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702 Meadow Wood Lane Princeton, TX 75407

3 Beds 2 Baths 1,656 sqft Built 2018

$234,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $141.30
  • 2 Days on Market
  • MLS # : 14463996
  • Updated Date : 11/02/2020 at 03:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,656 sqft
  • Baths : 2 full
Listing Agent

New Home Dfw

Listing Agent's Description

This lovely home is located in a family friendly neighborhood conveniently located near Hwy. 380. One story home with open concept. Kitchen has spacious corner pantry, beautiful granite countertops and island, and opens to dining room and living area. Appliances are energy efficient, stainless steel.

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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: 75407

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $114k243k

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

Zip Code: 75407

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8671734

* 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
Smith Elementary School Primary Regular NA
Clark Junior High School Middle Regular 540 33 8
Princeton High School High Regular 1,048 67 6

Smith Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Clark Junior High School

  • Education Level: Middle
  • # of students: 540
  • # of teachers: 33
8
GreatSchools Rating

Princeton High School

  • Education Level: High
  • # of students: 1,048
  • # of teachers: 67
6
GreatSchools Rating
 

$210,600$257,400$234,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$863
Property Tax -$488
Property Insurance -$123
HOA -$46
Property Management Fees -$99
CASH FLOW
-$19

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$234,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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-$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$67,760

INVESTMENT

$67,760

Down Payment
$58,500
Rehab Estimate
$5,750
Closing Costs
$3,510

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$863

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,500
Loan Amount $175,500
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$10,888

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,594

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,5503$1,5994$1,6005$1,600
$1,600
RENT COMPS ANALYSIS
  • 702 Meadow Wood Lane Princeton, TX 5
    • 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.97
    •  
  • 1012 Meadow Green Court Princeton, TX 1
    • 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 2012
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.92
    •  
  • 4036 Princeton Circle Princeton, TX 2
    • 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 2003
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.98
    •  
  • 1204 Bronze Lane Princeton, TX 3
    • 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 2019
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.98
    •  
  • 604 Rustic Meadow Trail Princeton, TX 4
    • 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 2019
    LEASED 02/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.97
    •  
PROPERTY LISTING DETAILS
Daniel Wolf
New Home Dfw
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463996
Last Updated: 11/02/2020
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