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8271 Faithful Drive Waxahachie, TX 75167

4 Beds 3 Baths 3,161 sqft Built 2019

$489,900

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $154.98
  • 2 Days on Market
  • MLS # : 14485526
  • Updated Date : 12/12/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,161 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Nexxus custom home on over 1.3 acre lot in Legacy Estates! Transitional exterior with black plate glass windows and gray stone accents! The floor plan is open, spacious, and has two living areas, formal dining, private study with closet and French doors! The kitchen has a huge walk-in pantry, an abundance of cabinetry, large central island, SS appliances, including double ovens, and breakfast bar! The master retreat has a sitting area and gorgeous bath with huge walk-in closet and full length mirror! Secondary bedrooms are also large and two share a J&J style bath. Features include beautiful hardwoods, stone fireplace, granite throughout, huge rear porch, and the foundation has piers!

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: 75167

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $116k253k

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

Zip Code: 75167

ZipNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10122077

* 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
Longbranch Elementary School Primary Regular 705 42 7
Walnut Grove Middle School Middle Regular 1,014 55 8
Heritage High School High Regular NA

Longbranch Elementary School

  • Education Level: Primary
  • # of students: 705
  • # of teachers: 42
7
GreatSchools Rating

Walnut Grove Middle School

  • Education Level: Middle
  • # of students: 1,014
  • # of teachers: 55
8
GreatSchools Rating

Heritage High School

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

$440,910$538,890$489,900

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$1,808
Property Tax -$819
Property Insurance -$210
HOA -$38
Property Management Fees -$99
CASH FLOW
-$722

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$489,900

PROJECTED PRICE

$2,250

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 3.00%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,824

INVESTMENT

$131,824

Down Payment
$122,475
Rehab Estimate
$2,000
Closing Costs
$7,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,808

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $122,475
Loan Amount $367,425
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$44

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $3,047

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,9503$3,200
$3,200
RENT COMPS ANALYSIS
  • 8271 Faithful Drive Waxahachie, TX 1
    • 4 beds 3 baths ∙ 3,157 Sqft ∙ Built 2019 4 beds 3 baths ∙ 3,157 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.71
    •  
  • 1320 Billingsley Drive Waxahachie, TX 2
    • 4 beds 3 baths ∙ 3,106 Sqft ∙ Built 2018 4 beds 3 baths ∙ 3,106 Sqft ∙ Built 2018
    property image
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.95
    •  
  • 8651 Glen Eagles Drive Ovilla, TX 3
    • 4 beds 3 baths ∙ 3,277 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,277 Sqft ∙ Built 2001
    property image
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.98
    •  
PROPERTY LISTING DETAILS
Charlotte Shipley
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14485526
Last Updated: 12/12/2020
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