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714 Wolf Creek Drive Cleburne, TX 76033

4 Beds 2 Baths 2,083 sqft Built 2021

$256,990

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
February 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $123.37
  • 6 Days on Market
  • MLS # : 14520758
  • Updated Date : 02/23/2021 at 12:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,083 sqft
  • Baths : 2 full
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

NEW COMMUNITY NOW SELLING!!~D.R. HORTON'S FABULOUS NEW EXPRESS HOMES COMMUNITY in CLEBURNE'S REMINGTON RIDGE OFFERING BEAUTIFUL AFFORDABLE HOMES!~Single Story 4-2-2 Kingston Floorplan (Elev C)-Est Completion Mid Summer*Over 2,000 sq ft floorplan with open concept Living,Dining & Kitchen with Stainless Steel Appliances,electric Range,Built-in Microwave,seating Island & Walk-In Pantry*Primary Bedroom with 5 foot Shower & Walk-In Closet*Ceramic tile Entry,Hallways,Kitchen,Utility Room & Bathrooms*Home is Connected Smart Home Technology*15 SEER heat pump HVAC system & radiant barrier roof decking*6 foot fenced rear yard,covered Back Patio,Landscape package,full sod,sprinkler system with rain sensor & more!

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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: 76033

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 76033

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9011734

* 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
Marti Elementary School Primary Regular 417 29 4
Wheat Middle School Middle Regular 701 52 4
Cleburne High School High Regular 1,653 110 4

Marti Elementary School

  • Education Level: Primary
  • # of students: 417
  • # of teachers: 29
4
GreatSchools Rating

Wheat Middle School

  • Education Level: Middle
  • # of students: 701
  • # of teachers: 52
4
GreatSchools Rating

Cleburne High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 110
4
GreatSchools Rating
 

$231,291$282,689$256,990

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$893
Property Tax -$633
Property Insurance -$148
Property Management Fees -$99
CASH FLOW
-$62

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.

$256,990

PROJECTED PRICE

$1,710

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.5%
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-$2.0k$0.0$2.0k$4.0k$6.0k

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$70,102

INVESTMENT

$70,102

Down Payment
$64,248
Rehab Estimate
$2,000
Closing Costs
$3,855

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$893

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,248
Loan Amount $192,743
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$5,861

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,708

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,710
$1,710
RENT COMPS ANALYSIS
  • 714 Wolf Creek Drive Cleburne, TX 2
    • 4 beds 2 baths ∙ 2,083 Sqft ∙ Built 2021 4 beds 2 baths ∙ 2,083 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.82
    •  
  • 806 Chestnut Grove Drive Cleburne, TX 1
    • 4 beds 2 baths ∙ 2,072 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,072 Sqft ∙ Built 2004
    LEASED 11/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.82
    •  
PROPERTY LISTING DETAILS
Carol Holloway Stoneham
Century 21 Mike Bowman, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14520758
Last Updated: 02/23/2021
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