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5415 Cortez Drive De Cordova, TX 76049

3 Beds 2 Baths 2,146 sqft Built 1995

$305,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $142.12
  • 4 Days on Market
  • MLS # : 14468661
  • Updated Date : 11/14/2020 at 13:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,146 sqft
  • Baths : 2 full
Listing Agent

Cynthia Rae Stephens

Listing Agent's Description

Immaculate home on large lot and a quite street! Located in the highly sought-out DeCordova Bend Estates. This 3bed, 2bath, 2 car garage is boasting with modern updates. From tile plank flooring to granite countertops, shiplap to a white washed fireplace, modern light fixtures to a large island with bar seating! Great sized backyard and patio with more than enough room for a pool!. All DCBE membership amenities included: lake access, community center, golf, pool and so much more! A true must see, turn key, property! This won't last long!

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: 76049

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $96k250k

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

Zip Code: 76049

ZipNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* 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
Acton Elementary School Primary Regular 727 40 6
Acton Middle School Middle Regular 821 48 6
Granbury High School High Regular 1,414 115 6

Acton Elementary School

  • Education Level: Primary
  • # of students: 727
  • # of teachers: 40
6
GreatSchools Rating

Acton Middle School

  • Education Level: Middle
  • # of students: 821
  • # of teachers: 48
6
GreatSchools Rating

Granbury High School

  • Education Level: High
  • # of students: 1,414
  • # of teachers: 115
6
GreatSchools Rating
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,125
Property Tax -$413
Property Insurance -$151
HOA -$167
Property Management Fees -$99
CASH FLOW
-$106

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.

$305,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$9,387

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,007

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8503$2,1004$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 5415 Cortez Drive De Cordova, TX 2
    • 3 beds 2 baths ∙ 2,146 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,146 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.86
    •  
  • 4204 Mojave Drive De Cordova, TX 1
    • 3 beds 2 baths ∙ 2,077 Sqft ∙ Built 1990 3 beds 2 baths ∙ 2,077 Sqft ∙ Built 1990
    LEASED 11/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.84
    •  
  • 2800 Willow Ridge Circle Granbury, TX 3
    • 3 beds 2 baths ∙ 2,334 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,334 Sqft ∙ Built 2008
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.90
    •  
  • 3300 Bob White Drive Granbury, TX 4
    • 3 beds 2 baths ∙ 2,350 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,350 Sqft ∙ Built 1999
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.94
    •  
  • 6405 Sonora Drive Granbury, TX 5
    • 3 beds 2 baths ∙ 2,083 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,083 Sqft ∙ Built 2006
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.06
    •  
PROPERTY LISTING DETAILS
Nikki Light
Cynthia Rae Stephens
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14468661
Last Updated: 11/14/2020
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