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513 Big Creek Road Willow Park, TX 76087

3 Beds 2 Baths 1,886 sqft Built 1986

$325,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $172.32
  • 2 Days on Market
  • MLS # : 14476779
  • Updated Date : 12/05/2020 at 04:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,886 sqft
  • Baths : 2 full
Listing Agent

Ready Real Estate

Listing Agent's Description

In this quiet Willow Park Neighborhood, positioned on a generous, corner lot, we offer a 3-2-2 home with a bonus area for hobbies or home office! This home includes the following features: 2 AC units, top of the line, water heater and septic system, 2 security cameras, doorbell camera, motion sensors for all doors and bedroom windows, and glass break sensors which will all sync to your smart phone! Fresh paint, new lighting, a rock landscaped path to second outdoor patio, fire pit and a remodeled kitchen! Concrete countertops, copper sink, water filtration-softening system and open hardwood shelves are also luxuries to be enjoyed. This property is located in the desirable ISD of Aledo, only minutes from I20!

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: 76087

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k342k

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

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Coder Elementary School Primary Regular 425 27 7
Aledo Middle School Middle Regular 804 47 9
Aledo High School High Regular 1,193 72 7

Coder Elementary School

  • Education Level: Primary
  • # of students: 425
  • # of teachers: 27
7
GreatSchools Rating

Aledo Middle School

  • Education Level: Middle
  • # of students: 804
  • # of teachers: 47
9
GreatSchools Rating

Aledo High School

  • Education Level: High
  • # of students: 1,193
  • # of teachers: 72
7
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,199
Property Tax -$744
Property Insurance -$136
Property Management Fees -$99
CASH FLOW
-$288

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.

$325,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.58%

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) 8.00%
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

PROJECTED ANNUAL CASH FLOW

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

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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$1,512

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,895

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,7953$1,8904$1,9755$2,100
$2,100
RENT COMPS ANALYSIS
  • 513 Big Creek Road Willow Park, TX 3
    • 3 beds 2 baths ∙ 1,886 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,886 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $1.00
    •  
  • 104 Raven Bend Hudson Oaks, TX 1
    • 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 1996
    LEASED 06/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.02
    •  
  • 721 Queensway Road Willow Park, TX 2
    • 4 beds 2 baths ∙ 1,754 Sqft ∙ Built 1982 4 beds 2 baths ∙ 1,754 Sqft ∙ Built 1982
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.02
    •  
  • 1213 Thistle Hill Trail Weatherford, TX 4
    • 3 beds 2 baths ∙ 2,020 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,020 Sqft ∙ Built 2004
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.98
    •  
  • 180 Annetta Road Willow Park, TX 5
    • 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 1984 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 1984
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.00
    •  
PROPERTY LISTING DETAILS
Gayla Craft
Ready Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14476779
Last Updated: 12/05/2020
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