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6931 Tim Donald Road Justin, TX 76247

3 Beds 2 Baths 1,843 sqft Built 1990

$449,990

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $244.16
  • 2 Days on Market
  • MLS # : 14475454
  • Updated Date : 11/21/2020 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,843 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty, Llc

Listing Agent's Description

This beautiful home sits on 1.73 acres in Ponder ISD. The living room has an open concept into the kitchen that includes a large kitchen island, plenty of counter space, quartz countertops, and stainless steel appliances. Off the kitchen is the dining area that has built in kitchen table bench with storage. The master bedroom suite has a private bath with an oversized shower. Separated from the main house is a approx. 720 sq. ft. fully updated guest quarters with kitchen, bed, and bath. Two oversized sliding doors open up to a 40x40 work shop with a loft and 10x20 bonus room. Bonus room access opens up to 10x20 ATV covered parking. This property also features two smaller barns. This home is a MUST SEE!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Zip Code: 76247

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 76247

ZipNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10532171

* 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
Ponder Elementary School Primary Regular 610 43 5
Ponder Junior High School Middle Regular 291 21 7
Ponder High School High Regular 399 29 4

Ponder Elementary School

  • Education Level: Primary
  • # of students: 610
  • # of teachers: 43
5
GreatSchools Rating

Ponder Junior High School

  • Education Level: Middle
  • # of students: 291
  • # of teachers: 21
7
GreatSchools Rating

Ponder High School

  • Education Level: High
  • # of students: 399
  • # of teachers: 29
4
GreatSchools Rating
 

$404,991$494,989$449,990

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,660
Property Tax -$938
Property Insurance -$134
Property Management Fees -$99
CASH FLOW
-$1,011

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$449,990

PROJECTED PRICE

$1,820

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.7%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$18k-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,997

INVESTMENT

$124,997

Down Payment
$112,498
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,498
Loan Amount $337,493
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$57

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,852

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,8003$1,820
$1,820
RENT COMPS ANALYSIS
  • 6931 Tim Donald Road Justin, TX 3
    • 3 beds 2 baths ∙ 1,843 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,843 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.99
    •  
  • 1036 Summit Drive Justin, TX 1
    • 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 1998
    LEASED 08/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.96
    •  
  • 1040 Scenic Drive Justin, TX 2
    • 3 beds 2 baths ∙ 1,719 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,719 Sqft ∙ Built 1998
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.05
    •  
PROPERTY LISTING DETAILS
Cameron Hurley
Fathom Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475454
Last Updated: 11/21/2020
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