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715 Cross Fence Drive Lowry Crossing, TX 75069

3 Beds 2 Baths 1,792 sqft Built 2002

$340,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $189.73
  • 2 Days on Market
  • MLS # : 14475507
  • Updated Date : 11/21/2020 at 08:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,792 sqft
  • Baths : 2 full
Listing Agent

Exalt Realty

Listing Agent's Description

Move in ready! Spacious ranch style home with a touch of country living, close enough to the city to enjoy all the amenities. Centralized living room with raised ceilings. Open concept kitchen with stainless steel appliances. Large master bedroom with relaxing en-suite and spacious walk-in closet. Office with large window for natural lighting. French doors lead to large covered patio, perfect for entertaining and enjoying peaceful evenings. MUST SEE!!

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

Zip Code: 75069

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k344k

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

Zip Code: 75069

ZipNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10122051

* 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
Harper Elementary School Primary Regular 549 36 6
Clark Junior High School Middle Regular 540 33 8
Princeton High School High Regular 1,048 67 6

Harper Elementary School

  • Education Level: Primary
  • # of students: 549
  • # of teachers: 36
6
GreatSchools Rating

Clark Junior High School

  • Education Level: Middle
  • # of students: 540
  • # of teachers: 33
8
GreatSchools Rating

Princeton High School

  • Education Level: High
  • # of students: 1,048
  • # of teachers: 67
6
GreatSchools Rating
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,254
Property Tax -$674
Property Insurance -$131
Property Management Fees -$99
CASH FLOW
-$368

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.

$340,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.1%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$664

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,837

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5953$1,6954$1,7905$2,050
$2,050
RENT COMPS ANALYSIS
  • 715 Cross Fence Drive Lowry Crossing, TX 4
    • 3 beds 2 baths ∙ 1,792 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,792 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.00
    •  
  • 1324 Corkwood Drive Princeton, TX 1
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 2017
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.03
    •  
  • 342 Magnolia Drive Princeton, TX 2
    • 4 beds 2 baths ∙ 1,658 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,658 Sqft ∙ Built 2017
    LEASED 07/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.96
    •  
  • 1317 Soap Tree Drive Princeton, TX 3
    • 4 beds 2 baths ∙ 1,560 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,560 Sqft ∙ Built 2017
    LEASED 10/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.09
    •  
  • 1435 Pioneer Drive Lowry Crossing, TX 5
    • 3 beds 2 baths ∙ 2,016 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,016 Sqft ∙ Built 1983
    LEASED 02/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.02
    •  
PROPERTY LISTING DETAILS
Cammie Powers
Exalt Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475507
Last Updated: 11/21/2020
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