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PROPERTY INFO
FACTS
- Single Family
- Built In 1985
- Price/Sqft : $109.63
- 2 Days on Market
- MLS # : 14477938
- Updated Date : 11/28/2020 at 09:59
CONSTRUCTION
- Beds : 3
- Floor Size : 2,709 sqft
- Baths : 2 full
Listing Agent
Fathom Realty
Listing Agent's Description
Open House Sat and Sunday 1-3. Wonderfully updated large one story home on 4 lots (block 6 lots 1,2,3,4 -around .33 acre) with lots of room for the whole family. Recent updates include:new gutters 6 inch rear and 5 inch front; all oversize & upgraded, new siding-front and lighting paint, all double panes are new and foundation repair. This unique home is move in ready. There is one room upstairs that could be a 4th bedroom - office - storage. Lots of parking with workshop out back.
SEE MORE
- 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: 75407
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 75407
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,800 |
| EXPENSES | Loan Payment | -$1,096 |
| Property Tax | -$619 | |
| Property Insurance | -$184 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$197
|
||
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.
$297,000
PROJECTED PRICE
$1,800
PROJECTED RENT
0.61%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.78% |
| Appreciation Year (1-5) | 8.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.39% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$84,455
LOAN DETAILS
$1,096
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $74,250 |
| Loan Amount | $222,750 |
1.58
YEARS SAVED
$3,308
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,800
LIST RENT -
$0.66
LIST RENT PER SQFT
-
$1,978
COMP ESTIMATED VALUE -
$0.73
COMP AVG. RENT PER SQFT
Comps Range
-
518 N Main Street Princeton, TX 3
- 3 beds 2 baths ∙ 2,709 Sqft ∙ Built 1985 3 beds 2 baths ∙ 2,709 Sqft ∙ Built 1985
- Rent
- Rent Per SQFT
- $1,800
- $0.66
-
800 N 6th Street Princeton, TX 1
- 4 beds 3 baths ∙ 2,391 Sqft ∙ Built 1975 4 beds 3 baths ∙ 2,391 Sqft ∙ Built 1975
LEASED 02/28/20- Rent
- Rent Per SQFT
- $1,695
- $0.71
-
1122 Grace Drive Princeton, TX 2
- 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 2005
LEASED 07/22/20- Rent
- Rent Per SQFT
- $1,800
- $0.74
-
409 Jefferson Avenue Princeton, TX 4
- 4 beds 2 baths ∙ 2,624 Sqft ∙ Built 1965 4 beds 2 baths ∙ 2,624 Sqft ∙ Built 1965
LEASED 03/07/20- Rent
- Rent Per SQFT
- $1,950
- $0.74
PROPERTY LISTING DETAILS
Fathom Realty
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14477938
Last Updated: 11/28/2020
