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605 S Knowles Drive Saginaw, TX 76179

4 Beds 4 Baths 2,783 sqft Built 2004

$334,900

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $120.34
  • 3 Days on Market
  • MLS # : 14470886
  • Updated Date : 11/14/2020 at 09:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,783 sqft
  • Baths : 3 full , 1 half
Listing Agent

Citiwide Properties Corp.

Listing Agent's Description

Beautiful custom upgraded home with large backyard in unique location. This is one of a kind location, across the street from local farmers market, dog park, tennis courts, running trails and large park. Stainless steel appliances including smart stove with wi-fi, dishwasher installed 2020, new carpet, new roof installed 2020, Nest thermostats, keyless entry, crown molding, dimmer switches, home intercom system, MIL suite with walk in closet and bathroom, Washer and dryer connections on first and second floors, backyard accessible through gates on both sides.

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

Neighborhood: Saginaw West Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Saginaw West Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191734

* 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
Saginaw Elementary School Primary Regular 416 26 5
Prairie Vista Middle School Middle Regular 866 53 5

Saginaw Elementary School

  • Education Level: Primary
  • # of students: 416
  • # of teachers: 26
5
GreatSchools Rating

Prairie Vista Middle School

  • Education Level: Middle
  • # of students: 866
  • # of teachers: 53
5
GreatSchools Rating
 

$301,410$368,390$334,900

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,236
Property Tax -$727
Property Insurance -$170
Property Management Fees -$99
CASH FLOW
-$492

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$334,900

PROJECTED PRICE

$1,740

PROJECTED RENT

0.52%

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) 8.00%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,499

INVESTMENT

$94,499

Down Payment
$83,725
Rehab Estimate
$5,750
Closing Costs
$5,024

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,725
Loan Amount $251,175
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$26

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,711

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7003$1,7404$1,8255$1,850
$1,850
RENT COMPS ANALYSIS
  • 605 S Knowles Drive Saginaw, TX 3
    • 4 beds 4 baths ∙ 2,479 Sqft ∙ Built 2004 4 beds 4 baths ∙ 2,479 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.70
    •  
  • 5216 Lava Rock Drive Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,582 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,582 Sqft ∙ Built 2006
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.66
    •  
  • 5337 Lava Rock Drive Fort Worth, TX 2
    • 3 beds 3 baths ∙ 2,376 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,376 Sqft ∙ Built 2006
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.72
    •  
  • 5824 Arena Circle Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,673 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,673 Sqft ∙ Built 2005
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.68
    •  
  • 1133 Hillwood Drive Saginaw, TX 5
    • 4 beds 3 baths ∙ 2,660 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,660 Sqft ∙ Built 2000
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.70
    •  
PROPERTY LISTING DETAILS
Jorge Ayala
Citiwide Properties Corp.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470886
Last Updated: 11/14/2020
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