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70 N Highland Drive Sanger, TX 76266

4 Beds 3 Baths 2,507 sqft Built 2005

$290,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $115.68
  • 2 Days on Market
  • MLS # : 14474892
  • Updated Date : 11/21/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,507 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fathom Realty

Listing Agent's Description

Take the opportunity to check out this stunningly remodeled home. This spacious home welcomes you with new transitional pendant lighting fixtures, a pure white banister, and a more modern vibe. The kitchen is open with beautiful white cabinets, smooth granite countertops and a soft ceramic mosaic backsplash as a finishing touch. The Primary bedroom is positioned downstairs along with a spacious ensuite with walk-in closet. Within walking distance of schools and proximity to local restaurants and shopping. (Newly built Additional storage building in backyard)

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

Neighborhood: Sable Creek

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $94k336k

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

Neighborhood: Sable Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500160017001800190020002100Rent in $7772171

* 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
Butterfield Elementary School Primary Regular 501 32 7
Sanger Middle School Middle Regular 415 28 6
Sanger High School High Regular 796 52 5

Butterfield Elementary School

  • Education Level: Primary
  • # of students: 501
  • # of teachers: 32
7
GreatSchools Rating

Sanger Middle School

  • Education Level: Middle
  • # of students: 415
  • # of teachers: 28
6
GreatSchools Rating

Sanger High School

  • Education Level: High
  • # of students: 796
  • # of teachers: 52
5
GreatSchools Rating
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,070
Property Tax -$396
Property Insurance -$172
HOA -$15
Property Management Fees -$99
CASH FLOW
$179

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.

$290,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.3%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

8.17

YEARS SAVED

$36,123

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,972

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8503$1,9004$1,930
$1,930
RENT COMPS ANALYSIS
  • 70 N Highland Drive Sanger, TX 4
    • 4 beds 3 baths ∙ 2,507 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,507 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.77
    •  
  • 49 Heron Bay Sanger, TX 1
    • 4 beds 3 baths ∙ 2,427 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,427 Sqft ∙ Built 2005
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.74
    •  
  • 28 Heron Drive Sanger, TX 2
    • 4 beds 3 baths ∙ 2,189 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,189 Sqft ∙ Built 2015
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.85
    •  
  • 3020 Lake Ridge Drive Sanger, TX 3
    • 4 beds 3 baths ∙ 2,462 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,462 Sqft ∙ Built 2013
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.77
    •  
PROPERTY LISTING DETAILS
Kenneth Jones
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14474892
Last Updated: 11/21/2020
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