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815 Emerald Drive Princeton, TX 75407

5 Beds 3 Baths 2,565 sqft Built 2019

$299,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $116.57
  • 3 Days on Market
  • MLS # : 14493014
  • Updated Date : 01/02/2021 at 17:41
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,565 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fathom Realty

Listing Agent's Description

LIKE NEW!!! This charming D. R. Horton home is move-in ready. Features 5 bedrooms, granite countertops in kitchen, large game room upstairs, large master bedroom with sitting area, and a comfortable backyard that faces a quiet greenbelt with walking trails. Upgrades include expoxy garage floor, water filtration system throughout home with reverse osmosis, window blinds, custom built wooden playhouse. Neighborhood amenities include walking trails, a swimming pool and playground. Sellers have taken meticulous care of this home! Seller will be leaving refrigerator, gazebo and playset.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
Lacy Elementary School Primary Regular 695 47 6
Clark Junior High School Middle Regular 540 33 8
Princeton High School High Regular 1,048 67 6

Lacy Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 47
6
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
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,103
Property Tax -$623
Property Insurance -$175
HOA -$38
Property Management Fees -$99
CASH FLOW
-$178

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.

$299,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.62%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,984

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,808

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,7503$1,8004$1,8605$1,990
$1,990
RENT COMPS ANALYSIS
  • 815 Emerald Drive Princeton, TX 4
    • 5 beds 3 baths ∙ 2,565 Sqft ∙ Built 2019 5 beds 3 baths ∙ 2,565 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.73
    •  
  • 1109 Antoinette Drive Princeton, TX 1
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2006
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.64
    •  
  • 1234 Angelina Drive Princeton, TX 2
    • 4 beds 2 baths ∙ 2,564 Sqft ∙ Built 2012 4 beds 2 baths ∙ 2,564 Sqft ∙ Built 2012
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.68
    •  
  • 1122 Grace Drive Princeton, TX 3
    • 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 2005
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.74
    •  
  • 1004 Churchill Drive Princeton, TX 5
    • 4 beds 3 baths ∙ 2,630 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,630 Sqft ∙ Built 2018
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.76
    •  
PROPERTY LISTING DETAILS
Amy Carroll
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14493014
Last Updated: 01/02/2021
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