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803 S Adelaide Street Terrell, TX 75160

3 Beds 2 Baths 1,690 sqft Built 2020

$225,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
SINGLE-FAMILY
March 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $133.14
  • 6 Days on Market
  • MLS # : 14529561
  • Updated Date : 03/10/2021 at 09:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,690 sqft
  • Baths : 2 full
Listing Agent

Exp Realty, Llc

Listing Agent's Description

Can anyone say NEW BUILD? Well without further and at very attractive price with this limited inventory of homes, come check out the beautifully built house with crown molding throughout all living areas and the master bedroom. Ceramic tile throughout all living areas, so perfect for easy maintenance! All granite countertops within the kitchen and bathrooms. This house has a HUGE island, perfect for entertaining guests. The yard space is also very spacious and perfect for spring and summer grilling. So come check out this house before it's too late! ******OPEN HOUSE ALERT******* MARCH 13TH-14TH, SAT. & SUN. 11AM-3PM

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: 75160

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 75160

ZipNIR Market*CityMarket2010Year20002019 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
J.w. Long Elementary School Primary Regular 624 37 4
Herman Furlough Jr. Middle School Middle Regular 593 41 4
Terrell High School High Regular 1,087 79 3

J.w. Long Elementary School

  • Education Level: Primary
  • # of students: 624
  • # of teachers: 37
4
GreatSchools Rating

Herman Furlough Jr. Middle School

  • Education Level: Middle
  • # of students: 593
  • # of teachers: 41
4
GreatSchools Rating

Terrell High School

  • Education Level: High
  • # of students: 1,087
  • # of teachers: 79
3
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$782
Property Tax -$580
Property Insurance -$125
Property Management Fees -$99
CASH FLOW
-$95

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.

$225,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,625

INVESTMENT

$61,625

Down Payment
$56,250
Rehab Estimate
$2,000
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$3,073

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
  • $0.88

    LIST RENT PER SQFT
  • $1,496

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,4503$1,4904$1,5955$1,795
$1,795
RENT COMPS ANALYSIS
  • 803 S Adelaide Street Terrell, TX 3
    • 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.88
    •  
  • 108 Roosevelt Court Terrell, TX 1
    • 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 2001
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.89
    •  
  • 515 Mt Olive Street Terrell, TX 2
    • 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 2019
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.85
    •  
  • 102 Brooks Drive Terrell, TX 4
    • 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 2018
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.90
    •  
  • 115 Brooks Street Terrell, TX 5
    • 3 beds 3 baths ∙ 1,986 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,986 Sqft ∙ Built 2018
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.90
    •  
PROPERTY LISTING DETAILS
John Penzo
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14529561
Last Updated: 03/10/2021
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