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605 E Thoroughbred Willow Park, TX 76086

4 Beds 4 Baths 2,720 sqft Built 2021

$467,442

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $171.85
  • 2 Days on Market
  • MLS # : 14501275
  • Updated Date : 01/16/2021 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,720 sqft
  • Baths : 3 full , 1 half
Listing Agent

Village Homes

Listing Agent's Description

Amazing new construction, one story, four bedroom home in the beautiful Reserves at Trinity. Aledo ISD, Willow Park shops and restaurants within walking distance. Beautiful open floorpan, huge kitchen and island open to family room; 13 ft tall ceilings in open space; office, separate flex room for dining or library. Master suite has sitting area and is separate from three other bedrooms and two full baths on same level. Dedicated office for at-home work or schooling with storage. Gas cooking, solid surface countertops and custom cabinetry make the kitchen a gourmet's dream. Separate utility room and drop station. Luxurious finishes, Delta faucets, tons of natural light, spacious yard make this a must see!

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: 76086

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $84k339k

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

Zip Code: 76086

ZipNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500160017001800190020002100Rent in $7612103

* 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
Mcanally Intermediate School Primary Regular 785 43 7
Aledo Middle School Middle Regular 804 47 9
Aledo High School High Regular 1,193 72 7

Mcanally Intermediate School

  • Education Level: Primary
  • # of students: 785
  • # of teachers: 43
7
GreatSchools Rating

Aledo Middle School

  • Education Level: Middle
  • # of students: 804
  • # of teachers: 47
9
GreatSchools Rating

Aledo High School

  • Education Level: High
  • # of students: 1,193
  • # of teachers: 72
7
GreatSchools Rating
 

$420,698$514,186$467,442

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,624
Property Tax -$995
Property Insurance -$184
HOA -$54
Property Management Fees -$99
CASH FLOW
-$756

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.

$467,442

PROJECTED PRICE

$2,200

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.9%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$14k-$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,872

INVESTMENT

$125,872

Down Payment
$116,861
Rehab Estimate
$2,000
Closing Costs
$7,012

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,624

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $116,861
Loan Amount $350,582
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$10

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,203

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,2003$2,375
$2,375
RENT COMPS ANALYSIS
  • 605 E Thoroughbred Willow Park, TX 2
    • 4 beds 4 baths ∙ 2,720 Sqft ∙ Built 2021 4 beds 4 baths ∙ 2,720 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.81
    •  
  • 176 Overland Trail Willow Park, TX 1
    • 4 beds 3 baths ∙ 2,386 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,386 Sqft ∙ Built 2006
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.84
    •  
  • 922 Thistle Hill Trail Weatherford, TX 3
    • 4 beds 3 baths ∙ 3,051 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,051 Sqft ∙ Built 2004
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.78
    •  
PROPERTY LISTING DETAILS
Janet Bishop
Village Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501275
Last Updated: 01/16/2021
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