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701 Robbins Street Cleburne, TX 76031

3 Beds 2 Baths 1,850 sqft Built 2021

$214,900

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
December 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $116.16
  • 6 Days on Market
  • MLS # : 14486908
  • Updated Date : 12/22/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,850 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

New construction on a corner lot with side entry 2 car garage. This home offers nice finishes at an affordable price. Ceramic tiling through the main areas with engineered hardwood flooring in the bedrooms. Living Room, Dining Room and Kitchen are all very spacious a great open concept floorplan. Granite countertops with breakfast bar, stainless appliances including microwave and dishwasher and designer backsplash with stained cabinetry. There's even a good size pantry! Bedrooms are very large with walk in closets. Extra LED recessed lighting, spray foam insulation, and energy efficient windows are just a few items that will help you SAVE MONEY in your new home!

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: 76031

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 76031

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8731734

* 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
Santa Fe Elementary School Primary Regular 433 33 2
Smith Middle School Middle Regular 775 53 4
Cleburne High School High Regular 1,653 110 4

Santa Fe Elementary School

  • Education Level: Primary
  • # of students: 433
  • # of teachers: 33
2
GreatSchools Rating

Smith Middle School

  • Education Level: Middle
  • # of students: 775
  • # of teachers: 53
4
GreatSchools Rating

Cleburne High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 110
4
GreatSchools Rating
 

$193,410$236,390$214,900

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$793
Property Tax -$529
Property Insurance -$134
Property Management Fees -$99
CASH FLOW
$255

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.

$214,900

PROJECTED PRICE

$1,810

PROJECTED RENT

0.84%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

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$58,949

INVESTMENT

$58,949

Down Payment
$53,725
Rehab Estimate
$2,000
Closing Costs
$3,224

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,725
Loan Amount $161,175
See What Happens When You Reinvest Cash Flow

10.58

YEARS SAVED

$40,685

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,807

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5953$1,7954$1,810
$1,810
RENT COMPS ANALYSIS
  • 701 Robbins Street Cleburne, TX 4
    • 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.98
    •  
  • 303 Preston Drive Cleburne, TX 1
    • 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 2001
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.91
    •  
  • 1211 Davis Street Cleburne, TX 2
    • 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 2020
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.95
    •  
  • 223 Preston Drive Cleburne, TX 3
    • 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 2004
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.07
    •  
PROPERTY LISTING DETAILS
Gavin Hughes
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14486908
Last Updated: 12/22/2020
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