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6617 Inverness Street Abilene, TX 79606

3 Beds 2 Baths 1,638 sqft Built 2005

$209,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $127.59
  • 5 Days on Market
  • MLS # : 14495505
  • Updated Date : 01/06/2021 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,638 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Make your appointment today! This great property has a lot of great attributes. Located in the desirable Hampton Hills subdivision along the southern road, it is off of the main feeder road. As you stem into the front door you will be in the entry-landing area. The living room is spacious and mostly open to the dining and kitchen on the south side. To the left is the master, utility room and the entrance to the garage. The other 2 bedrooms are separated from the master by the living room. They have a restroom in the hall between them. The roof has just been replaced. The HVAC is new as well. The garage has a storage room built into it that is sheet rocked on the inside. Seller can remove it if buyer prefers.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Zip Code: 79606

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $78k236k

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

Zip Code: 79606

ZipNIR Market*CityMarket2015Year20112019 Q285090095010001050110011501200125013001350140014501500Rent in $8341531

* 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
Dyess Elementary School Primary Regular 511 30 8
Clack Middle School Middle Regular 818 58 4
Cooper High School High Regular 1,806 135 4

Dyess Elementary School

  • Education Level: Primary
  • # of students: 511
  • # of teachers: 30
8
GreatSchools Rating

Clack Middle School

  • Education Level: Middle
  • # of students: 818
  • # of teachers: 58
4
GreatSchools Rating

Cooper High School

  • Education Level: High
  • # of students: 1,806
  • # of teachers: 135
4
GreatSchools Rating
 

$188,100$229,900$209,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$726
Property Tax -$450
Property Insurance -$121
Property Management Fees -$99
CASH FLOW
$15

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 18% of earned rent to cover both maintenance and periods of vacancy.

$209,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 4.8%
Maintenance Year (1-5) 8.00%
Vacancy 9.90%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,135

INVESTMENT

$61,135

Down Payment
$52,250
Rehab Estimate
$5,750
Closing Costs
$3,135

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$726

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,250
Loan Amount $156,750
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$2,897

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,400

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,3953$1,3954$1,4105$1,495
$1,495
RENT COMPS ANALYSIS
  • 6617 Inverness Street Abilene, TX 4
    • 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.86
    •  
  • 3025 Sutherland Street Abilene, TX 1
    • 3 beds 2 baths ∙ 1,662 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,662 Sqft ∙ Built 2005
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.84
    •  
  • 3133 Sutherland Street Abilene, TX 2
    • 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 2006
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.79
    •  
  • 6633 Inverness Street Abilene, TX 3
    • 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 2005
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.84
    •  
  • 3101 Sutherland Street Abilene, TX 5
    • 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 2005
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.95
    •  
PROPERTY LISTING DETAILS
Chad Chaney
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 #: 14495505
Last Updated: 01/06/2021
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