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

7304 Spring Ranch Court Godley, TX 76044

4 Beds 3 Baths 2,591 sqft Built 2015

$450,000

List Price

$2,420

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $173.68
  • 1 Days on Market
  • MLS # : 14531040
  • Updated Date : 03/13/2021 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,591 sqft
  • Baths : 2 full , 1 half
Listing Agent

The Cates Group

Listing Agent's Description

Beautiful 4 bed, 2.5 bath home on one acre in established, quiet neighborhood outside the city limit, just minutes from Chisolm Trail parkway. Formal dining and entry way has real hardwood flooring. Living room has gorgeous wood beams, stone gas starting fireplace. The kitchen has custom knotty alder cabinets. All bedrooms are large with walk-in custom closets. Pipe fencing around homes, with decorative front gate. Two water heaters provide hot water extremely fast. There is also a well that provides water, so no water bill! This home sits on top of the hill, so the views from the back patio are absolutely gorgeous. All information deemed reliable, but not guaranteed. Buyer agent to verify all information.

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: 76044

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $108k243k

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

Zip Code: 76044

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9821734

* 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
Godley Elementary School Primary Regular 627 42 3
Godley Middle School Middle Regular 282 22 5
Godley High School High Regular 526 42 4

Godley Elementary School

  • Education Level: Primary
  • # of students: 627
  • # of teachers: 42
3
GreatSchools Rating

Godley Middle School

  • Education Level: Middle
  • # of students: 282
  • # of teachers: 22
5
GreatSchools Rating

Godley High School

  • Education Level: High
  • # of students: 526
  • # of teachers: 42
4
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$1,563
Property Tax -$988
Property Insurance -$177
HOA -$29
Property Management Fees -$99
CASH FLOW
-$436

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.

$450,000

PROJECTED PRICE

$2,420

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.1%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$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$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$668

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,591

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,420
$2,420
RENT COMPS ANALYSIS
  • 7304 Spring Ranch Court Godley, TX 2
    • 4 beds 3 baths ∙ 2,591 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,591 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $0.93
    •  
  • 9313 Alabama Street Joshua, TX 1
    • 4 beds 2 baths ∙ 2,356 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,356 Sqft ∙ Built 2007
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.00
    •  
PROPERTY LISTING DETAILS
Robin Tyler
The Cates Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14531040
Last Updated: 03/13/2021
BESbswy