Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

532 Deer Canyon Way Princeton, TX 75407

4 Beds 4 Baths 3,100 sqft Built 2020

$344,694

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $111.19
  • 4 Days on Market
  • MLS # : 14491591
  • Updated Date : 12/31/2020 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,100 sqft
  • Baths : 3 full , 1 half
Listing Agent

Meritage Homes Realty

Listing Agent's Description

Brand NEW energy-efficient home ready February 2021! Try a new recipe in the Bexar’s impressive kitchen, complete with a useful island and large pantry. Dusk cabinets with off-white quartz countertops, warm grey EVP flooring with gray beige tweed carpet in our Lush package. Surrounded by wooded open space and creeks, Brookside amenities include community pool, playground and creekside walking trails. Known for their energy-efficient features, our homes help you live a healthier and quieter lifestyle while saving thousands of dollars on utility bills.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Zip Code: 75407

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $114k243k

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

Zip Code: 75407

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8671734

* 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
Lacy Elementary School Primary Regular 695 47 6
Clark Junior High School Middle Regular 540 33 8
Princeton High School High Regular 1,048 67 6

Lacy Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 47
6
GreatSchools Rating

Clark Junior High School

  • Education Level: Middle
  • # of students: 540
  • # of teachers: 33
8
GreatSchools Rating

Princeton High School

  • Education Level: High
  • # of students: 1,048
  • # of teachers: 67
6
GreatSchools Rating
 

$310,225$379,163$344,694

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,272
Property Tax -$718
Property Insurance -$206
HOA -$33
Property Management Fees -$99
CASH FLOW
-$259

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$344,694

PROJECTED PRICE

$2,070

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 3.00%
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

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$93,344

INVESTMENT

$93,344

Down Payment
$86,174
Rehab Estimate
$2,000
Closing Costs
$5,170

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,272

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,174
Loan Amount $258,521
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,683

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $2,124

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$2,070
1$2,0702$2,1953$2,199
$2,199
RENT COMPS ANALYSIS
  • 532 Deer Canyon Way Princeton, TX 1
    • 4 beds 4 baths ∙ 3,100 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,100 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $0.67
    •  
  • 2072 Meadow Park Drive Princeton, TX 2
    • 5 beds 4 baths ∙ 3,393 Sqft ∙ Built 2008 5 beds 4 baths ∙ 3,393 Sqft ∙ Built 2008
    property image
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.65
    •  
  • 636 Maple Leaf Way Princeton, TX 3
    • 5 beds 3 baths ∙ 3,060 Sqft ∙ Built 2020 5 beds 3 baths ∙ 3,060 Sqft ∙ Built 2020
    property image
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,199
    • $0.72
    •  
PROPERTY LISTING DETAILS
Patrick Mcgrath
Meritage Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14491591
Last Updated: 12/31/2020
BESbswy