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8233 Courtney Way Watauga, TX 76148

4 Beds 3 Baths 2,336 sqft Built 2008

$339,900

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $145.51
  • 5 Days on Market
  • MLS # : 14523277
  • Updated Date : 03/06/2021 at 06:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,336 sqft
  • Baths : 3 full
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

MULTIPLE OFFERS RECEIVED. DEADLINE FOR HIGHEST & BEST DUE BY SATURDAY, MARCH 6 @ 5PM. Meticulously maintained 2-story Bloomfield home in Durham Farms is move-in ready & loaded w great features! 3 bedrooms & 2 full bathrooms downstairs w a gameroom, built-in desk, bedroom & full bath upstairs. The formal dining could also work as a home office due to the spacious open-concept kitchen & breakfast room that overlook the main living space. Granite countertops, island w breakfast bar & stainless appliances, along w plentiful cabinet storage make this kitchen a dream come true; NEW roof 2019; NEW hot water heater 2019; 2 NEW HVACS 2020 AND Solar Panels 2017 with a 20 yr transferable warranty.

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: 76148

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $84k243k

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

Zip Code: 76148

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8471734

* 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
Green Valley Elementary School Primary Regular 491 30 10
Richland High School High Regular 2,137 135 7
Green Valley Elementary School Primary Unknown NA

Green Valley Elementary School

  • Education Level: Primary
  • # of students: 491
  • # of teachers: 30
10
GreatSchools Rating

Richland High School

  • Education Level: High
  • # of students: 2,137
  • # of teachers: 135
7
GreatSchools Rating

Green Valley Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$305,910$373,890$339,900

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,181
Property Tax -$751
Property Insurance -$162
HOA -$29
Property Management Fees -$99
CASH FLOW
-$171

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.

$339,900

PROJECTED PRICE

$2,050

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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$95,824

INVESTMENT

$95,824

Down Payment
$84,975
Rehab Estimate
$5,750
Closing Costs
$5,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,975
Loan Amount $254,925
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,795

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,260

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,0003$2,0504$2,1005$2,200
$2,200
RENT COMPS ANALYSIS
  • 8233 Courtney Way Watauga, TX 3
    • 4 beds 3 baths ∙ 2,336 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,336 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.88
    •  
  • 621 Willowwood Trail Keller, TX 1
    • 4 beds 2 baths ∙ 2,178 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,178 Sqft ∙ Built 1996
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.87
    •  
  • 6700 Dogwood Lane North Richland Hills, TX 2
    • 4 beds 2 baths ∙ 2,160 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,160 Sqft ∙ Built 1995
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.93
    •  
  • 2118 Rim Rock Drive Keller, TX 4
    • 4 beds 3 baths ∙ 2,068 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,068 Sqft ∙ Built 1991
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.02
    •  
  • 2138 Stoneridge Drive Keller, TX 5
    • 4 beds 3 baths ∙ 2,099 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,099 Sqft ∙ Built 1991
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.05
    •  
PROPERTY LISTING DETAILS
Denise Johnson
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14523277
Last Updated: 03/06/2021
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