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849 Chanticleers Lane Abilene, TX 79602

3 Beds 2 Baths 1,485 sqft Built 1983

$173,000

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $116.50
  • 3 Days on Market
  • MLS # : 14503508
  • Updated Date : 01/22/2021 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,485 sqft
  • Baths : 2 full
Listing Agent

Tommy Simons & Associates, Realtors

Listing Agent's Description

Very well maintained house in the Canterbury subdivision, directly across from Craig Middle School! This home is gorgeous and features a covered back porch AND built in firepit in the backyard for extra relaxation! There is ceramic tile throughout with a brick, wood burning fireplace that really makes the living room pop! This is an excellent home for your family and will not last long!

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

Neighborhood: South E. Highway 80

ZipNIR Market*CityMarket2010Year2005 Q3201970k80k90k100k110k120k130k140k150k160k170k180kPrice in $66k189k

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

Neighborhood: South E. Highway 80

ZipNIR Market*CityMarket2015Year20112019 Q28509009501000105011001150120012501300Rent in $8171309

* 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
Thomas Elementary School Primary Regular 551 34 6
Craig Middle School Middle Regular 911 61 4
Abilene High School High Regular 1,925 131 4

Thomas Elementary School

  • Education Level: Primary
  • # of students: 551
  • # of teachers: 34
6
GreatSchools Rating

Craig Middle School

  • Education Level: Middle
  • # of students: 911
  • # of teachers: 61
4
GreatSchools Rating

Abilene High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 131
4
GreatSchools Rating
 

$155,700$190,300$173,000

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$601
Property Tax -$372
Property Insurance -$112
Property Management Fees -$99
CASH FLOW
$86

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 18% of earned rent to cover both maintenance and periods of vacancy.

$173,000

PROJECTED PRICE

$1,270

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 4.2%
Maintenance Year (1-5) 8.00%
Vacancy 9.90%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$51,595

INVESTMENT

$51,595

Down Payment
$43,250
Rehab Estimate
$5,750
Closing Costs
$2,595

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$601

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $43,250
Loan Amount $129,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$5,623

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,270

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,270
1$1,2702$1,2753$1,2954$1,4005$1,495
$1,495
RENT COMPS ANALYSIS
  • 849 Chanticleers Lane Abilene, TX 1
    • 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $0.86
    •  
  • 865 Chanticleers Lane Abilene, TX 2
    • 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 1983
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.86
    •  
  • 826 Alisons Way Abilene, TX 3
    • 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1983
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.88
    •  
  • 642 Harwell Street Abilene, TX 4
    • 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 1964
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.86
    •  
  • 801 Milford Street Abilene, TX 5
    • 3 beds 2 baths ∙ 1,825 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,825 Sqft ∙ Built 1974
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.82
    •  
PROPERTY LISTING DETAILS
Tommy Simons
Tommy Simons & Associates, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14503508
Last Updated: 01/22/2021
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