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801 Flamingo Drive Saginaw, TX 76131

4 Beds 4 Baths 2,657 sqft Built 2005

$235,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $88.45
  • 2 Days on Market
  • MLS # : 14499992
  • Updated Date : 01/16/2021 at 13:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,657 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Do not miss out on this amazing 4 bedroom, 3.5 bathroom home nestled in the quiet neighborhood of Heather Ridge Estates in Eagle Mt-Saginaw ISD. You will love the open layout with spacious living areas both downstairs and upstairs, and a nice size dining area. The bedroom downstairs has it's own on-suite and can be used as a mother-in -law suite. Huge Master bedroom upstairs with a great size master bathroom, which allows you to get creative and make it your own. Roof was replaced in 2016. Home does need some TLC and is being sold As-Is, as reflected in the price. Perfectly located near schools, shoppings, Hwys. Your Story Begins Here!

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
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$816
Property Tax -$546
Property Insurance -$181
HOA -$20
Property Management Fees -$99
CASH FLOW
$288

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.

$235,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.83%

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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

10.17

YEARS SAVED

$34,354

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,079

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$1,9503$1,9904$1,9955$2,100
$2,100
RENT COMPS ANALYSIS
  • 801 Flamingo Drive Saginaw, TX 2
    • 4 beds 4 baths ∙ 2,657 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,657 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.73
    •  
  • 609 Redwing Drive Saginaw, TX 1
    • 4 beds 2 baths ∙ 2,362 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,362 Sqft ∙ Built 2006
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.79
    •  
  • 1143 Frisco Drive Saginaw, TX 3
    • 5 beds 3 baths ∙ 2,589 Sqft ∙ Built 1997 5 beds 3 baths ∙ 2,589 Sqft ∙ Built 1997
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.77
    •  
  • 624 Mallard Drive Saginaw, TX 4
    • 4 beds 3 baths ∙ 2,506 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,506 Sqft ∙ Built 2005
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.80
    •  
  • 717 Catalpa Road Saginaw, TX 5
    • 5 beds 3 baths ∙ 2,727 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,727 Sqft ∙ Built 2005
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.77
    •  
PROPERTY LISTING DETAILS
Hector Rivera
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14499992
Last Updated: 01/16/2021
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