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600 Redwood Drive Greenville, TX 75402

3 Beds 2 Baths 1,812 sqft Built 2019

$235,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
December 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $129.69
  • 8 Days on Market
  • MLS # : 14485460
  • Updated Date : 12/13/2020 at 11:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,812 sqft
  • Baths : 2 full
Listing Agent

Century 21 First Group

Listing Agent's Description

Only 2 years old! Well maintained Altura home, Cypress floorplan. Split bedrooms, open floorplan and office. Wood look tile in living and wet areas, granite countertops, gas range. Master suite has large walk in closet, garden tub, dbl sinks, separate shower. Ample size guest bedrooms with full bath. Large corner lot with privacy fence! Located conveniently to school, L-3, shops and I-30. Priced to sell. Won't last long, so make your appointment to view this home fast!

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: 75402

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $68k243k

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

Zip Code: 75402

ZipNIR Market*Market2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Lamar Elementary School Primary Regular 594 39 5
Greenville Middle School Middle Regular 687 46 5
Greenville High School High Regular 1,077 89 5

Lamar Elementary School

  • Education Level: Primary
  • # of students: 594
  • # of teachers: 39
5
GreatSchools Rating

Greenville Middle School

  • Education Level: Middle
  • # of students: 687
  • # of teachers: 46
5
GreatSchools Rating

Greenville High School

  • Education Level: High
  • # of students: 1,077
  • # of teachers: 89
5
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$867
Property Tax -$528
Property Insurance -$132
HOA -$10
Property Management Fees -$99
CASH FLOW
-$96

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.

$235,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.0%
Maintenance Year (1-5) 3.00%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,275

INVESTMENT

$64,275

Down Payment
$58,750
Rehab Estimate
$2,000
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$5,090

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,690

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,540
1$1,5402$1,5753$1,6954$1,7255$1,725
$1,725
RENT COMPS ANALYSIS
  • 600 Redwood Drive Greenville, TX 1
    • 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.85
    •  
  • 603 Redwood Drive Greenville, TX 2
    • 3 beds 2 baths ∙ 1,621 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,621 Sqft ∙ Built 2019
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.97
    •  
  • 117 Arrowhead Drive Greenville, TX 3
    • 4 beds 2 baths ∙ 1,880 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,880 Sqft ∙ Built 2006
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.90
    •  
  • 632 Teakwood Drive Greenville, TX 4
    • 3 beds 2 baths ∙ 1,890 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,890 Sqft ∙ Built 2017
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.91
    •  
  • 619 Beechwood Drive Greenville, TX 5
    • 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 2017
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.95
    •  
PROPERTY LISTING DETAILS
Lq Marshall
Century 21 First Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14485460
Last Updated: 12/13/2020
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