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713 Lighthouse Lane Savannah, TX 76227

5 Beds 3 Baths 3,185 sqft Built 2013

INVESTimate

$389,999

List Price

$2,460

$2,214 - $2,706

Rent Est.

$419,093  ( +7.46%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2013
  • Price/Sqft : $122.45
  • 9 Days on Market
  • MLS # : 14414050
  • Updated Date : 08/19/2020 at 04:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,185 sqft
  • Baths : 3 full
Listing Agent

Era Irealty

Listing Agent's Description

Dont miss out on this cozy 5 bedroom home in Savannah! New carpet was just put in, enjoy a Gourmet Kitchen with custom wood cabinets, granite counters & large Island. Features full energy package, rounded corners, arch ways, HARD TO FIND 5th bedroom could easily be a study, Master down, upstairs game room, covered rear patio, covered front porch!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Savannah

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Savannah

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Savannah Elementary School Primary Regular 640 42 6
Navo Middle School Middle Regular 1,077 65 7
Denton High School High Regular 2,166 140 6

Savannah Elementary School

  • Education Level: Primary
  • # of students: 640
  • # of teachers: 42
6
GreatSchools Rating

Navo Middle School

  • Education Level: Middle
  • # of students: 1,077
  • # of teachers: 65
7
GreatSchools Rating

Denton High School

  • Education Level: High
  • # of students: 2,166
  • # of teachers: 140
6
GreatSchools Rating
 

$350,999$428,999$389,999

PURCHASE PRICE

$2,214$2,706$2,460

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$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$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,460
EXPENSES Loan Payment -$1,439
Property Tax -$887
Property Insurance -$211
HOA -$75
Property Management Fees -$99
CASH FLOW
-$252

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$389,999

PROJECTED PRICE

$2,460

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.46%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,500
Loan Amount $292,499
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$3,873

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,460

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,309

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$2,190
1$2,1902$2,2003$2,2954$2,4605$2,500
$2,500
RENT COMPS ANALYSIS
  • 713 Lighthouse Lane Savannah, TX 4
    • 5 beds 3 baths ∙ 3,185 Sqft ∙ Built 2013 5 beds 3 baths ∙ 3,185 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,460
    • $0.77
    •  
  • 709 Marietta Lane Aubrey, TX 1
    • 5 beds 4 baths ∙ 3,271 Sqft ∙ Built 2014 5 beds 4 baths ∙ 3,271 Sqft ∙ Built 2014
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.67
    •  
  • 724 Marietta Lane Savannah, TX 2
    • 5 beds 3 baths ∙ 3,036 Sqft ∙ Built 2014 5 beds 3 baths ∙ 3,036 Sqft ∙ Built 2014
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.72
    •  
  • 705 Lighthouse Lane Savannah, TX 3
    • 5 beds 3 baths ∙ 3,065 Sqft ∙ Built 2013 5 beds 3 baths ∙ 3,065 Sqft ∙ Built 2013
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.75
    •  
  • 4520 Canopy Street Little Elm, TX 5
    • 4 beds 4 baths ∙ 3,277 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,277 Sqft ∙ Built 2017
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.76
    •  
PROPERTY LISTING DETAILS
David Nam
Era Irealty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14414050
Last Updated: 08/19/2020
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