Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

723 Clay Lane Sherman, TX 75092

3 Beds 3 Baths 2,326 sqft Built 2003

$274,900

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $118.19
  • 4 Days on Market
  • MLS # : 14513304
  • Updated Date : 02/04/2021 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,326 sqft
  • Baths : 2 full , 1 half
Listing Agent

Oyezz Real Estate

Listing Agent's Description

Charming brick home in a Great west Sherman neighborhood! Its on a beautiful and quiet block and comes with a 2 car attached garage, 2 HVAC zones, solar screens and a 3 year old roof. Home is freshly painted and includes living room with tray ceiling, fireplace and 3 dining areas. Master bathroom with jet tub, separate shower and walk-in closet. The finished bonus room upstairs can be used as an office, game room, theatre or additional bedroom. Large fenced in yard with brick patio great for entertaining. Right across from cul-de-sac and only minutes away from HWY 75, Stone Creek Golf Club, restaurants and shopping. Don't miss out on this one!

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: 75092

ZipNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150k160k170k180k190kPrice in $60k199k

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

Zip Code: 75092

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
Wakefield Elementary School Primary Regular 396 30 3
Piner Middle School Middle Regular 1,004 65 4
Sherman High School High Regular 1,780 119 5

Wakefield Elementary School

  • Education Level: Primary
  • # of students: 396
  • # of teachers: 30
3
GreatSchools Rating

Piner Middle School

  • Education Level: Middle
  • # of students: 1,004
  • # of teachers: 65
4
GreatSchools Rating

Sherman High School

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

$247,410$302,390$274,900

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$955
Property Tax -$630
Property Insurance -$154
Property Management Fees -$99
CASH FLOW
-$108

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.

$274,900

PROJECTED PRICE

$1,730

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 6.1%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$1,933

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,853

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,730
1$1,7302$1,7503$1,8004$2,200
$2,200
RENT COMPS ANALYSIS
  • 723 Clay Lane Sherman, TX 1
    • 3 beds 3 baths ∙ 2,326 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,326 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.74
    •  
  • 4101 Cardinal Drive Sherman, TX 2
    • 4 beds 3 baths ∙ 2,313 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,313 Sqft ∙ Built 2004
    LEASED 08/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.76
    •  
  • 4105 Cardinal Drive Sherman, TX 3
    • 4 beds 3 baths ∙ 2,395 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,395 Sqft ∙ Built 2003
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.75
    •  
  • 2904 Sedalia Trail Sherman, TX 4
    • 4 beds 3 baths ∙ 2,495 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,495 Sqft ∙ Built 2014
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.88
    •  
PROPERTY LISTING DETAILS
Eartha Wang
Oyezz Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14513304
Last Updated: 02/04/2021
BESbswy