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716 Liberty Drive Joshua, TX 76058

3 Beds 3 Baths 2,393 sqft Built 2021

$325,992

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $136.23
  • 5 Days on Market
  • MLS # : 14512356
  • Updated Date : 02/04/2021 at 17:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,393 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14512356 - Built by Antares Homes - June completion! ~ The foyer provides access to a study and the family room features a tile-surround fireplace. Enjoy a kitchen with a breakfast bar, a central island, and stainless-steel appliances. The combined walk-in pantry and utility room provides direct access to the two-car garage. The covered patio can be accessed from the breakfast nook with bay windows. Enjoy a master bath with a dual sink vanity, large garden tub with ledge, separate walk-in shower with a seat, linen closet, and a spacious walk-in closet. Two additional bedrooms have access to a full bathroom and linen closet. Upstairs is a second-level bonus room with an attached powder room.

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: 76058

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 76058

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
H.d. Staples Elementary School Primary Regular 497 34 5
Loflin Middle School Middle Regular 811 52 6
Joshua Ninth Grade Campus High Regular 391 29 7

H.d. Staples Elementary School

  • Education Level: Primary
  • # of students: 497
  • # of teachers: 34
5
GreatSchools Rating

Loflin Middle School

  • Education Level: Middle
  • # of students: 811
  • # of teachers: 52
6
GreatSchools Rating

Joshua Ninth Grade Campus

  • Education Level: High
  • # of students: 391
  • # of teachers: 29
7
GreatSchools Rating
 

$293,393$358,591$325,992

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$1,132
Property Tax -$772
Property Insurance -$165
HOA -$21
Property Management Fees -$99
CASH FLOW
$140

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.

$325,992

PROJECTED PRICE

$2,330

PROJECTED RENT

0.71%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$88,388

INVESTMENT

$88,388

Down Payment
$81,498
Rehab Estimate
$2,000
Closing Costs
$4,890

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,132

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,498
Loan Amount $244,494
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$24,162

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,321

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,330
$2,330
RENT COMPS ANALYSIS
  • 716 Liberty Drive Joshua, TX 2
    • 3 beds 3 baths ∙ 2,393 Sqft ∙ Built 2021 3 beds 3 baths ∙ 2,393 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $0.97
    •  
  • 1537 Blue Lake Drive Burleson, TX 1
    • 3 beds 2 baths ∙ 2,260 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,260 Sqft ∙ Built 2018
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.97
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14512356
Last Updated: 02/04/2021
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