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808 N Virginia Street Terrell, TX 75160

4 Beds 2 Baths 1,576 sqft Built 2021

$200,000

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $126.90
  • 2 Days on Market
  • MLS # : 14509579
  • Updated Date : 01/30/2021 at 16:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,576 sqft
  • Baths : 2 full
Listing Agent

Re/max Elite

Listing Agent's Description

Original home was built in turn of the century. What a beauty. Home has been taken all the way down to it's studs. Built brand new all the way up. 4 bedrooms, but the the rooms are so large one can definitly be used as an office, or second living area. Beautiful and large windows to let in all the natural light. You will truly want to see this house.

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: 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
W. H. Burnett Elementary School Primary Regular 595 32 NA
Herman Furlough Jr. Middle School Middle Regular 593 41 4
Terrell High School High Regular 1,087 79 3

W. H. Burnett Elementary School

  • Education Level: Primary
  • # of students: 595
  • # of teachers: 32
NA
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
 

$180,000$220,000$200,000

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$695
Property Tax -$515
Property Insurance -$136
Property Management Fees -$99
CASH FLOW
$26

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.

$200,000

PROJECTED PRICE

$1,470

PROJECTED RENT

0.74%

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$6.0k

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$55,000

INVESTMENT

$55,000

Down Payment
$50,000
Rehab Estimate
$2,000
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$695

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $50,000
Loan Amount $150,000
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$8,880

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,618

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,4503$1,4704$1,4755$1,595
$1,595
RENT COMPS ANALYSIS
  • 808 N Virginia Street Terrell, TX 3
    • 4 beds 2 baths ∙ 1,876 Sqft ∙ Built 2021 4 beds 2 baths ∙ 1,876 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.78
    •  
  • 103 Stoney Creek Lane Terrell, TX 1
    • 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 2006
    property image
    LEASED 09/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.84
    •  
  • 245 Willow Creek Lane Terrell, TX 2
    • 3 beds 2 baths ∙ 1,693 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,693 Sqft ∙ Built 2006
    property image
    LEASED 09/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.86
    •  
  • 112 Pebble Creek Lane Terrell, TX 4
    • 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 2004
    property image
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.83
    •  
  • 106 Brushy Creek Lane Terrell, TX 5
    • 3 beds 2 baths ∙ 1,743 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,743 Sqft ∙ Built 2006
    property image
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.92
    •  
PROPERTY LISTING DETAILS
Lucinda Gadson
Re/max Elite
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509579
Last Updated: 01/30/2021
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