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808 Park Vista Drive Justin, TX 76247

3 Beds 2 Baths 2,314 sqft Built 2021

$406,438

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $175.64
  • 3 Days on Market
  • MLS # : 14504798
  • Updated Date : 01/22/2021 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,314 sqft
  • Baths : 2 full
Listing Agent

Classic Property Management

Listing Agent's Description

Totally New, Move-In Ready One-story built by Bloomfield Homes - Ready April 2021! Open layout with 3 beds, 2.5 bath. Rotunda entry with decorative niches. Study off entrance with walk-in closet, could be used as an additional bedroom. Formal Dining room. Deluxe Kitchen complete with built-in SS Appliances, luxury cabinetry, gas cooking, and plenty of counterspace with Natural Stone countertops. Breakfast nook off kitchen with Buffet for extra storage. Laundry Room. 3-car Garage. Great backyard space with Extended Covered Patio, Complete Wood Fence and whole lot comes landscaped. You'll love the details - arched doorways, window seats, built-in shelving. Call today to learn more!

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: 76247

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 76247

ZipNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10532171

* 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
Justin Elementary School Primary Regular 506 33 5
Gene Pike Middle School Middle Regular 743 53 7
Northwest High School High Regular 2,793 170 6

Justin Elementary School

  • Education Level: Primary
  • # of students: 506
  • # of teachers: 33
5
GreatSchools Rating

Gene Pike Middle School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 53
7
GreatSchools Rating

Northwest High School

  • Education Level: High
  • # of students: 2,793
  • # of teachers: 170
6
GreatSchools Rating
 

$365,794$447,082$406,438

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$1,412
Property Tax -$847
Property Insurance -$161
HOA -$67
Property Management Fees -$99
CASH FLOW
-$255

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.

$406,438

PROJECTED PRICE

$2,330

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.7%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$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$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,706

INVESTMENT

$109,706

Down Payment
$101,610
Rehab Estimate
$2,000
Closing Costs
$6,097

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,412

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $101,610
Loan Amount $304,829
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$3,370

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,360

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,2953$2,3304$2,550
$2,550
RENT COMPS ANALYSIS
  • 808 Park Vista Drive Justin, TX 3
    • 3 beds 2 baths ∙ 2,314 Sqft ∙ Built 2021 3 beds 2 baths ∙ 2,314 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $1.01
    •  
  • 228 Cedar Crest Drive Justin, TX 1
    • 4 beds 2 baths ∙ 2,108 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,108 Sqft ∙ Built 2007
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.90
    •  
  • 282 Hilltop Drive Justin, TX 2
    • 4 beds 3 baths ∙ 2,287 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,287 Sqft ∙ Built 2016
    property image
    LEASED 01/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.00
    •  
  • 2524 Little Wonders Lane Northlake, TX 4
    • 3 beds 3 baths ∙ 2,189 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,189 Sqft ∙ Built 2020
    property image
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.16
    •  
PROPERTY LISTING DETAILS
Marsha Ashlock
Classic Property Management
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504798
Last Updated: 01/22/2021
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