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717 Sparrow Drive Saginaw, TX 76131

3 Beds 2 Baths 1,714 sqft Built 2011

$214,900

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2011
  • Price/Sqft : $125.38
  • 2 Days on Market
  • MLS # : 14465575
  • Updated Date : 11/07/2020 at 02:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,714 sqft
  • Baths : 2 full
Listing Agent

Select Residential Brokerage

Listing Agent's Description

Great starter home in the pleasant community of Heather Ridge Estates! Open floor plan features a large family room, opening to a spacious kitchen and breakfast area. Highlighted by beautiful wood cabinetry, the kitchen features a smoothtop range, built in microwave, plenty of counter space, and a separate pantry. Secluded master bedroom has a bath with double wide vanity, oversize soaking tub and separate shower. Popular split bedroom plan has two good sized bedrooms with a shared bath. Relax outdoors from a covered patio overlooking a large back yard. Conveniently located near Highways 820 and 35W!

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

Neighborhood: Heather Ridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Neighborhood: Heather Ridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191734

* 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
High Country Elementary School Primary Regular 633 35 6
Highland Middle School Middle Regular 815 54 7
Saginaw High School High Regular 1,785 113 6

High Country Elementary School

  • Education Level: Primary
  • # of students: 633
  • # of teachers: 35
6
GreatSchools Rating

Highland Middle School

  • Education Level: Middle
  • # of students: 815
  • # of teachers: 54
7
GreatSchools Rating

Saginaw High School

  • Education Level: High
  • # of students: 1,785
  • # of teachers: 113
6
GreatSchools Rating
 

$193,410$236,390$214,900

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$793
Property Tax -$467
Property Insurance -$126
HOA -$20
Property Management Fees -$99
CASH FLOW
$55

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.

$214,900

PROJECTED PRICE

$1,560

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.2%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,699

INVESTMENT

$62,699

Down Payment
$53,725
Rehab Estimate
$5,750
Closing Costs
$3,224

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,725
Loan Amount $161,175
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$16,095

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,598

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5603$1,6954$1,7495$1,750
$1,750
RENT COMPS ANALYSIS
  • 717 Sparrow Drive Saginaw, TX 2
    • 3 beds 2 baths ∙ 1,714 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,714 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.91
    •  
  • 600 Condor Trail Saginaw, TX 1
    • 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 2005
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.87
    •  
  • 736 Cardinal Drive Saginaw, TX 3
    • 3 beds 2 baths ∙ 1,804 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,804 Sqft ∙ Built 2001
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.94
    •  
  • 436 Spring Drive Saginaw, TX 4
    • 4 beds 2 baths ∙ 1,833 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,833 Sqft ∙ Built 2017
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $0.95
    •  
  • 453 Spring Drive Saginaw, TX 5
    • 4 beds 2 baths ∙ 1,813 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,813 Sqft ∙ Built 2017
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
PROPERTY LISTING DETAILS
Craig C Whitcomb
Select Residential Brokerage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465575
Last Updated: 11/07/2020
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