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506 Santa Fe Alvarado, TX 76009

3 Beds 2 Baths 1,448 sqft Built 2020

INVESTimate

$216,750

List Price

$1,540

$1,386 - $1,694

Rent Est.

$59,439

Investment Est.

$232,638  ( +7.33%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $149.69
  • 2 Days on Market
  • MLS # : 14420787
  • Updated Date : 08/25/2020 at 15:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,448 sqft
  • Baths : 2 full
Listing Agent

Re/max Associates Of Mansfield

Listing Agent's Description

New 3 bed 2 bath home with numerous upgrades throughout. Open concept designed kitchen will feature granite countertops, custom cabinets, stainless steel appliances, tile backsplash, and large pantry. The living area offers ample light from the low-e energy efficient windows and plenty of wall space for your big screen TV. Ceiling fans in each room to keep you comfortable and separate utility room to keep the noise down. Estimated completion November 2020.

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MARKET HIGHLIGHTS

Dallas Market Report
  • . 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: 76009

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 76009

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9051734

* 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
Alvarado High School High Regular 1,033 64 5

Alvarado High School

  • Education Level: High
  • # of students: 1,033
  • # of teachers: 64
5
GreatSchools Rating
 

FINANCIALS

Learn how to read this

$195,075$238,425$216,750

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING
Learn how to read this

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow

  • Appreciation

  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

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$100k$200k$300k$400k$500k$600k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$800
Property Tax -$497
Property Insurance -$111
Property Management Fees -$99
CASH FLOW
$33

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.

$216,750

PROJECTED PRICE

$1,540

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.33%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$59,439

INVESTMENT

$59,439

Down Payment		 $54,188
Rehab Estimate		 $2,000
Closing Costs		 $3,251

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$800

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,188
Loan Amount $162,563
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$13,589

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT

  • $1.06

    LIST RENT PER SQFT

  • $1,540

    COMP ESTIMATED VALUE

  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3503$1,3954$1,540
$1,540
RENT COMPS ANALYSIS
  • 506 Santa Fe Alvarado, TX 4
    • 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $1.06
    •  
  • 194 S Preston Drive Alvarado, TX 1
    • 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 2019
    property image
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.11
    •  
  • 113 Cherokee Trail Alvarado, TX 2
    • 3 beds 2 baths ∙ 1,321 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,321 Sqft ∙ Built 2001
    property image
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.02
    •  
  • 204 Seminole Trail Alvarado, TX 3
    • 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 2004
    property image
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.06
    •  
PROPERTY LISTING DETAILS
LISTING AGENT
Todd Davis
Re/max Associates Of Mansfield
BUYER AGENT
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
SOURCE
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14420787
Last Updated: 08/25/2020

All returns, cash flow, and appreciation estimates are projections. Please review our Disclaimer for more information.

All values are rounded to the nearest dollar.
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