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724 Ravenwood Drive Saginaw, TX 76179

4 Beds 2 Baths 1,892 sqft Built 2018

INVESTimate

$287,000

List Price

$1,730

$1,557 - $1,903

Rent Est.

$308,468  ( +7.48%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $151.69
  • 6 Days on Market
  • MLS # : 14417204
  • Updated Date : 08/25/2020 at 12:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,892 sqft
  • Baths : 2 full
Listing Agent

Serene Heights Llc.

Listing Agent's Description

Must see!! Beautiful 4 bedroom 2 bath home in a very desired neighborhood. Come out and see this home with a nice open concept kitchen and living area with high ceilings great for entertaining. This home is ready for a new family. Don't miss this! Great area with community pool.

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: 76179

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Zip Code: 76179

ZipNIR 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
Bryson Elementary School Primary Regular 473 34 5
Wayside Middle School Middle Regular 943 52 6
Boswell High School High Regular 1,605 106 7

Bryson Elementary School

  • Education Level: Primary
  • # of students: 473
  • # of teachers: 34
5
GreatSchools Rating

Wayside Middle School

  • Education Level: Middle
  • # of students: 943
  • # of teachers: 52
6
GreatSchools Rating

Boswell High School

  • Education Level: High
  • # of students: 1,605
  • # of teachers: 106
7
GreatSchools Rating
 

$258,300$315,700$287,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,059
Property Tax -$623
Property Insurance -$137
Property Management Fees -$99
CASH FLOW
-$188

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.

$287,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.48%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,805

INVESTMENT

$81,805

Down Payment
$71,750
Rehab Estimate
$5,750
Closing Costs
$4,305

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,750
Loan Amount $215,250
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,382

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
  • $0.91

    LIST RENT PER SQFT
  • $1,726

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7303$1,7954$1,8505$1,875
$1,875
RENT COMPS ANALYSIS
  • 724 Ravenwood Drive Saginaw, TX 2
    • 4 beds 2 baths ∙ 1,892 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,892 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.91
    •  
  • 8600 Shallow Creek Drive Fort Worth, TX 1
    • 4 beds 2 baths ∙ 1,865 Sqft ∙ Built 2012 4 beds 2 baths ∙ 1,865 Sqft ∙ Built 2012
    LEASED 10/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.91
    •  
  • 460 Commonwealth Drive Saginaw, TX 3
    • 4 beds 2 baths ∙ 1,912 Sqft ∙ Built 2012 4 beds 2 baths ∙ 1,912 Sqft ∙ Built 2012
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.94
    •  
  • 949 Sherry Lane Saginaw, TX 4
    • 4 beds 2 baths ∙ 2,057 Sqft ∙ Built 2010 4 beds 2 baths ∙ 2,057 Sqft ∙ Built 2010
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.90
    •  
  • 940 Cloudlock Drive Saginaw, TX 5
    • 4 beds 2 baths ∙ 2,092 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,092 Sqft ∙ Built 2016
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.90
    •  
PROPERTY LISTING DETAILS
Marie Cazares
Serene Heights Llc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417204
Last Updated: 08/25/2020
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