Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

605 E Godley Avenue Godley, TX 76044

3 Beds 2 Baths 1,921 sqft Built 2018

$389,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $202.50
  • 2 Days on Market
  • MLS # : 14480376
  • Updated Date : 12/04/2020 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,921 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Say HELLO to this beautiful Craftsman home on over 5 acres in Godley ISD. Hard to find would truly be an understatement when it comes to this stunning 2018 build just a stones throw from sought after Godley schools with enough space for privacy and seclusion. Beautiful custom masonry work and tasteful color choices give this home awesome curb appeal. Rustic-modern interior finishes make the interior pop and inviting for family and guests just in time for the Holidays. The kitchen is also a showstopper due to the ornate custom backsplash, countertops, and cabinetry. Come take a peek before this one is G-O-N-E!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Zip Code: 76044

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $108k243k

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

Zip Code: 76044

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9821734

* 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
 

$350,100$427,900$389,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,435
Property Tax -$854
Property Insurance -$138
Property Management Fees -$99
CASH FLOW
-$626

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.

$389,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.1%
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$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$108,835

INVESTMENT

$108,835

Down Payment
$97,250
Rehab Estimate
$5,750
Closing Costs
$5,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,435

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,250
Loan Amount $291,750
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$13

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,902

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,900
$1,900
RENT COMPS ANALYSIS
  • 605 E Godley Avenue Godley, TX 2
    • 3 beds 2 baths ∙ 1,921 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,921 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.99
    •  
  • 222 Rees Avenue Godley, TX 1
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2018
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.99
    •  
PROPERTY LISTING DETAILS
Rhett Roden
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 #: 14480376
Last Updated: 12/04/2020
BESbswy