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645 Prairie Avenue Aledo, TX 76008

4 Beds 4 Baths 3,289 sqft Built 2018

$529,000

List Price

$2,710

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $160.84
  • 2 Days on Market
  • MLS # : 14477363
  • Updated Date : 11/28/2020 at 03:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,289 sqft
  • Baths : 3 full , 1 half
Listing Agent

Indwell

Listing Agent's Description

From the moment you open the mahogany and Flemish glass front door you'll understand the draw of this dreamy 4 bedroom, 3.5 bath modern farmhouse. Hand scraped Red Oak flooring installed all of downstairs, on the stairs themselves, upstairs hall walkway, and game room. All brick construction, no siding. Lighting fixtures will have you in awe! The kitchen is open, convenient to entertaining, and includes a commercial Thermador gas range. Enjoy the playground, covered common area, 6 plus miles of mountain bike trails, and dog park all across the street! Parks of Aledo Point Vista is a unique and desirable new community in Aledo ISD. Please see 3D view link to fully internalize the details of this stunning home.

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

Zip Code: 76008

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k393k

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

Zip Code: 76008

ZipNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262811

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$476,100$581,900$529,000

PURCHASE PRICE

$2,439$2,981$2,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,710
EXPENSES Loan Payment -$1,952
Property Tax -$1,185
Property Insurance -$217
HOA -$200
Property Management Fees -$99
CASH FLOW
-$943

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.

$529,000

PROJECTED PRICE

$2,710

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$145,935

INVESTMENT

$145,935

Down Payment
$132,250
Rehab Estimate
$5,750
Closing Costs
$7,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,952

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $132,250
Loan Amount $396,750
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$22

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,710

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,993

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,7103$2,9754$3,200
$3,200
RENT COMPS ANALYSIS
  • 645 Prairie Avenue Aledo, TX 2
    • 4 beds 4 baths ∙ 3,289 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,289 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,710
    • $0.82
    •  
  • 424 Valley View Court Aledo, TX 1
    • 4 beds 3 baths ∙ 2,999 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,999 Sqft ∙ Built 2003
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.83
    •  
  • 708 Paintbrush Court Aledo, TX 3
    • 5 beds 3 baths ∙ 3,187 Sqft ∙ Built 2017 5 beds 3 baths ∙ 3,187 Sqft ∙ Built 2017
    property image
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,975
    • $0.93
    •  
  • 409 Prairie Run Aledo, TX 4
    • 4 beds 4 baths ∙ 3,316 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,316 Sqft ∙ Built 2014
    property image
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.97
    •  
PROPERTY LISTING DETAILS
Eric Daniels
Indwell
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14477363
Last Updated: 11/28/2020
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