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5517 Baron Drive Joshua, TX 76058

3 Beds 2 Baths 2,112 sqft Built 2000

$179,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $84.75
  • 3 Days on Market
  • MLS # : 14471285
  • Updated Date : 11/13/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,112 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Great opportunity to own a large home on a beautiful piece of property almost an acre and a half. Quiet and serene, nice covered porch and back deck patio to watch the stars. Exceptionally large master bedroom and adjacent bathroom with a full walk thru closet. Nice sized kitchen with fridge included. Great entertaining spaces in living room and dining room. The property has a chicken coop complete with water and electricity, a storage barn, that is being used as a workshop, and two storage buildings.

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

Neighborhood: Grand Ranch

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $73k243k

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

Neighborhood: Grand Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8511734

* 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
Caddo Grove Elementary School Primary Regular 625 41 5
Loflin Middle School Middle Regular 811 52 6
Joshua Ninth Grade Campus High Regular 391 29 7

Caddo Grove Elementary School

  • Education Level: Primary
  • # of students: 625
  • # of teachers: 41
5
GreatSchools Rating

Loflin Middle School

  • Education Level: Middle
  • # of students: 811
  • # of teachers: 52
6
GreatSchools Rating

Joshua Ninth Grade Campus

  • Education Level: High
  • # of students: 391
  • # of teachers: 29
7
GreatSchools Rating
 

$161,100$196,900$179,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$660
Property Tax -$429
Property Insurance -$149
Property Management Fees -$99
CASH FLOW
$402

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$179,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.97%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,185

INVESTMENT

$53,185

Down Payment
$44,750
Rehab Estimate
$5,750
Closing Costs
$2,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $44,750
Loan Amount $134,250
See What Happens When You Reinvest Cash Flow

14.08

YEARS SAVED

$47,414

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,880

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,740
$1,740
RENT COMPS ANALYSIS
  • 5517 Baron Drive Joshua, TX 2
    • 3 beds 2 baths ∙ 2,112 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,112 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.82
    •  
  • 8400 County Road 1014 Joshua, TX 1
    • 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 2002
    property image
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.89
    •  
PROPERTY LISTING DETAILS
Casey Madison
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471285
Last Updated: 11/13/2020
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