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537 Paloma Weatherford, TX 76087

3 Beds 2 Baths 2,080 sqft Built 2020

$299,900

List Price

$2,280

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $144.18
  • 3 Days on Market
  • MLS # : 14485306
  • Updated Date : 12/11/2020 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,080 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty, Llc

Listing Agent's Description

Awesome floorplan, open spaces with lots of room, open kitchen to Family room, isolated master bedroom, total of 3 bedrooms and 2 Baths, huge master closet with door from closet to Laundry room. Many upgrades, including granite, luxury vinyl flooring throughout, NO Carpet, also includes an installed doggy door, an absolute must see for this price and this new neighborhood! Ready for move in Dec 14, 2020.

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: 76087

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $104k342k

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

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11212171

* 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
Stephen F. Austin Elementary School Primary Regular 579 35 6
Stephen F. Austin Elementary School Middle Regular 579 35 6
Weatherford High School High Regular 2,238 148 6

Stephen F. Austin Elementary School

  • Education Level: Primary
  • # of students: 579
  • # of teachers: 35
6
GreatSchools Rating

Stephen F. Austin Elementary School

  • Education Level: Middle
  • # of students: 579
  • # of teachers: 35
6
GreatSchools Rating

Weatherford High School

  • Education Level: High
  • # of students: 2,238
  • # of teachers: 148
6
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,107
Property Tax -$638
Property Insurance -$147
HOA -$21
Property Management Fees -$99
CASH FLOW
$268

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$299,900

PROJECTED PRICE

$2,280

PROJECTED RENT

0.76%

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) 3.00%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,474

INVESTMENT

$81,474

Down Payment
$74,975
Rehab Estimate
$2,000
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$48,534

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $2,304

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,745
1$1,7452$2,2803$2,3004$2,4005$2,400
$2,400
RENT COMPS ANALYSIS
  • 537 Paloma Weatherford, TX 2
    • 3 beds 2 baths ∙ 2,080 Sqft ∙ Built 2020 3 beds 2 baths ∙ 2,080 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $1.10
    •  
  • 416 Lockwood Lane Weatherford, TX 1
    • 3 beds 2 baths ∙ 1,806 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,806 Sqft ∙ Built 2014
    property image
    LEASED 07/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.97
    •  
  • 1901 Clear Creek Drive Weatherford, TX 3
    • 4 beds 2 baths ∙ 2,021 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,021 Sqft ∙ Built 2019
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.14
    •  
  • 629 Zachary Drive Weatherford, TX 4
    • 4 beds 2 baths ∙ 2,137 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,137 Sqft ∙ Built 2018
    property image
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.12
    •  
  • 364 Lockwood Lane Weatherford, TX 5
    • 3 beds 2 baths ∙ 1,997 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,997 Sqft ∙ Built 2007
    property image
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.20
    •  
PROPERTY LISTING DETAILS
Debbie Ozee
Fathom Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14485306
Last Updated: 12/11/2020
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