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628 Partridge Drive Saginaw, TX 76131

3 Beds 2 Baths 1,736 sqft Built 2004

$199,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $114.63
  • 3 Days on Market
  • MLS # : 14503569
  • Updated Date : 01/23/2021 at 09:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,736 sqft
  • Baths : 2 full
Listing Agent

Briggs Freeman Sotheby's Int'l

Listing Agent's Description

Multiple Offers Received Single story home in Heather Ridge Estates with an open concept floor plan. Upon entering the home, the study on the right could potentially be a home office, and flows to the living space with a wood burning fireplace. Kitchen features an eat-in dining area with direct access to the patio and fully fenced backyard. The split bedroom configuration provides privacy, and the en-suite bathroom in the master is a retreat with double vanities, and separate tub and walk in shower. Schedule a showing today!

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: Heather Ridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $114k243k

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

Neighborhood: Heather Ridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11031734

* 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
High Country Elementary School Primary Regular 633 35 6
Highland Middle School Middle Regular 815 54 7
Saginaw High School High Regular 1,785 113 6

High Country Elementary School

  • Education Level: Primary
  • # of students: 633
  • # of teachers: 35
6
GreatSchools Rating

Highland Middle School

  • Education Level: Middle
  • # of students: 815
  • # of teachers: 54
7
GreatSchools Rating

Saginaw High School

  • Education Level: High
  • # of students: 1,785
  • # of teachers: 113
6
GreatSchools Rating
 

$179,100$218,900$199,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$691
Property Tax -$432
Property Insurance -$128
HOA -$21
Property Management Fees -$99
CASH FLOW
$199

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.

$199,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.2%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,485

INVESTMENT

$58,485

Down Payment
$49,750
Rehab Estimate
$5,750
Closing Costs
$2,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$691

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,750
Loan Amount $149,250
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$25,373

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,571

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4503$1,5704$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 628 Partridge Drive Saginaw, TX 3
    • 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.90
    •  
  • 600 Condor Trail Saginaw, TX 1
    • 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 2005
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.87
    •  
  • 820 Eagle Drive Saginaw, TX 2
    • 3 beds 2 baths ∙ 1,553 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,553 Sqft ∙ Built 2004
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.93
    •  
  • 720 Oriole Drive Saginaw, TX 4
    • 4 beds 3 baths ∙ 1,866 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,866 Sqft ∙ Built 2001
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 736 Cardinal Drive Saginaw, TX 5
    • 3 beds 2 baths ∙ 1,804 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,804 Sqft ∙ Built 2001
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.94
    •  
PROPERTY LISTING DETAILS
David Chicotsky
Briggs Freeman Sotheby's Int'l
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14503569
Last Updated: 01/23/2021
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