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804 Cottonwood Way Josephine, TX 75189

4 Beds 2 Baths 1,836 sqft Built 2021

$219,990

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2021
  • Price/Sqft : $119.82
  • 5 Days on Market
  • MLS # : 14465404
  • Updated Date : 11/04/2020 at 11:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,836 sqft
  • Baths : 2 full
Listing Agent

Jeanette Anderson Real Estate

Listing Agent's Description

New! Super cute, four bedroom, two bath with open floor plan. Home includes, island kitchen, granite counters, LED lighting, full sprinkler system and much more! Located in great community with community pool, park, playground and more! Schedule a tour today! Stage 5

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: 75189

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $108k336k

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

Zip Code: 75189

ZipNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500160017001800190020002100Rent in $7192171

* 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
Phyliss Nesmith Elementary School Primary Regular 469 26 7
Edge Middle School Middle Regular 441 26 4
Community High School High Regular 507 39 6

Phyliss Nesmith Elementary School

  • Education Level: Primary
  • # of students: 469
  • # of teachers: 26
7
GreatSchools Rating

Edge Middle School

  • Education Level: Middle
  • # of students: 441
  • # of teachers: 26
4
GreatSchools Rating

Community High School

  • Education Level: High
  • # of students: 507
  • # of teachers: 39
6
GreatSchools Rating
 

$197,991$241,989$219,990

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$812
Property Tax -$448
Property Insurance -$133
HOA -$40
Property Management Fees -$99
CASH FLOW
$128

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.

$219,990

PROJECTED PRICE

$1,660

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
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

PROJECTED ANNUAL CASH FLOW

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

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$60,297

INVESTMENT

$60,297

Down Payment
$54,998
Rehab Estimate
$2,000
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$812

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,998
Loan Amount $164,993
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$25,086

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,671

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,660
1$1,6602$1,7503$1,850
$1,850
RENT COMPS ANALYSIS
  • 804 Cottonwood Way Josephine, TX 1
    • 4 beds 2 baths ∙ 1,836 Sqft ∙ Built 2021 4 beds 2 baths ∙ 1,836 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.90
    •  
  • 500 Milo Way Josephine, TX 2
    • 4 beds 2 baths ∙ 1,891 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,891 Sqft ∙ Built 2019
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.93
    •  
  • 403 Shiplap Lane Josephine, TX 3
    • 4 beds 3 baths ∙ 2,074 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,074 Sqft ∙ Built 2018
    property image
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.89
    •  
PROPERTY LISTING DETAILS
Bryan Reasor
Jeanette Anderson Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465404
Last Updated: 11/04/2020
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