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7691 Marks Drive Waxahachie, TX 75167

4 Beds 4 Baths 3,140 sqft Built 2017

$535,000

List Price

$2,460

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $170.38
  • 6 Days on Market
  • MLS # : 14476491
  • Updated Date : 11/24/2020 at 18:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,140 sqft
  • Baths : 2 full , 2 half
Listing Agent

Berkshire Hathawayhs Worldwide

Listing Agent's Description

Exquisite John Houston Custom with 4-2.2-3 with gameroom or media up. Sits on acre+ & is fully fenced for privacy. Summertime fun to be enjoyed in the inground gunite pool complimented with a beautiful rock waterfall & extended decking & covered patio for entertaining & sunning. The kitchen is a DREAM with granite, ss appliances,& huge island with room for seating. Large walkin pantry with an area to retreat to if the storms come up. The master is split from the rest of the bedrooms & bathrooms. Spacious bedrooms of which one is large enough to call a second master. Study is to the left of entry with french doors for privacy. Large front porch is covered with a great view of the neighborhood. EVERYONE MASK UP.

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: 75167

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $116k253k

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

Zip Code: 75167

ZipNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10122077

* 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
Longbranch Elementary School Primary Regular 705 42 7
Walnut Grove Middle School Middle Regular 1,014 55 8
Heritage High School High Regular NA

Longbranch Elementary School

  • Education Level: Primary
  • # of students: 705
  • # of teachers: 42
7
GreatSchools Rating

Walnut Grove Middle School

  • Education Level: Middle
  • # of students: 1,014
  • # of teachers: 55
8
GreatSchools Rating

Heritage High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$481,500$588,500$535,000

PURCHASE PRICE

$2,214$2,706$2,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,460
EXPENSES Loan Payment -$1,974
Property Tax -$894
Property Insurance -$209
HOA -$25
Property Management Fees -$99
CASH FLOW
-$740

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.

$535,000

PROJECTED PRICE

$2,460

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.1%
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$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$147,525

INVESTMENT

$147,525

Down Payment
$133,750
Rehab Estimate
$5,750
Closing Costs
$8,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,974

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $133,750
Loan Amount $401,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$93

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,460

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $3,030

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,460
1$2,4602$2,9503$3,200
$3,200
RENT COMPS ANALYSIS
  • 7691 Marks Drive Waxahachie, TX 1
    • 4 beds 4 baths ∙ 3,140 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,140 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,460
    • $0.78
    •  
  • 1320 Billingsley Drive Waxahachie, TX 2
    • 4 beds 3 baths ∙ 3,106 Sqft ∙ Built 2018 4 beds 3 baths ∙ 3,106 Sqft ∙ Built 2018
    property image
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.95
    •  
  • 8651 Glen Eagles Drive Ovilla, TX 3
    • 4 beds 3 baths ∙ 3,277 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,277 Sqft ∙ Built 2001
    property image
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.98
    •  
PROPERTY LISTING DETAILS
Diane Hood
Berkshire Hathawayhs Worldwide
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14476491
Last Updated: 11/24/2020
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