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613 Blue Horizon Way Argyle, TX 76226

3 Beds 3 Baths 2,178 sqft Built 2020

$428,254

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $196.63
  • 3 Days on Market
  • MLS # : 14485259
  • Updated Date : 12/11/2020 at 15:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,178 sqft
  • Baths : 2 full , 1 half
Listing Agent

Wendell Miller Realty

Listing Agent's Description

NEW VILLAGE BUILDERS MICHAELANGELO FLOOR PLAN. This home in Argyle ISD features a light & bright open single-story floor plan. Wood floors at main areas with luxurious carpet in bedrooms. Owner's suite tucked in the back of the three-bedroom and 2.5-bath floorplan, offers a spacious walk-in closet and separate tub and shower. 10 foot cabinets in kitchen with glass uppers & puck lights, White Quartz Counter tops, Gas cooktop, DBL Ovens, Covered patio.

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: 76226

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k417k

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

Zip Code: 76226

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262773

* 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
Argyle Intermediate School Primary Regular 295 17 8
Argyle Intermediate School Middle Regular 295 17 8
Argyle High School High Regular 711 50 8

Argyle Intermediate School

  • Education Level: Primary
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle Intermediate School

  • Education Level: Middle
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle High School

  • Education Level: High
  • # of students: 711
  • # of teachers: 50
8
GreatSchools Rating
 

$385,429$471,079$428,254

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$1,580
Property Tax -$852
Property Insurance -$153
HOA -$142
Property Management Fees -$99
CASH FLOW
-$455

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.

$428,254

PROJECTED PRICE

$2,370

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
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$2.0k$4.0k

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$115,487

INVESTMENT

$115,487

Down Payment
$107,064
Rehab Estimate
$2,000
Closing Costs
$6,424

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,580

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,064
Loan Amount $321,191
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$680

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $2,396

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,340
1$2,3402$2,3703$2,850
$2,850
RENT COMPS ANALYSIS
  • 613 Blue Horizon Way Argyle, TX 2
    • 3 beds 3 baths ∙ 2,178 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,178 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $1.09
    •  
  • 1500 Wren Street Argyle, TX 1
    • 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 2018
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $1.06
    •  
  • 405 Dallas Street Argyle, TX 3
    • 3 beds 3 baths ∙ 2,509 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,509 Sqft ∙ Built 2008
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.14
    •  
PROPERTY LISTING DETAILS
Wendell Miller
Wendell Miller Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14485259
Last Updated: 12/11/2020
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