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737 Harvest Moon Drive Venus, TX 76084

9 Beds 7 Baths 4,889 sqft Built 2020 4 Units

$680,000

List Price

$5,580

$5.3K - $5.8K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
Built 2020 NEW CONSTRUCTION
4 Units MULTIFAMILY
FACTS
  • Built In 2020
  • Price/Sqft : $139.09
  • 167 Days on Market
  • MLS # : 14348264
  • Updated Date : 10/19/2020 at 16:50
CONSTRUCTION
  • Beds : 9
  • Floor Size : 4,889 sqft
  • Baths : 6 full , 1 half
Listing Agent

Austin Lone Star Realty Llc

Listing Agent's Description

NOW BUILDING LUXURY FOURPLEXES. Across from new $600B Google Data Center in Railport Industrial Park. Private courtyards, alley access to 1 car garages. Units include: 1-3 bed,2 bath; 2- 2 bed,1.5 bath TH style & 1-2 bed,2 bath. 3.2 unit has an open living - island kitchen, primary baths - double sinks & walk-in showers. 2 bed units have powder rom down & full bath plus extra vanity,dressing area upstairs. 2.2 unit has two primary bdrms w full baths. kitchens with islands, granite countertops, tile backsplash, ss appliances. Wood-look luxury vinyl plankboard, carpet HOA & property mangmt in place. Fire monitoring at $962. Rents $1495, $1395, $1295 & $1395. PICS ARE REPRESENTATIVE. TO BE BUILT.

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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: 76084

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $101k243k

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

Zip Code: 76084

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9871734

* 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
J.a. Vitovsky Elementary Primary Regular 646 47 4
Frank Seale Middle School Middle Regular 908 48 7
Midlothian High School High Regular 2,390 141 6

J.a. Vitovsky Elementary

  • Education Level: Primary
  • # of students: 646
  • # of teachers: 47
4
GreatSchools Rating

Frank Seale Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 48
7
GreatSchools Rating

Midlothian High School

  • Education Level: High
  • # of students: 2,390
  • # of teachers: 141
6
GreatSchools Rating
 

$612,000$748,000$680,000

PURCHASE PRICE

$5,022$6,138$5,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,580
EXPENSES Loan Payment -$2,509
Property Tax -$1,066
Property Insurance -$310
HOA -$261
Property Management Fees -$396
CASH FLOW
$1,039

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$680,000

PROJECTED PRICE

$5,580

PROJECTED RENT

0.82%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530$0.0$10k$20k$30k$40k$50k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$188,200

INVESTMENT

$188,200

Down Payment
$170,000
Rehab Estimate
$8,000
Closing Costs
$10,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$2,509

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $170,000
Loan Amount $510,000
See What Happens When You Reinvest Cash Flow

12.92

YEARS SAVED

$166,320

INTEREST SAVED

CASH FLOW REINVESTMENT

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

Solutions Manager

YOUR SOLUTIONS MANAGER

Please Contact Your Solutions Manager

To review the detailed price and rent comps for this property and answer any questions you may have.

PROPERTY LISTING DETAILS
Sean Little
Austin Lone Star Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14348264
Last Updated: 10/19/2020
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