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602 College Street Crandall, TX 75114

4 Beds 2 Baths 1,423 sqft Built 1999

$195,000

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $137.03
  • 2 Days on Market
  • MLS # : 14517713
  • Updated Date : 02/13/2021 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,423 sqft
  • Baths : 2 full
Listing Agent

United Real Estate

Listing Agent's Description

This MOVE-IN READY brick beauty has everything on your list: Open floorplan? Check. Vaulted ceilings? Check. Hardwood floors, unique designer details & landscaped outdoor space? Check, check & check! The main living area includes an open-concept family room, dining room (access to patio) & kitchen (cabinet space, breakfast bar). The big primary bedroom has tray ceilings & an ensuite. There are ceiling fans in every room & a 4th bedroom has been built into the back of the garage. Outside, you have a huge backyard & covered patio perfect for entertaining. This is a wonderful, safe, walkable neighborhood in a small town without a cumbersome HOA. You’ll be close to shopping and can jump on the highway in no time.

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: 75114

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $107k243k

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

Zip Code: 75114

ZipNIR Market*CityMarket2010Year20002019 Q21150120012501300135014001450150015501600165017001750Rent in $11261767

* 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
Nola Kathryn Wilson Elementary School Primary Regular 539 33 5
Crandall Middle School Middle Regular 746 47 5
Crandall High School High Regular 921 52 5

Nola Kathryn Wilson Elementary School

  • Education Level: Primary
  • # of students: 539
  • # of teachers: 33
5
GreatSchools Rating

Crandall Middle School

  • Education Level: Middle
  • # of students: 746
  • # of teachers: 47
5
GreatSchools Rating

Crandall High School

  • Education Level: High
  • # of students: 921
  • # of teachers: 52
5
GreatSchools Rating
 

$175,500$214,500$195,000

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$677
Property Tax -$492
Property Insurance -$109
Property Management Fees -$99
CASH FLOW
-$58

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.

$195,000

PROJECTED PRICE

$1,320

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.4%
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$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$677

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$4,306

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,398

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,320
1$1,3202$1,5503$1,5504$1,6255$1,650
$1,650
RENT COMPS ANALYSIS
  • 602 College Street Crandall, TX 1
    • 4 beds 2 baths ∙ 1,423 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,423 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.93
    •  
  • 112 Angelina Drive Crandall, TX 2
    • 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 2002
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.02
    •  
  • 107 Amy Drive Crandall, TX 3
    • 4 beds 2 baths ∙ 1,643 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,643 Sqft ∙ Built 1984
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.94
    •  
  • 209 Angelina Drive Crandall, TX 4
    • 4 beds 2 baths ∙ 1,676 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,676 Sqft ∙ Built 2004
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.97
    •  
  • 205 Rolling Ridge Court Crandall, TX 5
    • 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 1990
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
PROPERTY LISTING DETAILS
William Moomaw
United Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14517713
Last Updated: 02/13/2021
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