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704 Ravenwood Drive Saginaw, TX 76179

4 Beds 2 Baths 2,942 sqft Built 2016

$279,900

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $95.14
  • 3 Days on Market
  • MLS # : 14481422
  • Updated Date : 12/04/2020 at 12:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,942 sqft
  • Baths : 2 full
Listing Agent

Jp And Associates Fort Worth

Listing Agent's Description

Incredible deal in 76179 EMISD. Only 4 bedroom at this price, in this much desired neighborhood close to 820, 35 Alliance area shopping, restaurants and hospitals. This home is spotless and better than new and ready for new owners to love.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Saginaw

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Neighborhood: Saginaw

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191734

* 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
Bryson Elementary School Primary Regular 473 34 5
Wayside Middle School Middle Regular 943 52 6
Boswell High School High Regular 1,605 106 7

Bryson Elementary School

  • Education Level: Primary
  • # of students: 473
  • # of teachers: 34
5
GreatSchools Rating

Wayside Middle School

  • Education Level: Middle
  • # of students: 943
  • # of teachers: 52
6
GreatSchools Rating

Boswell High School

  • Education Level: High
  • # of students: 1,605
  • # of teachers: 106
7
GreatSchools Rating
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,033
Property Tax -$662
Property Insurance -$197
HOA -$17
Property Management Fees -$99
CASH FLOW
$82

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.

$279,900

PROJECTED PRICE

$2,090

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.5%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$20,846

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,104

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8503$1,8504$2,0905$2,275
$2,275
RENT COMPS ANALYSIS
  • 704 Ravenwood Drive Saginaw, TX 4
    • 4 beds 2 baths ∙ 2,942 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,942 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.71
    •  
  • 5244 Wheat Sheaf Trail Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,656 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,656 Sqft ∙ Built 2005
    property image
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.68
    •  
  • 8620 Star Thistle Drive Fort Worth, TX 2
    • 3 beds 4 baths ∙ 2,593 Sqft ∙ Built 2009 3 beds 4 baths ∙ 2,593 Sqft ∙ Built 2009
    property image
    LEASED 07/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.71
    •  
  • 1133 Hillwood Drive Saginaw, TX 3
    • 4 beds 3 baths ∙ 2,660 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,660 Sqft ∙ Built 2000
    property image
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.70
    •  
  • 321 Prince John Drive Saginaw, TX 5
    • 4 beds 3 baths ∙ 2,962 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,962 Sqft ∙ Built 2016
    property image
    LEASED 07/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $0.77
    •  
PROPERTY LISTING DETAILS
Lori Anne Mcelyea
Jp And Associates Fort Worth
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481422
Last Updated: 12/04/2020
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