playground. Justin is one of the fastest growing communities in North Texas, and is perfect for the family looking for the quiet side of DFW. This home is also located in the highly rated Northwest ISD. Come see us at Reatta Ridge!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Meadow View

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $114k336k

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

Neighborhood: Meadow View

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8372171

* 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
 

$266,847$326,147$296,497

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,030
Property Tax -$618
Property Insurance -$124
HOA -$25
Property Management Fees -$99
CASH FLOW
-$96

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$296,497

PROJECTED PRICE

$1,800

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.7%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
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$80,572

INVESTMENT

$80,572

Down Payment
$74,124
Rehab Estimate
$2,000
Closing Costs
$4,447

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,030

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,124
Loan Amount $222,373
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$6,819

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,644

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6753$1,7004$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 502 Hillcrest Justin, TX 5
    • 4 beds 2 baths ∙ 1,673 Sqft ∙ Built 2021 4 beds 2 baths ∙ 1,673 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.08
    •  
  • 226 Hilltop Drive Justin, TX 1
    • 3 beds 2 baths ∙ 1,585 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,585 Sqft ∙ Built 2004
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.99
    •  
  • 229 Windmill Drive Justin, TX 2
    • 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 2003
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.93
    •  
  • 458 Chisholm Trail Justin, TX 3
    • 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 2003
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.95
    •  
  • 229 Cedar Crest Drive Justin, TX 4
    • 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 2006
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.06
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14493873
Last Updated: 01/06/2021
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