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717 E. Olive Street Sherman, TX 75090

3 Beds 2 Baths 1,466 sqft Built 2003

$175,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $119.37
  • 2 Days on Market
  • MLS # : 14470052
  • Updated Date : 11/14/2020 at 10:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,466 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Frisco Stars

Listing Agent's Description

Immaculate freshly, painted, single-story home nestled in between the city and countryside. Welcomed by an open front porch and wooden glass door entry. Entertaining driveway and one-car attached garage holds a new Water treatment system. Upgraded vinyl wood flooring throughout every room. Spacious bedrooms and delightful Owners Suite accommodate comfortable living. Ample kitchen open to roomy, living room, and formal dining is perfect for extended family gatherings. Open backyard great for play, BBQ and gardening. New Outdoor shed is perfect for a child’s playhouse, storing lawn equipment or craftsman work area. This Sweet home has upgraded Owners bath, new hot water tank and meticulously, manicured lawn.

SEE MORE

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: 75090

ZipNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150k160kPrice in $52k166k

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

Zip Code: 75090

No Data Available.

* 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
Dillingham Intermediate School Primary Regular 1,036 76 4
Dillingham Intermediate School Middle Regular 1,036 76 4
Sherman High School High Regular 1,780 119 5

Dillingham Intermediate School

  • Education Level: Primary
  • # of students: 1,036
  • # of teachers: 76
4
GreatSchools Rating

Dillingham Intermediate School

  • Education Level: Middle
  • # of students: 1,036
  • # of teachers: 76
4
GreatSchools Rating

Sherman High School

  • Education Level: High
  • # of students: 1,780
  • # of teachers: 119
5
GreatSchools Rating
 

$157,500$192,500$175,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$646
Property Tax -$401
Property Insurance -$107
Property Management Fees -$99
CASH FLOW
$197

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.

$175,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.83%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 9.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,125

INVESTMENT

$52,125

Down Payment
$43,750
Rehab Estimate
$5,750
Closing Costs
$2,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$646

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $43,750
Loan Amount $131,250
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$22,045

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,495

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,275
1$1,2752$1,4503$1,4994$1,5505$1,550
$1,550
RENT COMPS ANALYSIS
  • 717 E. Olive Street Sherman, TX 2
    • 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.99
    •  
  • 724 S Montgomery Street Sherman, TX 1
    • 3 beds 2 baths ∙ 1,292 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,292 Sqft ∙ Built 2017
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.99
    •  
  • 1504 S Montgomery Street Sherman, TX 3
    • 4 beds 2 baths ∙ 1,450 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,450 Sqft ∙ Built 2017
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $1.03
    •  
  • 1603 Linda Sherman, TX 4
    • 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 2020
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.03
    •  
  • 1505 Linda Sherman, TX 5
    • 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 2020
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.03
    •  
PROPERTY LISTING DETAILS
Sonia Choi
Keller Williams Frisco Stars
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470052
Last Updated: 11/14/2020
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