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631 Tulane Drive Waxahachie, TX 75165

3 Beds 2 Baths 1,758 sqft Built 2000

INVESTimate

$245,000

List Price

$1,690

$1,521 - $1,859

Rent Est.

$267,173  ( +9.05%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $139.36
  • 1 Days on Market
  • MLS # : 14420314
  • Updated Date : 08/25/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,758 sqft
  • Baths : 2 full
Listing Agent

Century 21 Judge Fite Co.

Listing Agent's Description

ENCHANTED GARDENS, a preferred neighborhood close to shopping OPEN CONCEPT allows the family chef participation with-from guests and family. Well maintained home is ready for a downsize or first time buyer. Check out the remarkable privacy achieved with the backyard fencing and covered seating area. Living area has a recessed multi-media center, a corner electric-start gas-fired fireplace with a lovely mantle and a wall of tall windows that view of the outside quiet zone. Roof was replaced last year and features a heat efficient ridge vent. The home's dining area located in the over-sized kitchen currently has a table that will accommodate twelve diners. Notice how the crown molding adds to the ambiance.

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: 75165

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $112k243k

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

Zip Code: 75165

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9841734

* 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
Wedgeworth Elementary School Primary Regular 749 45 6
Finley Junior High School Middle Regular 882 64 5
Waxahachie High School High Regular 1,985 138 4

Wedgeworth Elementary School

  • Education Level: Primary
  • # of students: 749
  • # of teachers: 45
6
GreatSchools Rating

Finley Junior High School

  • Education Level: Middle
  • # of students: 882
  • # of teachers: 64
5
GreatSchools Rating

Waxahachie High School

  • Education Level: High
  • # of students: 1,985
  • # of teachers: 138
4
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$904
Property Tax -$532
Property Insurance -$129
Property Management Fees -$99
CASH FLOW
$27

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.

$245,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.05%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$15,442

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,710

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5503$1,6904$1,6955$1,925
$1,925
RENT COMPS ANALYSIS
  • 631 Tulane Drive Waxahachie, TX 3
    • 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.96
    •  
  • 312 Etta Avenue Waxahachie, TX 1
    • 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1998
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.00
    •  
  • 704 Purdue Drive Waxahachie, TX 2
    • 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 1997
    LEASED 05/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.95
    •  
  • 703 Dogwood Lane Waxahachie, TX 4
    • 3 beds 2 baths ∙ 1,729 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,729 Sqft ∙ Built 2000
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.98
    •  
  • 214 Solon Road Waxahachie, TX 5
    • 3 beds 2 baths ∙ 2,005 Sqft ∙ Built 1984 3 beds 2 baths ∙ 2,005 Sqft ∙ Built 1984
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.96
    •  
PROPERTY LISTING DETAILS
Raymond Caldwell
Century 21 Judge Fite Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14420314
Last Updated: 08/25/2020
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