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

509 Cortes Street Krugerville, TX 76227

4 Beds 2 Baths 1,746 sqft Built 1981

$259,900

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $148.85
  • 5 Days on Market
  • MLS # : 14490353
  • Updated Date : 12/23/2020 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,746 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

AWESOME UPDATED HOME SHOWS LIKE NEW, HUGE .37 ACRE OVERSIZED LOT, NICE SHOP! 4 BED 2 BATH HOME HAS BEEN LOADED WITH UPDATES AND BOASTS GREAT FEATURES SUCH AS NEW FLOORING, NEW SS KITCHEN APPS, GRANITE COUNTERTOPS IN KITCHEN AND BOTH BATHS, ENCLOSED GARAGE TO CREATING HUGE 4TH BED, NEW LIGHT FIXTURES, FRESH PAINT, AND LOTS MORE! EXTERIOR SHOWS GREAT FEATURES LIKE A HUGE COVERED STAINED DECK, 24X10 WORKSHOP, OVERSIZED BACKYARD WITH PLENTY OF ROOM TO ADD A POOL AND OTHER OUTDOOR UPDATES, AND A LARGE OVERSIZED CONCRETE DRIVEWAY FOR ANY WANTED ADDITIONS! OWNER HOLDS AN ACTIVE TREC LICENSE. NO FHA OFFERS UNITL 1-28-2021. SCHEDULE YOUR SHOWING NOW AND COME SEE IT 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

Neighborhood: Alemeda Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $87k336k

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

Neighborhood: Alemeda Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10292171

* 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
Brockett Elementary School Primary Regular 500 30 7
Aubrey Middle School Middle Regular 484 29 7
Aubrey High School High Regular 585 36 6

Brockett Elementary School

  • Education Level: Primary
  • # of students: 500
  • # of teachers: 30
7
GreatSchools Rating

Aubrey Middle School

  • Education Level: Middle
  • # of students: 484
  • # of teachers: 29
7
GreatSchools Rating

Aubrey High School

  • Education Level: High
  • # of students: 585
  • # of teachers: 36
6
GreatSchools Rating
 

$233,910$285,890$259,900

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 -$959
Property Tax -$478
Property Insurance -$128
Property Management Fees -$99
CASH FLOW
-$14

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.

$259,900

PROJECTED PRICE

$1,650

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$13,888

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
  • $0.95

    LIST RENT PER SQFT
  • $1,723

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6253$1,6504$1,725
$1,725
RENT COMPS ANALYSIS
  • 509 Cortes Street Krugerville, TX 3
    • 4 beds 2 baths ∙ 1,746 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,746 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.95
    •  
  • 418 Meadow Lane Aubrey, TX 1
    • 3 beds 4 baths ∙ 1,396 Sqft ∙ Built 2000 3 beds 4 baths ∙ 1,396 Sqft ∙ Built 2000
    property image
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.07
    •  
  • 23 Timbercrest Court Krugerville, TX 2
    • 3 beds 2 baths ∙ 1,586 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,586 Sqft ∙ Built 1996
    property image
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.02
    •  
  • 505 Amy Jo Circle Aubrey, TX 4
    • 3 beds 2 baths ∙ 1,982 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,982 Sqft ∙ Built 2000
    property image
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.87
    •  
PROPERTY LISTING DETAILS
Brad Mckissack
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14490353
Last Updated: 12/23/2020
BESbswy