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622 Newchester Drive Roanoke, TX 76262

4 Beds 4 Baths 2,947 sqft Built 2013

$399,900

List Price

$2,670

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $135.70
  • 7 Days on Market
  • MLS # : 14460557
  • Updated Date : 11/14/2020 at 09:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,947 sqft
  • Baths : 3 full , 1 half
Listing Agent

Sophie Tel Diaz Real Estate

Listing Agent's Description

Buyers and Agents: Accepting best and final offers by noon today, 11_14! Please call Cheryl if questions. Large front porch, balcony create beautiful curb appeal. Light, bright Living Room with soaring ceilings boasts centered gas fireplace open to Eat-in Kitchen, featuring granite countertops, ss appliances, and gas cooktop. Island breakfast bar creates more seating. Owner's Retreat on back of home with ensuite bath featuring granite countertops, separate vanities, and garden tub. Upstairs features 3 beds, 2 baths, Gameroom with balcony, and large Media Room. Backyard featuring a large covered patio and plenty of yard space for kids to play! Two car oversized garage plus workshop for Dad! This is a must see!

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

Neighborhood: Briarwyck

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k464k

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

Neighborhood: Briarwyck

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262946

* 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
Roanoke Elementary School Primary Regular 731 45 6
Medlin Middle School Middle Regular 1,078 65 8

Roanoke Elementary School

  • Education Level: Primary
  • # of students: 731
  • # of teachers: 45
6
GreatSchools Rating

Medlin Middle School

  • Education Level: Middle
  • # of students: 1,078
  • # of teachers: 65
8
GreatSchools Rating
 

$359,910$439,890$399,900

PURCHASE PRICE

$2,403$2,937$2,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,670
EXPENSES Loan Payment -$1,475
Property Tax -$697
Property Insurance -$197
HOA -$45
Property Management Fees -$99
CASH FLOW
$156

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.

$399,900

PROJECTED PRICE

$2,670

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.2%
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

PROJECTED ANNUAL CASH FLOW

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

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$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,475

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$38,035

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,670

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,851

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,6503$2,6704$2,8005$3,000
$3,000
RENT COMPS ANALYSIS
  • 622 Newchester Drive Roanoke, TX 3
    • 4 beds 4 baths ∙ 2,947 Sqft ∙ Built 2013 4 beds 4 baths ∙ 2,947 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,670
    • $0.91
    •  
  • 624 Allister Court Roanoke, TX 1
    • 4 beds 3 baths ∙ 2,947 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,947 Sqft ∙ Built 2013
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.90
    •  
  • 113 Silver Rock Drive Trophy Club, TX 2
    • 4 beds 3 baths ∙ 2,627 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,627 Sqft ∙ Built 1998
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.01
    •  
  • 1398 Caspian Drive Roanoke, TX 4
    • 4 beds 4 baths ∙ 2,893 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,893 Sqft ∙ Built 2014
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.97
    •  
  • 989 Bentley Drive Roanoke, TX 5
    • 4 beds 4 baths ∙ 3,032 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,032 Sqft ∙ Built 2015
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.99
    •  
PROPERTY LISTING DETAILS
Sophie Diaz
Sophie Tel Diaz Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14460557
Last Updated: 11/14/2020
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