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7005 New Castle Lane Sanger, TX 76266

4 Beds 3 Baths 2,515 sqft Built 2019

INVESTimate

$481,500

List Price

$2,230

$2,007 - $2,453

Rent Est.

$519,635  ( +7.92%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2019
  • Price/Sqft : $191.45
  • 5 Days on Market
  • MLS # : 14419029
  • Updated Date : 08/25/2020 at 08:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,515 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jp And Associates Realtors

Listing Agent's Description

Country living meets modern open concept home! Brand new built in 2019, owners have added TONS of improvements. This house is loaded with Smart Home Features, including control over interior&exterior landscape lighting, offsite controllable exterior doors&garage doors, with front doorbell camera. Engineered wood flooring flows throughout, Large open kitchen, with touchless faucet, granite countertops,island with separate counter seating.Custom paint throughout the entire home. Brand new built in screen patio with ceiling fans built 2020,a MASSIVE 1,200sqft detached newly built Garage or Workshop, completely finished out to match the exterior of the home.Driveway widened and extended! 6&8 Foot privacy fencing.

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

Zip Code: 76266

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $94k243k

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

Zip Code: 76266

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7771734

* 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
 

$433,350$529,650$481,500

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

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-$10k-$8.0k-$6.0k-$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$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,777
Property Tax -$657
Property Insurance -$173
HOA -$35
Property Management Fees -$99
CASH FLOW
-$510

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$481,500

PROJECTED PRICE

$2,230

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.92%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$129,598

INVESTMENT

$129,598

Down Payment
$120,375
Rehab Estimate
$2,000
Closing Costs
$7,223

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,777

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $120,375
Loan Amount $361,125
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,431

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,075

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9503$2,230
$2,230
RENT COMPS ANALYSIS
  • 7005 New Castle Lane Sanger, TX 3
    • 4 beds 3 baths ∙ 2,515 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,515 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $0.89
    •  
  • 3020 Lake Ridge Drive Sanger, TX 1
    • 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
    •  
  • 4013 Park Lane Sanger, TX 2
    • 3 beds 3 baths ∙ 2,215 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,215 Sqft ∙ Built 2019
    LEASED 09/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.88
    •  
PROPERTY LISTING DETAILS
Clifton Stamm
Jp And Associates Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419029
Last Updated: 08/25/2020
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