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653 Dewey Cleburne, TX 76031

3 Beds 2 Baths 1,880 sqft Built 2021

$216,900

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $115.37
  • 6 Days on Market
  • MLS # : 14506879
  • Updated Date : 01/26/2021 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,880 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

WOW! Beautifully designed new construction. The space will amaze you in this home. Walk in to a large open concept plan with breakfast bar overlooking into dining space and oversized living area. Kitchen offers granite countertops, stainless appliances including dishwasher, stove and microwave, and large pantry with tons of cabinets. Easy maintenance ceramic tiling through the main areas of the home. Laminate wood in great size bedrooms complete with HUGE closets. Master bath offers 2 sinks, 2 closets, and a separate walk in shower. The backyard for this home is also very large with mature trees and a private setting. 2 car garage, spray foam insulation, low e windows, LED lighting. This one has it all.

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: 76031

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 76031

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8731734

* 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
Santa Fe Elementary School Primary Regular 433 33 2
Smith Middle School Middle Regular 775 53 4
Cleburne High School High Regular 1,653 110 4

Santa Fe Elementary School

  • Education Level: Primary
  • # of students: 433
  • # of teachers: 33
2
GreatSchools Rating

Smith Middle School

  • Education Level: Middle
  • # of students: 775
  • # of teachers: 53
4
GreatSchools Rating

Cleburne High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 110
4
GreatSchools Rating
 

$195,210$238,590$216,900

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$753
Property Tax -$534
Property Insurance -$136
Property Management Fees -$99
CASH FLOW
$378

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$216,900

PROJECTED PRICE

$1,900

PROJECTED RENT

0.88%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
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$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$59,479

INVESTMENT

$59,479

Down Payment
$54,225
Rehab Estimate
$2,000
Closing Costs
$3,254

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$753

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $54,225
Loan Amount $162,675
See What Happens When You Reinvest Cash Flow

13.08

YEARS SAVED

$46,130

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,893

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,7954$1,900
$1,900
RENT COMPS ANALYSIS
  • 653 Dewey Cleburne, TX 4
    • 3 beds 2 baths ∙ 1,880 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,880 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.01
    •  
  • 895 Chase Avenue Cleburne, TX 1
    • 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 2020
    LEASED 01/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.00
    •  
  • 1211 Davis Street Cleburne, TX 2
    • 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 2020
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.95
    •  
  • 223 Preston Drive Cleburne, TX 3
    • 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 2004
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.07
    •  
PROPERTY LISTING DETAILS
Gavin Hughes
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14506879
Last Updated: 01/26/2021
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