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7840 Cottonwood Greenville, TX 75402

3 Beds 2 Baths 1,524 sqft Built 2020

$245,408

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $161.03
  • 7 Days on Market
  • MLS # : 14472216
  • Updated Date : 11/20/2020 at 09:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,524 sqft
  • Baths : 2 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14472216 - Built by Altura Homes - February completion! ~ The Cherry II is a well-designed single-story home with three bedrooms, two baths and two-car garage.. Welcomes you into an open family room. Kitchen is open to the dining area, corner walk-in pantry and island. Master suite has dual sinks garden tub, separate shower, large walk-in-closet. Designed with you in mind …designer colors. Stone elevation, full sod, sprinkler and fence, gas range, tankless hot water heater, radiant barrier decking, vinyl windows, plus more...

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$220,867$269,949$245,408

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$905
Property Tax -$552
Property Insurance -$115
HOA -$10
Property Management Fees -$99
CASH FLOW
-$241

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.

$245,408

PROJECTED PRICE

$1,440

PROJECTED RENT

0.59%

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

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$67,033

INVESTMENT

$67,033

Down Payment
$61,352
Rehab Estimate
$2,000
Closing Costs
$3,681

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$905

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,352
Loan Amount $184,056
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$649

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,433

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,440
1$1,4402$1,5003$1,5004$1,5005$1,575
$1,575
RENT COMPS ANALYSIS
  • 7840 Cottonwood Greenville, TX 1
    • 3 beds 2 baths ∙ 1,524 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,524 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.94
    •  
  • 123 Frank Street Greenville, TX 2
    • 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 2019
    property image
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.93
    •  
  • 119 Frank Street Greenville, TX 3
    • 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 2019
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.93
    •  
  • 106 Frank Street Greenville, TX 4
    • 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
    •  
  • 603 Redwood Drive Greenville, TX 5
    • 3 beds 2 baths ∙ 1,621 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,621 Sqft ∙ Built 2019
    property image
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.97
    •  
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 #: 14472216
Last Updated: 11/20/2020
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