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521 Faye Lane Springtown, TX 76082

3 Beds 2 Baths 1,613 sqft Built 1986

INVESTimate

$290,000

List Price

$1,520

$1,368 - $1,672

Rent Est.

$309,256  ( +6.64%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $179.79
  • 6 Days on Market
  • MLS # : 14416870
  • Updated Date : 08/21/2020 at 05:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,613 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Arlington

Listing Agent's Description

Breathtaking acreage located in the prestigious Collins North community, located within minutes of central Springtown. 3 bedroom, 2 bath home nestled on over an acre of gorgeous land surrounded by iron fencing and plenty of space for recreational parking and entertainment. Cozy brick fireplace with mantle, built in shelving, vaulted ceilings, and recessed lighting makes the living area a great place for hosting guests all year long. Chef’s kitchen with stainless steel appliances offers tons of counter and cabinet space with convenient access to dining area. Master suite boasts tray ceiling, dual vanities, exorbitant storage space, and large walk-in shower. Springtown ISD. Welcome HOME!

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 76082

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 76082

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8791734

* 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
Goshen Creek Elementary School Primary Regular 539 32 5
Springtown Middle School Middle Regular 530 35 6
Springtown High School High Regular 912 72 5

Goshen Creek Elementary School

  • Education Level: Primary
  • # of students: 539
  • # of teachers: 32
5
GreatSchools Rating

Springtown Middle School

  • Education Level: Middle
  • # of students: 530
  • # of teachers: 35
6
GreatSchools Rating

Springtown High School

  • Education Level: High
  • # of students: 912
  • # of teachers: 72
5
GreatSchools Rating
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$1,070
Property Tax -$603
Property Insurance -$120
Property Management Fees -$99
CASH FLOW
-$372

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.

$290,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.64%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$107

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,597

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,520
1$1,5202$1,800
$1,800
RENT COMPS ANALYSIS
  • 521 Faye Lane Springtown, TX 1
    • 3 beds 2 baths ∙ 1,613 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,613 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.94
    •  
  • 351 South Drive Springtown, TX 2
    • 4 beds 2 baths ∙ 1,820 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,820 Sqft ∙ Built 1977
    property image
    LEASED 07/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.99
    •  
PROPERTY LISTING DETAILS
Jean Christenberry
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416870
Last Updated: 08/21/2020
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