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511 Columbia Avenue Waxahachie, TX 75165

3 Beds 3 Baths 1,599 sqft Built 1999

$247,900

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $155.03
  • 3 Days on Market
  • MLS # : 14504436
  • Updated Date : 01/22/2021 at 07:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,599 sqft
  • Baths : 2 full , 1 half
Listing Agent

One 10 Realty Group

Listing Agent's Description

Move in Ready, fresh paint and updated light fixtures this 3 bedroom 2 bath home is located in a Great Location, Conveniently located close to schools healthcare, and walking distance to shopping, Large backyard with covered patio and shade trees. Split bedroom layout with a beautiful gas log fireplace in the living room. Bright open kitchen with plenty of counters and cabinet space. All appliances in kitchen to stay. You'll love the quick walking distance to Waxahachie's walking trails. Short commute to both Fort Worth and Dallas with quick access to both 35 and 287.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 75165

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $112k243k

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

Zip Code: 75165

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9841734

* 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
Wedgeworth Elementary School Primary Regular 749 45 6
Finley Junior High School Middle Regular 882 64 5
Waxahachie High School High Regular 1,985 138 4

Wedgeworth Elementary School

  • Education Level: Primary
  • # of students: 749
  • # of teachers: 45
6
GreatSchools Rating

Finley Junior High School

  • Education Level: Middle
  • # of students: 882
  • # of teachers: 64
5
GreatSchools Rating

Waxahachie High School

  • Education Level: High
  • # of students: 1,985
  • # of teachers: 138
4
GreatSchools Rating
 

$223,110$272,690$247,900

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$861
Property Tax -$538
Property Insurance -$120
Property Management Fees -$99
CASH FLOW
-$48

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$247,900

PROJECTED PRICE

$1,570

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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

PROJECTED ANNUAL CASH FLOW

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,444

INVESTMENT

$71,444

Down Payment
$61,975
Rehab Estimate
$5,750
Closing Costs
$3,719

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$861

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,975
Loan Amount $185,925
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$7,597

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,599

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5703$1,6954$1,7005$1,835
$1,835
RENT COMPS ANALYSIS
  • 511 Columbia Avenue Waxahachie, TX 2
    • 3 beds 3 baths ∙ 1,599 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,599 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.98
    •  
  • 312 Etta Avenue Waxahachie, TX 1
    • 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1998
    property image
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.00
    •  
  • 703 Dogwood Lane Waxahachie, TX 3
    • 3 beds 2 baths ∙ 1,729 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,729 Sqft ∙ Built 2000
    property image
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.98
    •  
  • 313 Leisure Lane Waxahachie, TX 4
    • 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 2004
    property image
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.04
    •  
  • 200 Bluebonnet Lane Waxahachie, TX 5
    • 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 2002
    property image
    LEASED 01/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,835
    • $0.98
    •  
PROPERTY LISTING DETAILS
Elizabeth Boles-terminella
One 10 Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504436
Last Updated: 01/22/2021
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