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537 Pierce Street Waxahachie, TX 75165

4 Beds 4 Baths 3,336 sqft Built 2019

$489,900

List Price

$3,070

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $146.85
  • 3 Days on Market
  • MLS # : 14504413
  • Updated Date : 01/23/2021 at 08:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,336 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max Arbors

Listing Agent's Description

2020 build located in Waxahachie up and coming master planned community The Estates of North Grove. Premium lot not sharing border with any neighbor. Two fenced yards surrounded by the creek and alley with extra side drive for oversized vehicle or trailer. Epoxy garage floor with door to side drive. Master is down and other 3 bedrooms are upstairs, home also has a Study, Media room with surround sound, and a formal dining room. Many upgrades include soft close cabinets, quartz countertops, double oven, and stacked stone fireplace. Kitchen also features large island, huge walk in pantry and a butler's pantry. Wood look tile throughout main area. MB has a extra tall shower height. Home is like new, don't miss it.

SEE MORE

MARKET HIGHLIGHTS

  • 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: 75165

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $112k243k

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

Zip Code: 75165

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9841734

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$440,910$538,890$489,900

PURCHASE PRICE

$2,763$3,377$3,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,070
EXPENSES Loan Payment -$1,702
Property Tax -$819
Property Insurance -$220
HOA -$33
Property Management Fees -$99
CASH FLOW
$198

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.

$489,900

PROJECTED PRICE

$3,070

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.1%
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$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,574

INVESTMENT

$135,574

Down Payment
$122,475
Rehab Estimate
$5,750
Closing Costs
$7,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,702

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $122,475
Loan Amount $367,425
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$40,165

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,070

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $3,069

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$3,070
1$3,0702$3,125
$3,125
RENT COMPS ANALYSIS
  • 537 Pierce Street Waxahachie, TX 1
    • 4 beds 4 baths ∙ 3,336 Sqft ∙ Built 2019 4 beds 4 baths ∙ 3,336 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $3,070
    • $0.92
    •  
  • 108 Lakeshore Drive Waxahachie, TX 2
    • 4 beds 4 baths ∙ 3,406 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,406 Sqft ∙ Built 2005
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,125
    • $0.92
    •  
PROPERTY LISTING DETAILS
Donna Byers
Re/max Arbors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504413
Last Updated: 01/23/2021
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