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506 Pepperbark Avenue Princeton, TX 75407

3 Beds 2 Baths 1,809 sqft Built 2020

$287,773

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $159.08
  • 3 Days on Market
  • MLS # : 14471241
  • Updated Date : 12/04/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,809 sqft
  • Baths : 2 full
Listing Agent

Gehan Homes Brokerage, Llc

Listing Agent's Description

Gorgeous Single Story Gehan Home that is great for entertaining with an open Kitchen and Family Room. Secondary Bedrooms at the front of the home and a nice size Master Bedroom tucked away in the back of the home. Large backyard!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Zip Code: 75407

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $114k243k

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

Zip Code: 75407

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8671734

* 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
Lacy Elementary School Primary Regular 695 47 6
Clark Junior High School Middle Regular 540 33 8
Princeton High School High Regular 1,048 67 6

Lacy Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 47
6
GreatSchools Rating

Clark Junior High School

  • Education Level: Middle
  • # of students: 540
  • # of teachers: 33
8
GreatSchools Rating

Princeton High School

  • Education Level: High
  • # of students: 1,048
  • # of teachers: 67
6
GreatSchools Rating
 

$258,996$316,550$287,773

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,062
Property Tax -$600
Property Insurance -$132
HOA -$33
Property Management Fees -$99
CASH FLOW
-$276

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$287,773

PROJECTED PRICE

$1,650

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 3.00%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,260

INVESTMENT

$78,260

Down Payment
$71,943
Rehab Estimate
$2,000
Closing Costs
$4,317

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,062

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,943
Loan Amount $215,830
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$988

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,691

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,498
1$1,4982$1,5953$1,6504$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 506 Pepperbark Avenue Princeton, TX 4
    • 3 beds 2 baths ∙ 1,809 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,809 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.91
    •  
  • 1206 Lombardy Drive Princeton, TX 1
    • 4 beds 2 baths ∙ 1,658 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,658 Sqft ∙ Built 2017
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,498
    • $0.90
    •  
  • 309 Cedar Creek Drive Princeton, TX 2
    • 4 beds 2 baths ∙ 1,658 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,658 Sqft ∙ Built 2017
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.96
    •  
  • 766 Bayonet Street Princeton, TX 3
    • 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 2019
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.96
    •  
  • 814 Spruce Lane Princeton, TX 5
    • 4 beds 2 baths ∙ 1,838 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,838 Sqft ∙ Built 2019
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.92
    •  
PROPERTY LISTING DETAILS
April Maki
Gehan Homes Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471241
Last Updated: 12/04/2020
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