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508 W Cotter Street Alvarado, TX 76009

3 Beds 2 Baths 1,754 sqft Built 1985

$206,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $117.45
  • 1 Days on Market
  • MLS # : 14498983
  • Updated Date : 01/17/2021 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,754 sqft
  • Baths : 2 full
Listing Agent

Rj Williams & Company Re Llc

Listing Agent's Description

Don't miss out on this recently renovated home that was gutted to the studs. This 3 bedroom 2 bath open concept home in Alvarado has easy access to I-35W. 2018 updates include laminate flooring, granite counters, new windows, HVAC, commercial grade water heater, stainless steel appliances, vaulted ceilings, recessed lighting, 2in blinds, panel doors & ceiling fans. Exterior boasts an oversized lot, uncovered patio, full sprinkler system, cedar privacy fence, stamped circle driveway, a beautiful 20x23 cedar gazebo in the backyard that has electricity, ceiling fan, a brick firepit & stamped concrete perfect for entertaining family & friends. Don't delay, schedule your showing TODAY! SE HABLA ESPAÑOL.

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: 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
 

$185,400$226,600$206,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$716
Property Tax -$473
Property Insurance -$129
Property Management Fees -$99
CASH FLOW
$104

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.

$206,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,340

INVESTMENT

$60,340

Down Payment
$51,500
Rehab Estimate
$5,750
Closing Costs
$3,090

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$716

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $51,500
Loan Amount $154,500
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$16,154

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,552

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5203$1,595
$1,595
RENT COMPS ANALYSIS
  • 508 W Cotter Street Alvarado, TX 2
    • 3 beds 2 baths ∙ 1,754 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,754 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.87
    •  
  • 608 Sante Fe Street Alvarado, TX 1
    • 3 beds 2 baths ∙ 1,971 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,971 Sqft ∙ Built 1990
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.74
    •  
  • 123 Apache Trail Alvarado, TX 3
    • 4 beds 2 baths ∙ 1,556 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,556 Sqft ∙ Built 1999
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.03
    •  
PROPERTY LISTING DETAILS
Sharon Meza
Rj Williams & Company Re Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14498983
Last Updated: 01/17/2021
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