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740 Quail Drive Saginaw, TX 76131

4 Beds 3 Baths 2,512 sqft Built 2002

$265,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $105.49
  • 2 Days on Market
  • MLS # : 14481528
  • Updated Date : 12/05/2020 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,512 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

This is a fantastic 4-2.5-2 in Eagle Mountain-Saginaw ISD! Over 2500 sq ft with multiple living spaces and a pool for only $265k is a deal that will not last long. Enter the home to the dining room to the left and a flex space that would make a great office area. The kitchen is open to a large living room with a fireplace and breakfast bar. The backyard offers a great deck and pool for gathering with friends and family. Split master suite with living area and 3 beds location upstairs. New carpet and fresh paint found throughout much of the home.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Heather Ridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $114k243k

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

Neighborhood: Heather Ridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11031734

* 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
Highland Middle School Middle Regular 815 54 7
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

Highland Middle School

  • Education Level: Middle
  • # of students: 815
  • # of teachers: 54
7
GreatSchools Rating

Saginaw High School

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

$238,500$291,500$265,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$978
Property Tax -$576
Property Insurance -$172
HOA -$21
Property Management Fees -$99
CASH FLOW
$55

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.

$265,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$18,383

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,928

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8753$1,9004$1,9905$1,995
$1,995
RENT COMPS ANALYSIS
  • 740 Quail Drive Saginaw, TX 3
    • 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.76
    •  
  • 752 Cardinal Drive Saginaw, TX 1
    • 3 beds 3 baths ∙ 2,382 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,382 Sqft ∙ Built 2001
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.71
    •  
  • 609 Redwing Drive Saginaw, TX 2
    • 4 beds 2 baths ∙ 2,362 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,362 Sqft ∙ Built 2006
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.79
    •  
  • 1143 Frisco Drive Saginaw, TX 4
    • 5 beds 3 baths ∙ 2,589 Sqft ∙ Built 1997 5 beds 3 baths ∙ 2,589 Sqft ∙ Built 1997
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.77
    •  
  • 624 Mallard Drive Saginaw, TX 5
    • 4 beds 3 baths ∙ 2,506 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,506 Sqft ∙ Built 2005
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.80
    •  
PROPERTY LISTING DETAILS
Jon Smedley
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481528
Last Updated: 12/05/2020
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