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656 Chestnut Lane Saginaw, TX 76179

4 Beds 2 Baths 2,236 sqft Built 2006

INVESTimate

$297,000

List Price

$1,810

$1,629 - $1,991

Rent Est.

$322,304  ( +8.52%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $132.83
  • 5 Days on Market
  • MLS # : 14418632
  • Updated Date : 08/22/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,236 sqft
  • Baths : 2 full
Listing Agent

Century 21 Alliance Properties

Listing Agent's Description

Fabulously updated home in the heart of Saginaw, near parks, recreation center, library and schools!!! Split bedroom arrangement gives ample space for everyone. Open floorplan! Kitchen and baths have new granite countertops and new faucets! All bedrooms have walk in closets. New carpet and pad in all secondary bedrooms. New roof! Large, landscaped, fenced backyard offers 9 X 11 writer's shed with electricity. Could be an office, workshop, craft area, additional storage, etc. Easy access to North Loop 820, US-287, and I-35W. Make this your new home!

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

Neighborhood: Courts of Willow Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $115k259k

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

Neighborhood: Courts of Willow Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800Rent in $11261882

* 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
Willow Creek Elementary School Primary Regular 715 43 4
Creekview Middle School Middle Regular 801 47 7
Boswell High School High Regular 1,605 106 7

Willow Creek Elementary School

  • Education Level: Primary
  • # of students: 715
  • # of teachers: 43
4
GreatSchools Rating

Creekview Middle School

  • Education Level: Middle
  • # of students: 801
  • # of teachers: 47
7
GreatSchools Rating

Boswell High School

  • Education Level: High
  • # of students: 1,605
  • # of teachers: 106
7
GreatSchools Rating
 

$267,300$326,700$297,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,096
Property Tax -$645
Property Insurance -$156
HOA -$28
Property Management Fees -$99
CASH FLOW
-$214

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.

$297,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.52%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,455

INVESTMENT

$84,455

Down Payment
$74,250
Rehab Estimate
$5,750
Closing Costs
$4,455

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,096

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,250
Loan Amount $222,750
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$2,666

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,923

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7753$1,8104$1,8505$1,875
$1,875
RENT COMPS ANALYSIS
  • 656 Chestnut Lane Saginaw, TX 3
    • 4 beds 2 baths ∙ 2,236 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,236 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.81
    •  
  • 904 John Kennedy Drive Saginaw, TX 1
    • 3 beds 3 baths ∙ 2,198 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,198 Sqft ∙ Built 2010
    property image
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.80
    •  
  • 500 Leatherman Drive Saginaw, TX 2
    • 3 beds 3 baths ∙ 2,107 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,107 Sqft ∙ Built 2005
    property image
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.84
    •  
  • 949 Sherry Lane Saginaw, TX 4
    • 4 beds 2 baths ∙ 2,057 Sqft ∙ Built 2010 4 beds 2 baths ∙ 2,057 Sqft ∙ Built 2010
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.90
    •  
  • 940 Cloudlock Drive Saginaw, TX 5
    • 4 beds 2 baths ∙ 2,092 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,092 Sqft ∙ Built 2016
    property image
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.90
    •  
PROPERTY LISTING DETAILS
Starlyn Smith
Century 21 Alliance Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418632
Last Updated: 08/22/2020
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