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705 Myers Street Seagoville, TX 75159

4 Beds 2 Baths 1,803 sqft Built 2020

$244,900

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $135.83
  • 5 Days on Market
  • MLS # : 14462948
  • Updated Date : 10/30/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,803 sqft
  • Baths : 2 full
Listing Agent

Lgi Homes

Listing Agent's Description

The Reed plan by LGI Homes has 4 bedrooms, 2 baths, an open family room, a spacious kitchen with a large dining room and more, all on one level! This thoughtfully designed home comes with a plethora incredible upgrades already included like granite countertops, energy-efficient appliances, 36” upper wood cabinets, a beautifully landscaped front yard and an attached two-car garage. Ideally located in Seagoville, homeowners at Seagoville Farms will have quick access to incredible amenities, local schools and nearby conveniences.

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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: 75159

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $79k243k

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

Zip Code: 75159

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Seagoville North Elementary School Primary Unknown 713 41 NA
Seagoville Middle School Middle Regular 1,151 68 3
Seagoville High School High Regular 1,289 77 3

Seagoville North Elementary School

  • Education Level: Primary
  • # of students: 713
  • # of teachers: 41
NA
GreatSchools Rating

Seagoville Middle School

  • Education Level: Middle
  • # of students: 1,151
  • # of teachers: 68
3
GreatSchools Rating

Seagoville High School

  • Education Level: High
  • # of students: 1,289
  • # of teachers: 77
3
GreatSchools Rating
 

$220,410$269,390$244,900

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$904
Property Tax -$574
Property Insurance -$131
HOA -$28
Property Management Fees -$99
CASH FLOW
-$236

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.

$244,900

PROJECTED PRICE

$1,500

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.5%
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-$4.0k-$2.0k$0.0$2.0k

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$66,899

INVESTMENT

$66,899

Down Payment
$61,225
Rehab Estimate
$2,000
Closing Costs
$3,674

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,225
Loan Amount $183,675
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$626

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,469

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5003$1,5504$1,5505$1,675
$1,675
RENT COMPS ANALYSIS
  • 705 Myers Street Seagoville, TX 2
    • 4 beds 2 baths ∙ 1,803 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,803 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.83
    •  
  • 515 Shaye Court Seagoville, TX 1
    • 3 beds 2 baths ∙ 1,974 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,974 Sqft ∙ Built 2005
    property image
    LEASED 08/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.76
    •  
  • 1405 Julie Street Seagoville, TX 3
    • 4 beds 2 baths ∙ 2,034 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,034 Sqft ∙ Built 2005
    property image
    LEASED 08/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.76
    •  
  • 722 Stacie Lane Seagoville, TX 4
    • 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 2005
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.94
    •  
  • 2615 Horton Drive Seagoville, TX 5
    • 4 beds 2 baths ∙ 2,081 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,081 Sqft ∙ Built 2019
    property image
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.80
    •  
PROPERTY LISTING DETAILS
Mona Hill
Lgi Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462948
Last Updated: 10/30/2020
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