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6930 Chestnut Ridge Drive Argyle, TX 76226

4 Beds 4 Baths 3,650 sqft Built 2020

$699,900

List Price

$3,410

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $191.75
  • 2 Days on Market
  • MLS # : 14509637
  • Updated Date : 01/30/2021 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,650 sqft
  • Baths : 3 full , 1 half
Listing Agent

Fathom Realty, Llc

Listing Agent's Description

Hard-to-find one acre home, NO CITY TAXES, at the end of a cul-de-sac and Argyle schools! Beautiful finish out, open concept, modern farmhouse, quality craftsmanship. Peaceful water views on your front porch! Majority of living space is downstairs with three bedrooms, 2.1 baths, split floor plan, study with water view, and gracious room sizes. Kitchen is a cook's dream featuring a huge island with storage and seating, tons of cabinets, double ovens, dreamy colors and style, all open to living and dining areas. Huge walk in pantry, separate utility with mud lockers and storage. Upstairs, huge area for gaming or movies, 4th bed and bath and air conditioned storage. Pool size backyard and garage fit for a king!

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: Shadylane Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k504k

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

Neighborhood: Shadylane Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262926

* 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
Hilltop Elementary School Primary Regular 710 47 7
Argyle Middle School Middle Regular 347 21 7
Argyle High School High Regular 711 50 8

Hilltop Elementary School

  • Education Level: Primary
  • # of students: 710
  • # of teachers: 47
7
GreatSchools Rating

Argyle Middle School

  • Education Level: Middle
  • # of students: 347
  • # of teachers: 21
7
GreatSchools Rating

Argyle High School

  • Education Level: High
  • # of students: 711
  • # of teachers: 50
8
GreatSchools Rating
 

$629,910$769,890$699,900

PURCHASE PRICE

$3,069$3,751$3,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,410
EXPENSES Loan Payment -$2,431
Property Tax -$1,392
Property Insurance -$238
Property Management Fees -$99
CASH FLOW
-$750

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.

$699,900

PROJECTED PRICE

$3,410

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$187,474

INVESTMENT

$187,474

Down Payment
$174,975
Rehab Estimate
$2,000
Closing Costs
$10,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,431

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $174,975
Loan Amount $524,925
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$581

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,410

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $3,449

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,2503$3,4104$3,5705$3,600
$3,600
RENT COMPS ANALYSIS
  • 6930 Chestnut Ridge Drive Argyle, TX 3
    • 4 beds 4 baths ∙ 3,650 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,650 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $3,410
    • $0.93
    •  
  • 2483 Britt Drive Argyle, TX 1
    • 5 beds 4 baths ∙ 3,347 Sqft ∙ Built 2000 5 beds 4 baths ∙ 3,347 Sqft ∙ Built 2000
    LEASED 08/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.93
    •  
  • 9115 Leland Drive Lantana, TX 2
    • 4 beds 4 baths ∙ 3,439 Sqft ∙ Built 2011 4 beds 4 baths ∙ 3,439 Sqft ∙ Built 2011
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $0.95
    •  
  • 9008 Thompson Drive Lantana, TX 4
    • 5 beds 4 baths ∙ 3,644 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,644 Sqft ∙ Built 2005
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,570
    • $0.98
    •  
  • 1017 Burnett Drive Lantana, TX 5
    • 4 beds 4 baths ∙ 3,901 Sqft ∙ Built 2007 4 beds 4 baths ∙ 3,901 Sqft ∙ Built 2007
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $0.92
    •  
PROPERTY LISTING DETAILS
Tricia A. Hoffmann
Fathom Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509637
Last Updated: 01/30/2021
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