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508 Point Vista Drive Aledo, TX 76008

4 Beds 5 Baths 3,422 sqft Built 2018

$549,990

List Price

$3,250

$3K - $3.5K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $160.72
  • 3 Days on Market
  • MLS # : 14470349
  • Updated Date : 11/14/2020 at 13:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,422 sqft
  • Baths : 4 full , 1 half
Listing Agent

Holmquist & Associates Realty

Listing Agent's Description

STUNNING MODEL HOME with DELUXE TOUCHES*Painted brick*Spacious OPEN CONCEPT FLOOR PLAN, and 12-foot ceilings in the Family Room*GOURMET ISLAND KITCHEN with CUSTOM CABINETS, UPGRADED GRANITE COUNTERTOPS, and an OVERSIZED ISLAND*Kitchen is overlooking the Living Room and a sea of breathtaking NAIL DOWN HARDWOOD FLOORS*The owner's suite features a sitting area and an exquisite spa like Bath*Upstairs features a GAMEROOM, two additional bedrooms, each with their own full bath, and a study nook*All bedrooms are large, beautiful architectural features like archways & crown molding in entry, family, and owner's suite*Smart home with speakers throughout*Foam Insulation*COME SEE TODAY!!

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: 76008

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k393k

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

Zip Code: 76008

ZipNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262811

* 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
Coder Elementary School Primary Regular 425 27 7
Aledo Middle School Middle Regular 804 47 9
Aledo High School High Regular 1,193 72 7

Coder Elementary School

  • Education Level: Primary
  • # of students: 425
  • # of teachers: 27
7
GreatSchools Rating

Aledo Middle School

  • Education Level: Middle
  • # of students: 804
  • # of teachers: 47
9
GreatSchools Rating

Aledo High School

  • Education Level: High
  • # of students: 1,193
  • # of teachers: 72
7
GreatSchools Rating
 

$494,991$604,989$549,990

PURCHASE PRICE

$2,925$3,575$3,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,250
EXPENSES Loan Payment -$2,029
Property Tax -$1,232
Property Insurance -$225
HOA -$50
Property Management Fees -$99
CASH FLOW
-$385

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$549,990

PROJECTED PRICE

$3,250

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.5%
Maintenance Year (1-5) 8.00%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$147,747

INVESTMENT

$147,747

Down Payment
$137,498
Rehab Estimate
$2,000
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,498
Loan Amount $412,493
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$4,849

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,250

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $3,251

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,975
1$2,9752$3,2003$3,250
$3,250
RENT COMPS ANALYSIS
  • 508 Point Vista Drive Aledo, TX 3
    • 4 beds 5 baths ∙ 3,422 Sqft ∙ Built 2019 4 beds 5 baths ∙ 3,422 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $0.95
    •  
  • 708 Paintbrush Court Aledo, TX 1
    • 5 beds 3 baths ∙ 3,187 Sqft ∙ Built 2017 5 beds 3 baths ∙ 3,187 Sqft ∙ Built 2017
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,975
    • $0.93
    •  
  • 409 Prairie Run Aledo, TX 2
    • 4 beds 4 baths ∙ 3,316 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,316 Sqft ∙ Built 2014
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.97
    •  
PROPERTY LISTING DETAILS
Krissy Mireles
Holmquist & Associates Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470349
Last Updated: 11/14/2020
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