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804 Songbird Lane Sherman, TX 75092

3 Beds 3 Baths 2,260 sqft Built 2021

$364,131

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $161.12
  • 2 Days on Market
  • MLS # : 14509748
  • Updated Date : 01/30/2021 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,260 sqft
  • Baths : 2 full , 1 half
Listing Agent

Highland Homes Realty

Listing Agent's Description

MLS# 14509748 - Built by Highland Homes - June completion! ~ The Denton- Our Popular Model Plan! Gorgeous White Brick, 12' Foyer, and 11' Ceilings Throughout. 8' Interior Doors with 6 inch Baseboards. Spacious Kitchen with Stained and White Custom Cabinets. Quartz Kitchen Counters. Build-In Stainless Steel Appliances with Double Oven. Wood Floors. Tankless Water Heater. 16-SEER Trane® HVAC. Smart Home Features & More!

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: 75092

ZipNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150k160k170k180k190kPrice in $60k199k

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

Zip Code: 75092

No Data Available.

* 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
Sory Elementary School Primary Regular 593 41 7
Dillingham Intermediate School Middle Regular 1,036 76 4
Sherman High School High Regular 1,780 119 5

Sory Elementary School

  • Education Level: Primary
  • # of students: 593
  • # of teachers: 41
7
GreatSchools Rating

Dillingham Intermediate School

  • Education Level: Middle
  • # of students: 1,036
  • # of teachers: 76
4
GreatSchools Rating

Sherman High School

  • Education Level: High
  • # of students: 1,780
  • # of teachers: 119
5
GreatSchools Rating
 

$327,718$400,544$364,131

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,265
Property Tax -$644
Property Insurance -$150
HOA -$25
Property Management Fees -$99
CASH FLOW
-$573

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$364,131

PROJECTED PRICE

$1,610

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 3.00%
Vacancy 6.00%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,495

INVESTMENT

$98,495

Down Payment
$91,033
Rehab Estimate
$2,000
Closing Costs
$5,462

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,265

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,033
Loan Amount $273,098
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$5

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,657

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,610
1$1,6102$1,7503$1,7754$1,800
$1,800
RENT COMPS ANALYSIS
  • 804 Songbird Lane Sherman, TX 1
    • 3 beds 3 baths ∙ 2,260 Sqft ∙ Built 2021 3 beds 3 baths ∙ 2,260 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.71
    •  
  • 4101 Cardinal Drive Sherman, TX 2
    • 4 beds 3 baths ∙ 2,313 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,313 Sqft ∙ Built 2004
    LEASED 08/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.76
    •  
  • 1917 Stonebrook Lane Sherman, TX 3
    • 4 beds 3 baths ∙ 2,568 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,568 Sqft ∙ Built 2002
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.69
    •  
  • 4105 Cardinal Drive Sherman, TX 4
    • 4 beds 3 baths ∙ 2,395 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,395 Sqft ∙ Built 2003
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.75
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Highland Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509748
Last Updated: 01/30/2021
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