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810 Morningside Trail Murphy, TX 75094

4 Beds 4 Baths 3,509 sqft Built 2004

$410,000

List Price

$2,410

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $116.84
  • 3 Days on Market
  • MLS # : 14479118
  • Updated Date : 12/04/2020 at 14:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,509 sqft
  • Baths : 3 full , 1 half
Listing Agent

Colleen Frost Real Estate Serv

Listing Agent's Description

This gently lived in Maxwell Creek home with 2 MASTERS-1 UP & 1 DOWN, feeds to Top Rated Wylie ISD schools and won't be available long! On just over a quarter acre, this gorgeous property sports TWO Master Suites, an open floor plan, vaulted ceilings, and so much more. The large, granite kitchen and butlers pantry are perfect for entertaining, and little ones and pets will love the expansive back yard. Don't miss this great opportunity!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Maxwell Creek North

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k458k

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

Neighborhood: Maxwell Creek North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262522

* 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
Tibbals Elementary School Primary Regular 613 37 10
Raymond B. Cooper Junior High School Middle Regular 748 44 10
Raymond B. Cooper Junior High School High Regular 748 44 10

Tibbals Elementary School

  • Education Level: Primary
  • # of students: 613
  • # of teachers: 37
10
GreatSchools Rating

Raymond B. Cooper Junior High School

  • Education Level: Middle
  • # of students: 748
  • # of teachers: 44
10
GreatSchools Rating

Raymond B. Cooper Junior High School

  • Education Level: High
  • # of students: 748
  • # of teachers: 44
10
GreatSchools Rating
 

$369,000$451,000$410,000

PURCHASE PRICE

$2,169$2,651$2,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,410
EXPENSES Loan Payment -$1,513
Property Tax -$718
Property Insurance -$230
HOA -$48
Property Management Fees -$99
CASH FLOW
-$197

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$410,000

PROJECTED PRICE

$2,410

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.5%
Maintenance Year (1-5) 8.00%
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-$5.0k$0.0$5.0k$10k

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$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,513

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$8,646

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,410

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,465

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,3003$2,4104$2,4505$2,600
$2,600
RENT COMPS ANALYSIS
  • 810 Morningside Trail Murphy, TX 3
    • 4 beds 4 baths ∙ 3,509 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,509 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,410
    • $0.69
    •  
  • 909 Appalachian Drive Wylie, TX 1
    • 4 beds 3 baths ∙ 3,300 Sqft ∙ Built 2010 4 beds 3 baths ∙ 3,300 Sqft ∙ Built 2010
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.68
    •  
  • 3105 Leesa Court Wylie, TX 2
    • 4 beds 3 baths ∙ 3,450 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,450 Sqft ∙ Built 2006
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.67
    •  
  • 428 Cave River Drive Murphy, TX 4
    • 5 beds 4 baths ∙ 3,568 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,568 Sqft ∙ Built 2005
    property image
    LEASED 06/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.69
    •  
  • 434 Teagarden Court Murphy, TX 5
    • 4 beds 4 baths ∙ 3,383 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,383 Sqft ∙ Built 2005
    property image
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.77
    •  
PROPERTY LISTING DETAILS
Colleen Frost
Colleen Frost Real Estate Serv
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14479118
Last Updated: 12/04/2020
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