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739 Cedar Cove Drive Princeton, TX 75407

3 Beds 2 Baths 1,540 sqft Built 2008

$225,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2008
  • Price/Sqft : $146.10
  • 5 Days on Market
  • MLS # : 14458290
  • Updated Date : 10/30/2020 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,540 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors Mck

Listing Agent's Description

Immaculate home backs to a greenbelt area. Enjoy the privacy of the backyard with the greenbelt. This home offers a wonderful floorplan with formal dining, open kitchen with breakfast bar and a breakfast area, large family room, split bedrooms, walk-in closet and spacious master suite. Great neighborhood, convenient to shopping centers and schools.

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: 75407

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $114k243k

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

Zip Code: 75407

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8671734

* 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
Lacy Elementary School Primary Regular 695 47 6
Clark Junior High School Middle Regular 540 33 8
Princeton High School High Regular 1,048 67 6

Lacy Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 47
6
GreatSchools Rating

Clark Junior High School

  • Education Level: Middle
  • # of students: 540
  • # of teachers: 33
8
GreatSchools Rating

Princeton High School

  • Education Level: High
  • # of students: 1,048
  • # of teachers: 67
6
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$830
Property Tax -$469
Property Insurance -$116
HOA -$21
Property Management Fees -$99
CASH FLOW
-$35

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.

$225,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

3.75

YEARS SAVED

$9,497

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,498

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5003$1,5004$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 739 Cedar Cove Drive Princeton, TX 3
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.97
    •  
  • 705 Creekview Drive Princeton, TX 1
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 2010
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.97
    •  
  • 725 Cedar Cove Drive Princeton, TX 2
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 2007
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.97
    •  
  • 741 Cedar Cove Drive Princeton, TX 4
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 2008
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.01
    •  
  • 216 Creekwood Drive Princeton, TX 5
    • 3 beds 2 baths ∙ 1,709 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,709 Sqft ∙ Built 2010
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.94
    •  
PROPERTY LISTING DETAILS
Celeste Parker
Ebby Halliday, Realtors Mck
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14458290
Last Updated: 10/30/2020
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