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608 Wofford Street Athens, TX 75751

3 Beds 2 Baths 1,332 sqft Built 2020

$185,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
Built 2020 NEW CONSTRUCTION
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $138.89
  • 19 Days on Market
  • MLS # : 14495151
  • Updated Date : 01/21/2021 at 11:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,332 sqft
  • Baths : 2 full
Listing Agent

Robert C. Murray Realty

Listing Agent's Description

NEW CONSTRUCTIONS BUILT BY PARKS CONSTRUCTION A TRUSTED BUILDER IN EAST TEXAS FOR OVER 30 YEARS. HOME COMES WITH A ONE YEAR BUILDER WARRANTY AND A 2-10 BUILDER WARRANTY. HOME WILL HAVE GRANITE THROUGHOUT, S.S. APPLIANCES. ENERGY EFFICIENT HOME. EASY ACCESS TO RESTAURANTS, GROCERY STORE, AND SHOPPING. PROPERTY IS DIRECTLY ACROSS FROM THE SUBA PARK. YOU CAN SWIM, PICNIC, AND DIVE. HOME IS MOVE IN READY. BUILDER WILL ADD YARD, APPLIANCES, AND HVAC, WHEN CONTRACTED. COME SEE WHY ATHENS IS A GREAT PLACE TO WORK AND LIVE.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 75751

ZipNIR Market*CityMarket2010Year2000201970k80k90k100k110k120k130k140k150kPrice in $61k160k

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

Zip Code: 75751

No Data Available.

* 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
Athens High School High Regular 969 61 3

Athens High School

  • Education Level: High
  • # of students: 969
  • # of teachers: 61
3
GreatSchools Rating
 

$166,500$203,500$185,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$643
Property Tax -$439
Property Insurance -$101
Property Management Fees -$99
CASH FLOW
$228

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$185,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.82%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 4.4%
Maintenance Year (1-5) 3.00%
Vacancy 6.00%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$51,025

INVESTMENT

$51,025

Down Payment
$46,250
Rehab Estimate
$2,000
Closing Costs
$2,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$643

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $46,250
Loan Amount $138,750
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$25,822

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,505

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,3003$1,510
$1,510
RENT COMPS ANALYSIS
  • 608 Wofford Street Athens, TX 3
    • 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $1.13
    •  
  • 408 Jonathan Street Athens, TX 1
    • 3 beds 2 baths ∙ 1,090 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,090 Sqft ∙ Built 2020
    property image
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $1.10
    •  
  • 612 N Wofford Street Athens, TX 2
    • 3 beds 2 baths ∙ 1,117 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,117 Sqft ∙ Built 2020
    property image
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.16
    •  
PROPERTY LISTING DETAILS
Robert Murray
Robert C. Murray Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14495151
Last Updated: 01/21/2021
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