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606 Myers Terrell, TX 75160

4 Beds 2 Baths 1,850 sqft Built 2020

$235,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $127.03
  • 2 Days on Market
  • MLS # : 14452261
  • Updated Date : 11/07/2020 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,850 sqft
  • Baths : 2 full
Listing Agent

Amelia Valdez City Real Estate

Listing Agent's Description

NEW CONSTRUCTION 4 BEDROOM 2 BATH OPEN LIVING. CLOSE TO HISTORIC DOWNTOWN MINUTES FROM PRIME SHOPPING AND ENTERTAIMENT. SHOOLS, PARKS AND RECREATION IN WALKING DISTANCE TO THE HOME . THE YARD HAS NICE MATURE TREES AND FENCED WITH A WOOD FENCE.

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: 75160

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $79k243k

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

Zip Code: 75160

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Seagoville North Elementary School Primary Unknown 713 41 NA
Seagoville Middle School Middle Regular 1,151 68 3
Seagoville High School High Regular 1,289 77 3

Seagoville North Elementary School

  • Education Level: Primary
  • # of students: 713
  • # of teachers: 41
NA
GreatSchools Rating

Seagoville Middle School

  • Education Level: Middle
  • # of students: 1,151
  • # of teachers: 68
3
GreatSchools Rating

Seagoville High School

  • Education Level: High
  • # of students: 1,289
  • # of teachers: 77
3
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$867
Property Tax -$605
Property Insurance -$134
Property Management Fees -$99
CASH FLOW
-$56

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.

$235,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.2%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,275

INVESTMENT

$64,275

Down Payment
$58,750
Rehab Estimate
$2,000
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$7,019

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,642

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,6503$1,7954$1,7955$1,795
$1,795
RENT COMPS ANALYSIS
  • 606 Myers Terrell, TX 2
    • 4 beds 2 baths ∙ 1,850 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,850 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
  • 515 Mt Olive Street Terrell, TX 1
    • 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 2019
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.85
    •  
  • 115 Brooks Street Terrell, TX 3
    • 3 beds 3 baths ∙ 1,986 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,986 Sqft ∙ Built 2018
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.90
    •  
  • 104 Brooks Drive Terrell, TX 4
    • 3 beds 3 baths ∙ 1,986 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,986 Sqft ∙ Built 2018
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.90
    •  
  • 105 Brooks Street Terrell, TX 5
    • 3 beds 3 baths ∙ 1,998 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,998 Sqft ∙ Built 2018
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.90
    •  
PROPERTY LISTING DETAILS
Amelia Valdez
Amelia Valdez City Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14452261
Last Updated: 11/07/2020
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