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7414 Morning Glory Road Abilene, TX 79602

3 Beds 2 Baths 1,797 sqft Built 2018

$230,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $127.99
  • 5 Days on Market
  • MLS # : 14479160
  • Updated Date : 12/02/2020 at 02:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,797 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Must see...Priced to sell...established yard, ready for a new owner!!! As you entered you are greeted by a large foyer leading to the oversized living room with wood burning fireplace...massive dining area and open Kitchen with storage galore!!! Home comes with established yard...window treatments...massive back yard...Fireplace... oversized 28' patio with large backyard perfect for kiddos and entertaining. Split floor plan has 2 other bedrooms off of front hall with nice sized guest bathroom. You will not find a better deal in Carriage Hllls!!! Beautiful luxury vinyl plank floors in main living areas...beautiful stained cabinets... come make this your new tomorrow...TODAY!!

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

Zip Code: 79602

ZipNIR Market*CityMarket2010Year2005 Q3201970k80k90k100k110k120k130k140k150k160k170k180kPrice in $66k189k

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

Zip Code: 79602

ZipNIR Market*CityMarket2015Year20112019 Q28509009501000105011001150120012501300Rent in $8171309

* 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
Jackson Elementary School Primary Regular 547 29 6
Madison Middle School Middle Regular 900 62 4
Cooper High School High Regular 1,806 135 4

Jackson Elementary School

  • Education Level: Primary
  • # of students: 547
  • # of teachers: 29
6
GreatSchools Rating

Madison Middle School

  • Education Level: Middle
  • # of students: 900
  • # of teachers: 62
4
GreatSchools Rating

Cooper High School

  • Education Level: High
  • # of students: 1,806
  • # of teachers: 135
4
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$849
Property Tax -$495
Property Insurance -$130
Property Management Fees -$99
CASH FLOW
$117

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 18% of earned rent to cover both maintenance and periods of vacancy.

$230,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 4.0%
Maintenance Year (1-5) 8.00%
Vacancy 9.90%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$9,868

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,837

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,690
1$1,6902$1,8003$1,8754$1,8955$1,895
$1,895
RENT COMPS ANALYSIS
  • 7414 Morning Glory Road Abilene, TX 1
    • 3 beds 2 baths ∙ 1,797 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,797 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.94
    •  
  • 7314 Connor Road Abilene, TX 2
    • 4 beds 2 baths ∙ 1,754 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,754 Sqft ∙ Built 2018
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.03
    •  
  • 309 Mill Creek Drive Abilene, TX 3
    • 4 beds 2 baths ∙ 1,811 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,811 Sqft ∙ Built 2017
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.04
    •  
  • 7225 Raven Court Abilene, TX 4
    • 3 beds 2 baths ∙ 1,947 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,947 Sqft ∙ Built 2016
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.97
    •  
  • 310 Mill Creek Drive Abilene, TX 5
    • 4 beds 2 baths ∙ 1,805 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,805 Sqft ∙ Built 2015
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.05
    •  
PROPERTY LISTING DETAILS
Todd Rodriguez
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14479160
Last Updated: 12/02/2020
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