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636 Shade Tree Way 
Princeton, TX
75407
3 Beds 3 Baths 2,497 sqft
Built 2020
INVESTimate
$297,521
List Price
$80,843
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PROPERTY INFO
FACTS
- Built In 2020
- Price/Sqft : $119.15
- 2 Days on Market
- MLS # : 14420544
- Updated Date : 08/25/2020 at 22:00
CONSTRUCTION
- Beds : 3
- Floor Size : 2,497 sqft
- Baths : 2 full , 1 half
Listing Agent
Meritage Homes Realty
Listing Agent's Description
Brand NEW energy-efficient home ready Oct-Nov 2020! Unwind in the McKinnon’s main level primary suite, complete with a luxurious bath and spacious walk-in closet. Gray cabinets, salt 'n pepper granite, white geo backsplash, light gray tile and carpet, and oyster oak vinyl in our Posh package. Surrounded by wooded open space and creeks, Brookside amenities include community pool, playground and creekside walking trails. Known for their energy-efficient features, our homes help you live a healthier and quieter lifestyle while saving thousands of dollars on utility bills.
SEE MORE
- . 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: 75407
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 75407
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,960 |
| EXPENSES | Loan Payment | -$1,098 |
| Property Tax | -$620 | |
| Property Insurance | -$172 | |
| HOA | -$33 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$62
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.
$297,521
PROJECTED PRICE
$1,960
PROJECTED RENT
0.66%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.78% |
| Appreciation Year (1-5) | 8.36% |
| Maintenance Year (1-5) | 3.00% |
| Vacancy | 6.39% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$80,843
LOAN DETAILS
$1,098
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $74,380 |
| Loan Amount | $223,141 |
3.5
YEARS SAVED
$10,984
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,960
LIST RENT -
$0.78
LIST RENT PER SQFT
-
$2,004
COMP ESTIMATED VALUE -
$0.8
COMP AVG. RENT PER SQFT
Comps Range
-
636 Shade Tree Way Princeton, TX 5
- 3 beds 3 baths ∙ 2,497 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,497 Sqft ∙ Built 2020
- Rent
- Rent Per SQFT
- $1,960
- $0.78
-
417 Stonecreek Drive Princeton, TX 1
- 3 beds 3 baths ∙ 2,312 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,312 Sqft ∙ Built 2007
LEASED 09/30/19- Rent
- Rent Per SQFT
- $1,750
- $0.76
-
320 Crosscreek Princeton, TX 2
- 4 beds 3 baths ∙ 2,339 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,339 Sqft ∙ Built 2010
LEASED 07/22/19- Rent
- Rent Per SQFT
- $1,780
- $0.76
-
910 Spruce Lane Princeton, TX 3
- 4 beds 3 baths ∙ 2,240 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,240 Sqft ∙ Built 2019
LEASED 05/29/20- Rent
- Rent Per SQFT
- $1,850
- $0.83
-
751 Cascade Lane Princeton, TX 4
- 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2020
LEASED 03/27/20- Rent
- Rent Per SQFT
- $1,950
- $0.86
PROPERTY LISTING DETAILS
Meritage Homes Realty
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14420544
Last Updated: 08/25/2020
