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6016 Berry Ridge Lane Joshua, TX 76058

3 Beds 2 Baths 1,718 sqft Built 2020

$329,000

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $191.50
  • 3 Days on Market
  • MLS # : 14486414
  • Updated Date : 12/18/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,718 sqft
  • Baths : 2 full
Listing Agent

Joni Alexander-mckee, Broker

Listing Agent's Description

Must see Charming Stone and Brick home on 1 acre w split fence. Home features custom built-ins, crown moulding, Vaulted and sculptured ceilings, decorative lighting and granite counter tops throughout, stainless steel appliances including refrigerator and a Custom Stone gas fireplace in living area. Breakfast nook features a beautiful wood accented vaulted ceiling. Master Bdrm features sculptured ceilings with crown moulding, and Master bath has a his and hers closet, glass enclosed shower has both an overhead rain head and shower head. Back covered patio is 27x12 with decorative lights, fan and a WBFP. Landscaped, Sod in front and 6ft on sides and back. Sprinkler system, gutters and decorative outside lights.

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

Neighborhood: Blackberry Springs

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Blackberry Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9261734

* 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
Godley Elementary School Primary Regular 627 42 3
Godley Middle School Middle Regular 282 22 5
Godley High School High Regular 526 42 4

Godley Elementary School

  • Education Level: Primary
  • # of students: 627
  • # of teachers: 42
3
GreatSchools Rating

Godley Middle School

  • Education Level: Middle
  • # of students: 282
  • # of teachers: 22
5
GreatSchools Rating

Godley High School

  • Education Level: High
  • # of students: 526
  • # of teachers: 42
4
GreatSchools Rating
 

$296,100$361,900$329,000

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,214
Property Tax -$789
Property Insurance -$126
Property Management Fees -$99
CASH FLOW
-$118

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.

$329,000

PROJECTED PRICE

$2,110

PROJECTED RENT

0.64%

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) 3.00%
Vacancy 6.69%
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-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,185

INVESTMENT

$89,185

Down Payment
$82,250
Rehab Estimate
$2,000
Closing Costs
$4,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,214

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,250
Loan Amount $246,750
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$7,948

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $2,113

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,110
$2,110
RENT COMPS ANALYSIS
  • 6016 Berry Ridge Lane Joshua, TX 2
    • 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $1.23
    •  
  • 6021 Berry Ridge Lane Joshua, TX 1
    • 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 2019
    property image
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.23
    •  
PROPERTY LISTING DETAILS
Armando Zavala
Joni Alexander-mckee, Broker
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14486414
Last Updated: 12/18/2020
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