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620 Prairie Timber Road Burleson, TX 76028

4 Beds 3 Baths 2,834 sqft Built 2017

$569,000

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $200.78
  • 1 Days on Market
  • MLS # : 14537206
  • Updated Date : 03/20/2021 at 21:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,834 sqft
  • Baths : 3 full
Listing Agent

Key Real Estate

Listing Agent's Description

Beautiful Apex Custom Home in highly sought after Prairie Timber Estates. This newer home features a split layout with 4 bedrooms and 3 full baths. Perfect open layout for entertaining friends and family, especially with the extended patio for entertainment area in the back. Relax and enjoy the pool during the hot summer days. This property is located on an acre of land, Lots of room for play! Seller recently upgraded to a tankless water heater system, along with making the house, and pool smart phone compatible. A few new other improvements include a new water softening system, solar screens, and cool deck around the pool. Property is located in Joshua ISD. Schedule your showing before its gone!

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

Neighborhood: Prairie Timber Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $76k361k

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

Neighborhood: Prairie Timber Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Joshua Ninth Grade Campus High Regular 391 29 7
Joshua High School High Regular 995 75 5

Joshua Ninth Grade Campus

  • Education Level: High
  • # of students: 391
  • # of teachers: 29
7
GreatSchools Rating

Joshua High School

  • Education Level: High
  • # of students: 995
  • # of teachers: 75
5
GreatSchools Rating
 

$512,100$625,900$569,000

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,976
Property Tax -$1,364
Property Insurance -$191
HOA -$42
Property Management Fees -$99
CASH FLOW
-$1,662

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.

$569,000

PROJECTED PRICE

$2,010

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.5%
Maintenance Year (1-5) 8.00%
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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$156,535

INVESTMENT

$156,535

Down Payment
$142,250
Rehab Estimate
$5,750
Closing Costs
$8,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,976

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $142,250
Loan Amount $426,750
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$6,005

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,402

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,010
1$2,0102$2,2003$2,2004$2,3005$2,500
$2,500
RENT COMPS ANALYSIS
  • 620 Prairie Timber Road Burleson, TX 1
    • 4 beds 3 baths ∙ 2,834 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,834 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.71
    •  
  • 336 Tioga Street Burleson, TX 2
    • 5 beds 3 baths ∙ 2,646 Sqft ∙ Built 2009 5 beds 3 baths ∙ 2,646 Sqft ∙ Built 2009
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.83
    •  
  • 1817 Colorado Court Burleson, TX 3
    • 4 beds 3 baths ∙ 2,656 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,656 Sqft ∙ Built 2006
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.83
    •  
  • 1804 Colorado Court Burleson, TX 4
    • 5 beds 3 baths ∙ 2,674 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,674 Sqft ∙ Built 2006
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.86
    •  
  • 429 Delaware Street Burleson, TX 5
    • 4 beds 3 baths ∙ 2,881 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,881 Sqft ∙ Built 2015
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.87
    •  
PROPERTY LISTING DETAILS
Brittany Key
Key Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14537206
Last Updated: 03/20/2021
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