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705 Renfro Street Burleson, TX 76028

3 Beds 2 Baths 1,843 sqft Built 1980

$235,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $127.51
  • 6 Days on Market
  • MLS # : 14464104
  • Updated Date : 11/04/2020 at 12:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,843 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

This Burleson one-story home offers a two-car garage. This home is vacant and cleaned regularly.

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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

Neighborhood: Academy Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $119k266k

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

Neighborhood: Academy Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211501200125013001350140014501500155016001650170017501800Rent in $11261833

* 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
Mound Elementary School Primary Regular 424 29 6
Hughes Middle School Middle Regular 1,200 71 5
Burleson High School High Regular 1,583 101 7

Mound Elementary School

  • Education Level: Primary
  • # of students: 424
  • # of teachers: 29
6
GreatSchools Rating

Hughes Middle School

  • Education Level: Middle
  • # of students: 1,200
  • # of teachers: 71
5
GreatSchools Rating

Burleson High School

  • Education Level: High
  • # of students: 1,583
  • # of teachers: 101
7
GreatSchools Rating
 

$211,500$258,500$235,000

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 -$867
Property Tax -$563
Property Insurance -$134
Property Management Fees -$99
CASH FLOW
-$163

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.

$235,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k

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$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$2,270

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
  • $0.81

    LIST RENT PER SQFT
  • $1,626

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,449
1$1,4492$1,5003$1,6254$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 705 Renfro Street Burleson, TX 2
    • 3 beds 2 baths ∙ 1,843 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,843 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.81
    •  
  • 737 Nw Douglas Street Burleson, TX 1
    • 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 1980
    property image
    LEASED 02/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.85
    •  
  • 309 Alsbury Boulevard Burleson, TX 3
    • 3 beds 2 baths ∙ 1,877 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,877 Sqft ∙ Built 1985
    property image
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.87
    •  
  • 113 Clinton Street Burleson, TX 4
    • 3 beds 2 baths ∙ 1,933 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,933 Sqft ∙ Built 1978
    property image
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.91
    •  
  • 709 Renfro Street Burleson, TX 5
    • 3 beds 2 baths ∙ 2,006 Sqft ∙ Built 1980 3 beds 2 baths ∙ 2,006 Sqft ∙ Built 1980
    property image
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.90
    •  
PROPERTY LISTING DETAILS
Feras Rachid
Opendoor Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464104
Last Updated: 11/04/2020
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