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833 Holbrook Road Springtown, TX 76082

4 Beds 2 Baths 1,884 sqft Built 2021

$288,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $152.87
  • 6 Days on Market
  • MLS # : 14511478
  • Updated Date : 02/02/2021 at 14:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,884 sqft
  • Baths : 2 full
Listing Agent

Silversage Realty

Listing Agent's Description

This beautiful McBee Home is a 4 bedroom, 2 bath floor plan with a kitchen and dining area that features a walk-in pantry and large island. The kitchen is open to the living and dining room. Great for entertaining! The master suite is incredibly spacious and the master bath features double vanity sinks, a walk-in custom shower and a huge walk in closet. Nice sized front porch and back covered patio. Close to Walnut Creek in Springtown, the new Holbrook Farm community is perfect for active, growing families. The nearby 33-acre Springtown Park provides year-round opportunities for fitness and exploration with quiet walking trails winding through the park, playgrounds for the young ones.

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: 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
 

$259,200$316,800$288,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,000
Property Tax -$599
Property Insurance -$136
Property Management Fees -$99
CASH FLOW
-$214

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.

$288,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.56%

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

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$78,320

INVESTMENT

$78,320

Down Payment
$72,000
Rehab Estimate
$2,000
Closing Costs
$4,320

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,000

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,000
Loan Amount $216,000
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$1,552

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,554

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,5753$1,620
$1,620
RENT COMPS ANALYSIS
  • 833 Holbrook Road Springtown, TX 3
    • 4 beds 2 baths ∙ 1,884 Sqft ∙ Built 2021 4 beds 2 baths ∙ 1,884 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.86
    •  
  • 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
    •  
  • 340 Lynch Bend Road Springtown, TX 2
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2017
    property image
    LEASED 09/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.95
    •  
PROPERTY LISTING DETAILS
Sharon Mcbee
Silversage Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14511478
Last Updated: 02/02/2021
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