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817 Highlands Avenue Aledo, TX 76008

4 Beds 3 Baths 2,522 sqft Built 2020

$439,990

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
SINGLE-FAMILY
March 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $174.46
  • 5 Days on Market
  • MLS # : 14519175
  • Updated Date : 03/03/2021 at 11:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,522 sqft
  • Baths : 3 full
Listing Agent

Berkshire Hathawayhs Acr

Listing Agent's Description

Fabulous 2020-built modern farmhouse right by the neighborhood park in highly-sought after Parks of Aledo! Welcome home to this gorgeous 4-bed, 3-bath home plus an upstairs bonus space. Snuggle up by the timeless brick fireplace in this living area featuring wood ceiling beams & open concept living or enjoy the nice-sized backyard with upgraded landscape package! With hardwood floors throughout the downstairs & window treatments, this less than 1-yr-old home is better than new! Features include a brick arch leading from front foyer to living & large, covered front porch, all in award-winning Aledo ISD. Parks of Aledo offers neighborhood parks, community garden, hike & bike trails and so much 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: 76008

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k393k

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

Zip Code: 76008

ZipNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262811

* 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
Coder Elementary School Primary Regular 425 27 7
Aledo Middle School Middle Regular 804 47 9
Aledo High School High Regular 1,193 72 7

Coder Elementary School

  • Education Level: Primary
  • # of students: 425
  • # of teachers: 27
7
GreatSchools Rating

Aledo Middle School

  • Education Level: Middle
  • # of students: 804
  • # of teachers: 47
9
GreatSchools Rating

Aledo High School

  • Education Level: High
  • # of students: 1,193
  • # of teachers: 72
7
GreatSchools Rating
 

$395,991$483,989$439,990

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$1,528
Property Tax -$985
Property Insurance -$173
HOA -$50
Property Management Fees -$99
CASH FLOW
-$236

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.

$439,990

PROJECTED PRICE

$2,600

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.5%
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$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$118,597

INVESTMENT

$118,597

Down Payment
$109,998
Rehab Estimate
$2,000
Closing Costs
$6,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,528

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $109,998
Loan Amount $329,993
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$4,744

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,600

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $2,585

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,5003$2,6004$2,6955$2,700
$2,700
RENT COMPS ANALYSIS
  • 817 Highlands Avenue Aledo, TX 3
    • 4 beds 3 baths ∙ 2,522 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,522 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.03
    •  
  • 197 Winged Foot Drive Willow Park, TX 1
    • 3 beds 2 baths ∙ 2,191 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,191 Sqft ∙ Built 2008
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.10
    •  
  • 713 Westgate Drive Aledo, TX 2
    • 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 2015
    property image
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.98
    •  
  • 509 Christel Sun Lane Aledo, TX 4
    • 4 beds 3 baths ∙ 2,662 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,662 Sqft ∙ Built 2021
    property image
    LEASED 02/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.01
    •  
  • 425 Prairie Run Aledo, TX 5
    • 4 beds 4 baths ∙ 2,679 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,679 Sqft ∙ Built 2015
    property image
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.01
    •  
PROPERTY LISTING DETAILS
Aleshia Howe
Berkshire Hathawayhs Acr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14519175
Last Updated: 03/03/2021
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