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732 Redding Drive Saginaw, TX 76131

5 Beds 4 Baths 3,307 sqft Built 2018

INVESTimate

$379,990

List Price

$2,150

$1,935 - $2,365

Rent Est.

$405,297  ( +6.66%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $114.90
  • 6 Days on Market
  • MLS # : 14416149
  • Updated Date : 08/25/2020 at 12:18
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,307 sqft
  • Baths : 3 full , 1 half
Listing Agent

Rite Real Estate

Listing Agent's Description

Better than new! Located in the popular Basswood Crossing neighborhood you are convenient schools, shopping and dining. Perfect for a growing family you will find HUGE bedrooms with tons of closet storage, multiple living areas and many updates throughout. Upgraded kitchen appliances and stylish door hardware accent the open kitchen and living areas. Check out the new sliding barn door in the master bedroom popular on HGTV! Larger lots create more space between homes so you don't feel so cramped together, This is a must see!

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: 76131

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $115k243k

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

Zip Code: 76131

ZipNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11021734

* 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
Prairie Vista Middle School Middle Regular 866 53 5
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

Prairie Vista Middle School

  • Education Level: Middle
  • # of students: 866
  • # of teachers: 53
5
GreatSchools Rating

Saginaw High School

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

$341,991$417,989$379,990

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,402
Property Tax -$825
Property Insurance -$218
HOA -$33
Property Management Fees -$99
CASH FLOW
-$428

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.

$379,990

PROJECTED PRICE

$2,150

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.66%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,447

INVESTMENT

$106,447

Down Payment
$94,998
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,402

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $94,998
Loan Amount $284,993
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$388

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $2,083

    COMP ESTIMATED VALUE
  • $0.63

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,8953$1,9954$2,1505$2,495
$2,495
RENT COMPS ANALYSIS
  • 732 Redding Drive Saginaw, TX 4
    • 5 beds 4 baths ∙ 3,307 Sqft ∙ Built 2018 5 beds 4 baths ∙ 3,307 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.65
    •  
  • 605 Partridge Drive Saginaw, TX 1
    • 4 beds 3 baths ∙ 3,086 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,086 Sqft ∙ Built 2006
    property image
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.61
    •  
  • 729 Redwing Drive Saginaw, TX 2
    • 4 beds 3 baths ∙ 3,086 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,086 Sqft ∙ Built 2006
    property image
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.61
    •  
  • 813 Eagle Drive Saginaw, TX 3
    • 5 beds 3 baths ∙ 3,308 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,308 Sqft ∙ Built 2005
    property image
    LEASED 05/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.60
    •  
  • 733 Dalrock Road Fort Worth, TX 5
    • 4 beds 3 baths ∙ 3,581 Sqft ∙ Built 2009 4 beds 3 baths ∙ 3,581 Sqft ∙ Built 2009
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.70
    •  
PROPERTY LISTING DETAILS
Eric Ritenour
Rite Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416149
Last Updated: 08/25/2020
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