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512 Paloma Street Weatherford, TX 76087

4 Beds 2 Baths 1,800 sqft Built 2021

$299,485

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
February 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $166.38
  • 6 Days on Market
  • MLS # : 14518859
  • Updated Date : 02/18/2021 at 12:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,800 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Lillian Custom Homes in Lockwood. The Rose plan offers 4 Bedrooms, 2 Full Bathrooms, 2 Car Garage, Open Concept Living w Upgraded mantle Fireplace, & Covered Patio. Kitchen w Island, Granite Counters, Stainless Steel Appliances, & Walk-In Pantry overlooks the Dining & Living Rooms, great for entertaining! Master suite has 2 Sinks, Large Shower, & Walk-In Closet. This home has a covered front porch and your fence is included! Spray foam insulation, smart home, gutters, blinds, in-ground sprinklers, full sod, flowerbed, & two trees. Energy Efficient. Ask about our Hometown Heroes incentive. *This home is currently under construction. Photos are only a representation of this floor plan. Design choices may vary.

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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: 76087

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $104k342k

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

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11212171

* 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
Stephen F. Austin Elementary School Primary Regular 579 35 6
Stephen F. Austin Elementary School Middle Regular 579 35 6
Weatherford High School High Regular 2,238 148 6

Stephen F. Austin Elementary School

  • Education Level: Primary
  • # of students: 579
  • # of teachers: 35
6
GreatSchools Rating

Stephen F. Austin Elementary School

  • Education Level: Middle
  • # of students: 579
  • # of teachers: 35
6
GreatSchools Rating

Weatherford High School

  • Education Level: High
  • # of students: 2,238
  • # of teachers: 148
6
GreatSchools Rating
 

$269,537$329,434$299,485

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,040
Property Tax -$637
Property Insurance -$131
HOA -$25
Property Management Fees -$99
CASH FLOW
$97

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$299,485

PROJECTED PRICE

$2,030

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 3.00%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$81,364

INVESTMENT

$81,364

Down Payment
$74,871
Rehab Estimate
$2,000
Closing Costs
$4,492

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,040

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,871
Loan Amount $224,614
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$21,028

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,989

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8503$1,9004$2,0305$2,400
$2,400
RENT COMPS ANALYSIS
  • 512 Paloma Street Weatherford, TX 4
    • 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 2021 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $1.13
    •  
  • 2114 Quail Ridge Drive Weatherford, TX 1
    • 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 2002
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.09
    •  
  • 2109 Valley Drive Weatherford, TX 2
    • 4 beds 2 baths ∙ 1,777 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,777 Sqft ∙ Built 2003
    property image
    LEASED 02/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.04
    •  
  • 628 Ethan Drive Weatherford, TX 3
    • 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 2016
    property image
    LEASED 02/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.09
    •  
  • 364 Lockwood Lane Weatherford, TX 5
    • 3 beds 2 baths ∙ 1,997 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,997 Sqft ∙ Built 2007
    property image
    LEASED 01/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.20
    •  
PROPERTY LISTING DETAILS
Ashlee Mcghee
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518859
Last Updated: 02/18/2021
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