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85 Crown Road Willow Park, TX 76087

3 Beds 3 Baths 2,847 sqft Built 1984

$498,500

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $175.10
  • 3 Days on Market
  • MLS # : 14478326
  • Updated Date : 12/11/2020 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,847 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Enjoy evenings on your extended covered patio poolside with sunset views off the bluff of the valley and golf course below! This beautifully updated ranch-style home on 1.79 acres boasts a double master floor plan. Each oversized master suite has their own full bath and stunning views of the backyard oasis. For the musically inclined, the newly-added second master has extra sound-proofing and a large connected flex-space perfect for a recording studio or a very large comfortable home office space. Kitchen remodeled with upgraded appliances, glass backsplash, granite countertops; lots of counter and storage space. Original 4th BR converted into formal dining, but can easily be converted back into BR.

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: 76087

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k342k

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

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Mcanally Intermediate School Primary Regular 785 43 7
Aledo Middle School Middle Regular 804 47 9
Aledo High School High Regular 1,193 72 7

Mcanally Intermediate School

  • Education Level: Primary
  • # of students: 785
  • # of teachers: 43
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
 

$448,650$548,350$498,500

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,839
Property Tax -$1,141
Property Insurance -$192
Property Management Fees -$99
CASH FLOW
-$1,191

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.

$498,500

PROJECTED PRICE

$2,080

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0

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$137,853

INVESTMENT

$137,853

Down Payment
$124,625
Rehab Estimate
$5,750
Closing Costs
$7,478

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,839

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,625
Loan Amount $373,875
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$9

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,240

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$2,0803$2,3754$2,495
$2,495
RENT COMPS ANALYSIS
  • 85 Crown Road Willow Park, TX 2
    • 3 beds 3 baths ∙ 2,847 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,847 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $0.73
    •  
  • 310 Fairway Drive Willow Park, TX 1
    • 3 beds 3 baths ∙ 2,612 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,612 Sqft ∙ Built 1984
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.69
    •  
  • 922 Thistle Hill Trail Weatherford, TX 3
    • 4 beds 3 baths ∙ 3,051 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,051 Sqft ∙ Built 2004
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.78
    •  
  • 413 Big Creek Road Willow Park, TX 4
    • 3 beds 3 baths ∙ 2,818 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,818 Sqft ∙ Built 1984
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.89
    •  
PROPERTY LISTING DETAILS
Briana Hipps
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14478326
Last Updated: 12/11/2020
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