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617 Cattle Baron Road Fairview, TX 75069

3 Beds 3 Baths 2,854 sqft Built 2005

$599,900

List Price

$3,030

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $210.20
  • 3 Days on Market
  • MLS # : 14499084
  • Updated Date : 01/15/2021 at 19:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,854 sqft
  • Baths : 2 full , 1 half
Listing Agent

Pinnacle Realty Advisors

Listing Agent's Description

GREAT LOCATION ON GOLF COURSE & CUL DE SAC - K HOV PRESTWICK PLAN, OPEN SPACIOUS with many extras. Incredible lot location, Offers a view of trees and the course and greenbelt from the large covered patio, yet offers nice distance from golfers. 3 large bedrooms, 2.5 baths and spacious office. Sitting area in master with view of golf course. Updated light fixtures and ceiling fans, Beautiful white stone fireplace. Wood Bifold shutters most windows. Stained Wood Garage doors, Tandem Garage, 3 spaces, can park truck. Carrier AC units 2015, Water Heater Dec 2020, garbage Disposal Dec 2020, Roof 2018, double ovens Dec 2019. 2 Refrigerators, W&D, Large formal DR table and 8 chairs, bar stools may remain with home.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Zip Code: 75069

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k472k

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

Zip Code: 75069

ZipNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10122551

* 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
Puster Elementary School Primary Regular 366 26 9
Sloan Creek Intermediate School Middle Regular 679 43 10
Lovejoy High School High Regular 1,259 90 10

Puster Elementary School

  • Education Level: Primary
  • # of students: 366
  • # of teachers: 26
9
GreatSchools Rating

Sloan Creek Intermediate School

  • Education Level: Middle
  • # of students: 679
  • # of teachers: 43
10
GreatSchools Rating

Lovejoy High School

  • Education Level: High
  • # of students: 1,259
  • # of teachers: 90
10
GreatSchools Rating
 

$539,910$659,890$599,900

PURCHASE PRICE

$2,727$3,333$3,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,030
EXPENSES Loan Payment -$2,084
Property Tax -$1,086
Property Insurance -$192
HOA -$226
Property Management Fees -$99
CASH FLOW
-$656

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$599,900

PROJECTED PRICE

$3,030

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,724

INVESTMENT

$164,724

Down Payment
$149,975
Rehab Estimate
$5,750
Closing Costs
$8,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,084

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $149,975
Loan Amount $449,925
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$351

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,030

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $3,101

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$3,0303$3,1004$3,500
$3,500
RENT COMPS ANALYSIS
  • 617 Cattle Baron Road Fairview, TX 2
    • 3 beds 3 baths ∙ 2,854 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,854 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,030
    • $1.06
    •  
  • 473 Inverness Drive Fairview, TX 1
    • 3 beds 3 baths ∙ 2,631 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,631 Sqft ∙ Built 2005
    property image
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.06
    •  
  • 331 Kentucky Lane Fairview, TX 3
    • 4 beds 4 baths ∙ 3,000 Sqft ∙ Built 1988 4 beds 4 baths ∙ 3,000 Sqft ∙ Built 1988
    property image
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.03
    •  
  • 1159 Red Oak Trail Fairview, TX 4
    • 4 beds 4 baths ∙ 3,003 Sqft ∙ Built 2008 4 beds 4 baths ∙ 3,003 Sqft ∙ Built 2008
    property image
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.17
    •  
PROPERTY LISTING DETAILS
Bonnie Short
Pinnacle Realty Advisors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14499084
Last Updated: 01/15/2021
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