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7824 Cottonwood Greenville, TX 75402

3 Beds 2 Baths 1,698 sqft Built 2020

$248,552

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $146.38
  • 6 Days on Market
  • MLS # : 14486582
  • Updated Date : 12/15/2020 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,698 sqft
  • Baths : 2 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14486582 - Built by Altura Homes - February completion! ~ The Hickory is a sensibly designed single-story home with four bedrooms two baths and two car garage with a sprawling family room.. An open kitchen that leads into a naturally bright nook and corner walk in pantry. Lovely master bedroom and bath is tucked away with spa like bathroom features, garden tub built-in separate shower and his and her walk-in closets. Enjoy a private backyard for those quiet evenings. Designed with you in mind… designer colors throughout gas range, granite countertops, upgraded ceramic tile, carpet and pad. Full sod and sprinkler with fence with a beautiful stone exterior elevation.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Zip Code: 75402

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $68k243k

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

Zip Code: 75402

ZipNIR Market*Market2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Lamar Elementary School Primary Regular 594 39 5
Greenville Middle School Middle Regular 687 46 5
Greenville High School High Regular 1,077 89 5

Lamar Elementary School

  • Education Level: Primary
  • # of students: 594
  • # of teachers: 39
5
GreatSchools Rating

Greenville Middle School

  • Education Level: Middle
  • # of students: 687
  • # of teachers: 46
5
GreatSchools Rating

Greenville High School

  • Education Level: High
  • # of students: 1,077
  • # of teachers: 89
5
GreatSchools Rating
 

$223,697$273,407$248,552

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$917
Property Tax -$559
Property Insurance -$125
HOA -$10
Property Management Fees -$99
CASH FLOW
-$150

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$248,552

PROJECTED PRICE

$1,560

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.0%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
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

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$67,866

INVESTMENT

$67,866

Down Payment
$62,138
Rehab Estimate
$2,000
Closing Costs
$3,728

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$917

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,138
Loan Amount $186,414
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,015

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,566

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5603$1,6954$1,7255$1,725
$1,725
RENT COMPS ANALYSIS
  • 7824 Cottonwood Greenville, TX 2
    • 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.92
    •  
  • 106 Frank Street Greenville, TX 1
    • 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 2019
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.93
    •  
  • 117 Arrowhead Drive Greenville, TX 3
    • 4 beds 2 baths ∙ 1,880 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,880 Sqft ∙ Built 2006
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.90
    •  
  • 632 Teakwood Drive Greenville, TX 4
    • 3 beds 2 baths ∙ 1,890 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,890 Sqft ∙ Built 2017
    property image
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.91
    •  
  • 619 Beechwood Drive Greenville, TX 5
    • 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 2017
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.95
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14486582
Last Updated: 12/15/2020
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