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528 Jay Street Shady Shores, TX 76208

3 Beds 3 Baths 1,572 sqft Built 2006

$324,900

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $206.68
  • 3 Days on Market
  • MLS # : 14481343
  • Updated Date : 12/04/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,572 sqft
  • Baths : 2 full , 1 half
Listing Agent

Josh Deshong Real Estate, Llc

Listing Agent's Description

Welcome to your new Lake House or Lake Home. RARE FIND, this home backs right up to Lake Lewisville and Corps of Engineers managed property. This is a huge benefit, as the Corps of Engineers will help maintain and protect this area for years to come. As the homeowner, bring your kayak and canoe then enjoy the exclusive Lake Lifestyle right in your backyard. The home itself has been meticulously maintained and cared for. New roof and gutters is a feature anyone will appreciate. Comfortable layout, with a back porch overlooking the beauty of what you can soon own. Enjoy the same view from the Master Bedroom and Bathroom. Schedule a showing today!

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: 76208

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $115k276k

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

Zip Code: 76208

ZipNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8701937

* 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
Olive Stephens Elementary School Primary Regular 536 38 6
Bettye Myers Middle School Middle Unknown 828 54 NA
Billy Ryan High School High Regular 2,409 170 5

Olive Stephens Elementary School

  • Education Level: Primary
  • # of students: 536
  • # of teachers: 38
6
GreatSchools Rating

Bettye Myers Middle School

  • Education Level: Middle
  • # of students: 828
  • # of teachers: 54
NA
GreatSchools Rating

Billy Ryan High School

  • Education Level: High
  • # of students: 2,409
  • # of teachers: 170
5
GreatSchools Rating
 

$292,410$357,390$324,900

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,199
Property Tax -$563
Property Insurance -$118
Property Management Fees -$99
CASH FLOW
-$229

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.

$324,900

PROJECTED PRICE

$1,750

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.8%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,849

INVESTMENT

$91,849

Down Payment
$81,225
Rehab Estimate
$5,750
Closing Costs
$4,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% 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 $81,225
Loan Amount $243,675
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,019

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,955

    COMP ESTIMATED VALUE
  • $1.24

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7503$1,9504$2,300
$2,300
RENT COMPS ANALYSIS
  • 528 Jay Street Shady Shores, TX 2
    • 3 beds 3 baths ∙ 1,572 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,572 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.11
    •  
  • 408 W Shady Oaks Circle Shady Shores, TX 1
    • 4 beds 2 baths ∙ 1,246 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,246 Sqft ∙ Built 1997
    property image
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.36
    •  
  • 3404 Evening Wind Road Denton, TX 3
    • 3 beds 2 baths ∙ 1,847 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,847 Sqft ∙ Built 2010
    property image
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.06
    •  
  • 218 Harrison Court Shady Shores, TX 4
    • 4 beds 2 baths ∙ 1,758 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,758 Sqft ∙ Built 2005
    property image
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.31
    •  
PROPERTY LISTING DETAILS
Michael Dobbs
Josh Deshong Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481343
Last Updated: 12/04/2020
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