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665 Rapid Way Crowley, TX 76036

4 Beds 2 Baths 2,098 sqft Built 2006

$239,999

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $114.39
  • 3 Days on Market
  • MLS # : 14513770
  • Updated Date : 02/12/2021 at 19:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,098 sqft
  • Baths : 2 full
Listing Agent

Re/max Associates Of Mansfield

Listing Agent's Description

Home has fresh paint, luxury vinyl flooring, large concrete back patio, storage shed, and firepit area. 2 living areas, 2 dining areas and a split bedroom floor plan. Backs up to an empty field! Crowley ISD has an amazing new Career and Tech Education (CTE) Center next to the Sewell Agricultural Science Center! Schedule your showing today! Will go quick!

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: Creekside

NeighborhoodNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240kPrice in $122k243k

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

Neighborhood: Creekside

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* 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
S.h. Crowley Intermediate School Primary Regular 456 26 4
S.h. Crowley Intermediate School Middle Regular 456 26 4
Crowley High School High Regular 2,033 150 4

S.h. Crowley Intermediate School

  • Education Level: Primary
  • # of students: 456
  • # of teachers: 26
4
GreatSchools Rating

S.h. Crowley Intermediate School

  • Education Level: Middle
  • # of students: 456
  • # of teachers: 26
4
GreatSchools Rating

Crowley High School

  • Education Level: High
  • # of students: 2,033
  • # of teachers: 150
4
GreatSchools Rating
 

$215,999$263,999$239,999

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$834
Property Tax -$595
Property Insurance -$148
HOA -$37
Property Management Fees -$99
CASH FLOW
$8

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.

$239,999

PROJECTED PRICE

$1,720

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 2.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $179,999
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$9,573

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,731

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,720
1$1,7202$1,7253$1,7954$1,7955$1,800
$1,800
RENT COMPS ANALYSIS
  • 665 Rapid Way Crowley, TX 1
    • 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.82
    •  
  • 509 Anchor Way Crowley, TX 2
    • 4 beds 2 baths ∙ 2,084 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,084 Sqft ∙ Built 2008
    property image
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.83
    •  
  • 784 Keel Line Drive Crowley, TX 3
    • 4 beds 3 baths ∙ 2,142 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,142 Sqft ∙ Built 2012
    property image
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.84
    •  
  • 669 Rapid Way Crowley, TX 4
    • 5 beds 2 baths ∙ 2,276 Sqft ∙ Built 2006 5 beds 2 baths ∙ 2,276 Sqft ∙ Built 2006
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.79
    •  
  • 479 Angler Drive Crowley, TX 5
    • 4 beds 2 baths ∙ 2,140 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,140 Sqft ∙ Built 2006
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.84
    •  
PROPERTY LISTING DETAILS
Renee Hudson
Re/max Associates Of Mansfield
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14513770
Last Updated: 02/12/2021
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