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806 10th Street Princeton, TX 75407

4 Beds 2 Baths 1,720 sqft Built 1982

$199,900

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $116.22
  • 2 Days on Market
  • MLS # : 14471485
  • Updated Date : 11/14/2020 at 04:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,720 sqft
  • Baths : 2 full
Listing Agent

Re/max Dfw Associates

Listing Agent's Description

Adorable 4 bedroom home. Well maintained. 3 bedrooms downstairs and one upstairs. Plenty of space for entertaining family and friends. New laminate flooring. Freshly painted throughout. Many updates throughout this wonderful home! Spacious master bedroom and nice sized secondary bedrooms. Great backyard with beautiful covered deck. Storm shelter and storage building. This home will not disappoint!

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: 75407

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $114k243k

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

Zip Code: 75407

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8671734

* 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
Godwin Elementary School Primary Regular 683 40 8
Clark Junior High School Middle Regular 540 33 8
Princeton High School High Regular 1,048 67 6

Godwin Elementary School

  • Education Level: Primary
  • # of students: 683
  • # of teachers: 40
8
GreatSchools Rating

Clark Junior High School

  • Education Level: Middle
  • # of students: 540
  • # of teachers: 33
8
GreatSchools Rating

Princeton High School

  • Education Level: High
  • # of students: 1,048
  • # of teachers: 67
6
GreatSchools Rating
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$738
Property Tax -$417
Property Insurance -$127
Property Management Fees -$99
CASH FLOW
$60

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.

$199,900

PROJECTED PRICE

$1,440

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

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

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$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$16,196

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,621

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3953$1,4004$1,4405$1,500
$1,500
RENT COMPS ANALYSIS
  • 806 10th Street Princeton, TX 4
    • 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 1982 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.84
    •  
  • 802 Wilson Drive Princeton, TX 1
    • 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 1970
    LEASED 06/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.94
    •  
  • 912 N 4th Street Princeton, TX 2
    • 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1965
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.96
    •  
  • 1424 Longneck Road Princeton, TX 3
    • 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1972
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.95
    •  
  • 611 Mable Avenue Princeton, TX 5
    • 3 beds 2 baths ∙ 1,626 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,626 Sqft ∙ Built 1972
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.92
    •  
PROPERTY LISTING DETAILS
Tim Allread
Re/max Dfw Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471485
Last Updated: 11/14/2020
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