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788 Guthrie Lane Runaway Bay, TX 76426

3 Beds 2 Baths 1,773 sqft Built 1999

INVESTimate

$270,000

List Price

$1,490

$1,341 - $1,639

Rent Est.

$284,418  ( +5.34%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $152.28
  • 3 Days on Market
  • MLS # : 14419592
  • Updated Date : 08/25/2020 at 02:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,773 sqft
  • Baths : 2 full
Listing Agent

Parker Properties

Listing Agent's Description

Lovely 3-bedroom, 2-bath home on nearly half an acre with a beautiful saltwater pool, a large workshop, screened-in outdoor cooking area, golf cart parking, and plenty of room for RV parking. Upstairs offer an extra room perfect for a 4th bedroom, game room, or craft room. Want even more privacy, the Lot next door is available and is given first right of refusal to the buyer of the home. Runaway Bay is nestled around Lake Bridgeport and is a great place to live, work, and play and is home to an 18-hole golf course, RB Country Club.

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: 76426

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $86k243k

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

Zip Code: 76426

ZipNIR Market*Market2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* 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
Bridgeport Intermediate School Primary Regular 428 34 5
Bridgeport Middle School Middle Regular 478 38 5
Bridgeport High School High Regular 628 49 6

Bridgeport Intermediate School

  • Education Level: Primary
  • # of students: 428
  • # of teachers: 34
5
GreatSchools Rating

Bridgeport Middle School

  • Education Level: Middle
  • # of students: 478
  • # of teachers: 38
5
GreatSchools Rating

Bridgeport High School

  • Education Level: High
  • # of students: 628
  • # of teachers: 49
6
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

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-$6.0k-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$996
Property Tax -$508
Property Insurance -$129
Property Management Fees -$99
CASH FLOW
-$242

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.

$270,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.34%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$1,575

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,613

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,490
$1,490
RENT COMPS ANALYSIS
  • 788 Guthrie Lane Runaway Bay, TX 2
    • 3 beds 2 baths ∙ 1,753 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,753 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.85
    •  
  • 254 Driftwood Court Runaway Bay, TX 1
    • 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 2011
    LEASED 03/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
PROPERTY LISTING DETAILS
Laura Blackburn
Parker Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419592
Last Updated: 08/25/2020
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