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776 Oriole Drive Saginaw, TX 76131

3 Beds 2 Baths 1,671 sqft Built 2002

$234,900

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $140.57
  • 5 Days on Market
  • MLS # : 14467480
  • Updated Date : 11/14/2020 at 18:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,671 sqft
  • Baths : 2 full
Listing Agent

Urbancountry Realty Llc

Listing Agent's Description

**Multiple offers received. HB 11-15 Sunday 5pm** Very rare ALL upgraded 3-2-2 home in Saginaw, Beautiful Tall ceiling makes the home bright, Boasting all upgraded kitchen with white cabinets, granite countertops, ALL new Whirlpool Stainless steel appliances and a large dining room that can cater to a large family gathering, Grandroom with large living room & Antique fireplace, Grandmaster waiting for you **Upgrades: Roof Nov2020, Foundation Oct 2020 with a lifetime warranty,Luxury Vinyl wood floors, High-end designer paint thru-out, brand new designer kitchen with granite countertop, backsplash, all new appliances, upgraded bathrooms, new extended backyard 18x12 concrete porch with large trees for outdoor fun*

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

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
 

$211,410$258,390$234,900

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$867
Property Tax -$510
Property Insurance -$124
HOA -$20
Property Management Fees -$99
CASH FLOW
-$160

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.

$234,900

PROJECTED PRICE

$1,460

PROJECTED RENT

0.62%

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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k

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$67,999

INVESTMENT

$67,999

Down Payment
$58,725
Rehab Estimate
$5,750
Closing Costs
$3,524

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,725
Loan Amount $176,175
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$2,559

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,512

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4503$1,4604$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 776 Oriole Drive Saginaw, TX 3
    • 3 beds 2 baths ∙ 1,671 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,671 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.87
    •  
  • 600 Condor Trail Saginaw, TX 1
    • 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 2005
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.87
    •  
  • 820 Eagle Drive Saginaw, TX 2
    • 3 beds 2 baths ∙ 1,553 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,553 Sqft ∙ Built 2004
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.93
    •  
  • 720 Oriole Drive Saginaw, TX 4
    • 4 beds 3 baths ∙ 1,866 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,866 Sqft ∙ Built 2001
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 736 Cardinal Drive Saginaw, TX 5
    • 3 beds 2 baths ∙ 1,804 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,804 Sqft ∙ Built 2001
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.94
    •  
PROPERTY LISTING DETAILS
Ranjeeth Vasikarla
Urbancountry Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467480
Last Updated: 11/14/2020
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