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505 Alta Vista Street Joshua, TX 76058

3 Beds 2 Baths 1,800 sqft Built 2020

$279,900

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $155.50
  • 5 Days on Market
  • MLS # : 14465150
  • Updated Date : 11/05/2020 at 13:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,800 sqft
  • Baths : 2 full
Listing Agent

Citiwide Properties Corp.

Listing Agent's Description

This beautiful custom home is perfect for your next move. Granite countertops, vinyl flooring, covered back porch, and so many more custom features. Come take a look at this house in sought after Joshua ISD. Expected completion end of November.

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: 76058

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 76058

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
A.g. Elder Elementary School Primary Regular 546 41 6
A.g. Elder Elementary School Middle Regular 546 41 6
Joshua Ninth Grade Campus High Regular 391 29 7

A.g. Elder Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 41
6
GreatSchools Rating

A.g. Elder Elementary School

  • Education Level: Middle
  • # of students: 546
  • # of teachers: 41
6
GreatSchools Rating

Joshua Ninth Grade Campus

  • Education Level: High
  • # of students: 391
  • # of teachers: 29
7
GreatSchools Rating
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,033
Property Tax -$671
Property Insurance -$131
Property Management Fees -$99
CASH FLOW
-$304

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.

$279,900

PROJECTED PRICE

$1,630

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.5%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$76,174

INVESTMENT

$76,174

Down Payment
$69,975
Rehab Estimate
$2,000
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$354

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,827

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6303$1,8004$1,8505$1,850
$1,850
RENT COMPS ANALYSIS
  • 505 Alta Vista Street Joshua, TX 2
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.91
    •  
  • 314 Catherine Street Joshua, TX 1
    • 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 2005
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.99
    •  
  • 137 County Road 800a Joshua, TX 3
    • 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 2014
    LEASED 08/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.01
    •  
  • 401 Kayley Lane Joshua, TX 4
    • 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 2016
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.03
    •  
  • 800 Alexandria Lane Joshua, TX 5
    • 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 2017
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.03
    •  
PROPERTY LISTING DETAILS
Melody Mayse
Citiwide Properties Corp.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465150
Last Updated: 11/05/2020
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