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

510 Pepperbark Avenue Princeton, TX 75407

3 Beds 2 Baths 1,745 sqft Built 2020

$286,453

List Price

$1,640

$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 : $164.16
  • 3 Days on Market
  • MLS # : 14471287
  • Updated Date : 12/04/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,745 sqft
  • Baths : 2 full
Listing Agent

Gehan Homes Brokerage, Llc

Listing Agent's Description

Amazing Gehan 2 Story Home!!! Master Bedroom and Secondary Bedroom located on the first floor. Open floor plan to the Family Room and Study. Second floor has 3 oversized Bedrooms and a large Game Room. Beautifully Landscaped with a Sprinkler System.

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
 

$257,808$315,098$286,453

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,057
Property Tax -$597
Property Insurance -$128
HOA -$33
Property Management Fees -$99
CASH FLOW
-$274

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.

$286,453

PROJECTED PRICE

$1,640

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$77,910

INVESTMENT

$77,910

Down Payment
$71,613
Rehab Estimate
$2,000
Closing Costs
$4,297

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,057

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,613
Loan Amount $214,840
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$991

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,671

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6003$1,6404$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 510 Pepperbark Avenue Princeton, TX 3
    • 3 beds 2 baths ∙ 1,745 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,745 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.94
    •  
  • 1202 Lombardy Drive Princeton, TX 1
    • 3 beds 2 baths ∙ 1,619 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,619 Sqft ∙ Built 2017
    property image
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.99
    •  
  • 332 Lavaca Drive Princeton, TX 2
    • 4 beds 2 baths ∙ 1,668 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,668 Sqft ∙ Built 2017
    property image
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.96
    •  
  • 766 Bayonet Street Princeton, TX 4
    • 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 2019
    property image
    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
    property image
    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 #: 14471287
Last Updated: 12/04/2020
BESbswy