Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

505 Gentle Breeze Court Heath, TX 75126

3 Beds 2 Baths 2,309 sqft Built 2020

$399,990

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $173.23
  • 6 Days on Market
  • MLS # : 14489953
  • Updated Date : 12/22/2020 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,309 sqft
  • Baths : 2 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14489953 - Built by CastleRock Communities - January completion! ~ Craftsman-style Gem ! The Glenwood is the perfect home for your growing family. This 3-bed, 3-bath home includes a large family room, open concept kitchen with quartz countertops and under-counter lighting. The study has a third bathroom which facilitates working from home or using it as a guest room when needed. We have also upgraded the appliances and low-voltage wiring to include media outlets in every room (LAN). Additional features include a large covered patio, corner fireplace, hardwood flooring, 3-car garage, and upgraded cabinets throughout that fulfils your every want and need in a new home. Versatile and Spacious!

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: 75126

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k538k

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

Zip Code: 75126

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263246

* 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
Amy Parks-heath Elementary School Primary Regular 781 44 9
Amy Parks-heath Elementary School Middle Regular 781 44 9
Rockwall-heath High School High Regular 2,200 119 8

Amy Parks-heath Elementary School

  • Education Level: Primary
  • # of students: 781
  • # of teachers: 44
9
GreatSchools Rating

Amy Parks-heath Elementary School

  • Education Level: Middle
  • # of students: 781
  • # of teachers: 44
9
GreatSchools Rating

Rockwall-heath High School

  • Education Level: High
  • # of students: 2,200
  • # of teachers: 119
8
GreatSchools Rating
 

$359,991$439,989$399,990

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,476
Property Tax -$716
Property Insurance -$161
HOA -$62
Property Management Fees -$99
CASH FLOW
-$563

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.

$399,990

PROJECTED PRICE

$1,950

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.8%
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-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

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$107,997

INVESTMENT

$107,997

Down Payment
$99,998
Rehab Estimate
$2,000
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,998
Loan Amount $299,993
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$60

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,170

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,9503$2,0004$2,1505$2,200
$2,200
RENT COMPS ANALYSIS
  • 505 Gentle Breeze Court Heath, TX 2
    • 3 beds 2 baths ∙ 2,309 Sqft ∙ Built 2020 3 beds 2 baths ∙ 2,309 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.84
    •  
  • 1213 Erika Lane Forney, TX 1
    • 4 beds 3 baths ∙ 1,995 Sqft ∙ Built 2017 4 beds 3 baths ∙ 1,995 Sqft ∙ Built 2017
    property image
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.90
    •  
  • 2003 Brazoria Drive Forney, TX 3
    • 3 beds 2 baths ∙ 1,980 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,980 Sqft ∙ Built 2012
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.01
    •  
  • 2014 Sage Brush Drive Forney, TX 4
    • 3 beds 2 baths ∙ 2,480 Sqft ∙ Built 2012 3 beds 2 baths ∙ 2,480 Sqft ∙ Built 2012
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.87
    •  
  • 1226 Mt Olive Drive Forney, TX 5
    • 4 beds 3 baths ∙ 2,242 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,242 Sqft ∙ Built 2019
    property image
    LEASED 07/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.98
    •  
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 #: 14489953
Last Updated: 12/22/2020
BESbswy