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813 Holbrook Road Springtown, TX 76082

3 Beds 2 Baths 2,055 sqft Built 2020

$278,900

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $135.72
  • 6 Days on Market
  • MLS # : 14464298
  • Updated Date : 11/03/2020 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,055 sqft
  • Baths : 2 full
Listing Agent

Ntex Realty, Lp

Listing Agent's Description

Step inside to a home that welcomes you with an open floor plan and 3 generously-sized bedrooms. The kitchen serves up ample prep space that includes a large center island. The pantry is like a room on its own, so you can stash everything you need for your culinary activity. The owners suite is an awe-inspiring space with a huge bedroom that affords a sitting space, a walk-in closet, and a bath that gives both a soaking tub and step-in shower. The other 2 bedrooms share the second full bath in the home. Riverside Homebuilders includes many finishes in the Bailey, like a hall bench in the mudroom, granite countertops, and crown molding.

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: 76082

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 76082

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8791734

* 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
Goshen Creek Elementary School Primary Regular 539 32 5
Springtown Middle School Middle Regular 530 35 6
Springtown High School High Regular 912 72 5

Goshen Creek Elementary School

  • Education Level: Primary
  • # of students: 539
  • # of teachers: 32
5
GreatSchools Rating

Springtown Middle School

  • Education Level: Middle
  • # of students: 530
  • # of teachers: 35
6
GreatSchools Rating

Springtown High School

  • Education Level: High
  • # of students: 912
  • # of teachers: 72
5
GreatSchools Rating
 

$251,010$306,790$278,900

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,029
Property Tax -$580
Property Insurance -$146
Property Management Fees -$99
CASH FLOW
-$144

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.

$278,900

PROJECTED PRICE

$1,710

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.6%
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$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,909

INVESTMENT

$75,909

Down Payment
$69,725
Rehab Estimate
$2,000
Closing Costs
$4,184

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,725
Loan Amount $209,175
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$4,861

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,706

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4003$1,7104$2,495
$2,495
RENT COMPS ANALYSIS
  • 813 Holbrook Road Springtown, TX 3
    • 3 beds 2 baths ∙ 2,055 Sqft ∙ Built 2020 3 beds 2 baths ∙ 2,055 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.83
    •  
  • 253 Firefly Drive Springtown, TX 1
    • 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 2007
    property image
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.70
    •  
  • 252 Lovers Path Drive Springtown, TX 2
    • 3 beds 2 baths ∙ 1,981 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,981 Sqft ∙ Built 2007
    property image
    LEASED 06/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.71
    •  
  • 2048 Dash Lane Springtown, TX 4
    • 3 beds 2 baths ∙ 2,315 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,315 Sqft ∙ Built 2018
    property image
    LEASED 10/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.08
    •  
PROPERTY LISTING DETAILS
Clinton Shipley
Ntex Realty, Lp
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464298
Last Updated: 11/03/2020
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