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6464 Shady Hill Circle Princeton, TX 75407

3 Beds 2 Baths 1,484 sqft Built 2004

$190,000

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $128.03
  • 3 Days on Market
  • MLS # : 14516593
  • Updated Date : 02/11/2021 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,484 sqft
  • Baths : 2 full
Listing Agent

Homesmart Stars

Listing Agent's Description

Newly updated home on ONE ACRE in fast growing city of Princeton, home has open floor plan, cozy family room. Kitchen is open to living room, microwave & dishwasher. Update includes paint, flooring, plumbing & light fixtures. Masters and 2 other bedrooms. Nice backyard with storage unit, huge land. Amazing location few minutes from HWY 380 and HWY 78, near shopping and restaurants. MINOR TOUCH-UP STILL GOING ON, EXCUSE ANY MESS.

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: 75407

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $114k243k

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

Zip Code: 75407

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8671734

* 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
Harper Elementary School Primary Regular 549 36 6
Clark Junior High School Middle Regular 540 33 8
Princeton High School High Regular 1,048 67 6

Harper Elementary School

  • Education Level: Primary
  • # of students: 549
  • # of teachers: 36
6
GreatSchools Rating

Clark Junior High School

  • Education Level: Middle
  • # of students: 540
  • # of teachers: 33
8
GreatSchools Rating

Princeton High School

  • Education Level: High
  • # of students: 1,048
  • # of teachers: 67
6
GreatSchools Rating
 

$171,000$209,000$190,000

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$660
Property Tax -$396
Property Insurance -$113
Property Management Fees -$99
CASH FLOW
$122

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.

$190,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,100

INVESTMENT

$56,100

Down Payment
$47,500
Rehab Estimate
$5,750
Closing Costs
$2,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$660

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $47,500
Loan Amount $142,500
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$18,350

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,425

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,390
$1,390
RENT COMPS ANALYSIS
  • 6464 Shady Hill Circle Princeton, TX 2
    • 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.94
    •  
  • 7456 County Road 990 Princeton, TX 1
    • 3 beds 3 baths ∙ 1,450 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,450 Sqft ∙ Built 1986
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.96
    •  
PROPERTY LISTING DETAILS
Ofer Levi
Homesmart Stars
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14516593
Last Updated: 02/11/2021
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