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504 Molly Lane Keene, TX 76059

4 Beds 2 Baths 2,143 sqft Built 2021

$299,990

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $139.99
  • 6 Days on Market
  • MLS # : 14529685
  • Updated Date : 03/09/2021 at 14:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,143 sqft
  • Baths : 2 full
Listing Agent

Knob & Key Realty Partners Llc

Listing Agent's Description

NEW JOHN HOUSTON CUSTOM HOMES IN BRISTOL OAKS IN KEENE ISD. This Boise plan features 4 bedrooms, 2 baths, box window at breakfast nook, and back covered patio. Upgrades include hardwood flooring, upgraded fireplace, painted cabinets, and much more. READY IN JUNE!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Zip Code: 76059

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $84k243k

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

Zip Code: 76059

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8271734

* 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
Keene Elementary School Primary Regular 448 31 3
Keene Junior High School Middle Regular 212 18 5
Wanda R Smith High School High Regular 274 29 5

Keene Elementary School

  • Education Level: Primary
  • # of students: 448
  • # of teachers: 31
3
GreatSchools Rating

Keene Junior High School

  • Education Level: Middle
  • # of students: 212
  • # of teachers: 18
5
GreatSchools Rating

Wanda R Smith High School

  • Education Level: High
  • # of students: 274
  • # of teachers: 29
5
GreatSchools Rating
 

$269,991$329,989$299,990

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,042
Property Tax -$720
Property Insurance -$151
Property Management Fees -$99
CASH FLOW
-$42

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.

$299,990

PROJECTED PRICE

$1,970

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 10.0%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
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-$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$81,497

INVESTMENT

$81,497

Down Payment
$74,998
Rehab Estimate
$2,000
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,998
Loan Amount $224,993
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$8,771

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,907

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,970
$1,970
RENT COMPS ANALYSIS
  • 504 Molly Lane Keene, TX 2
    • 4 beds 2 baths ∙ 2,143 Sqft ∙ Built 2021 4 beds 2 baths ∙ 2,143 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.92
    •  
  • 801 Justin Court Keene, TX 1
    • 3 beds 2 baths ∙ 1,911 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,911 Sqft ∙ Built 2004
    property image
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.89
    •  
PROPERTY LISTING DETAILS
Alan Simonton
Knob & Key Realty Partners Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14529685
Last Updated: 03/09/2021
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