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PROPERTY INFO
FACTS
- Single Family
- Built In 2019
- Price/Sqft : $168.18
- 5 Days on Market
- MLS # : 14521583
- Updated Date : 02/24/2021 at 17:00
CONSTRUCTION
- Beds : 3
- Floor Size : 2,527 sqft
- Baths : 2 full
Listing Agent
Ebby Halliday, Realtors Mckinney
Listing Agent's Description
New construction - 3 bedroom, 2 bath with Dining Room or Study. This home features include laminate flooring throughout most, carpet in the bedrooms and tile floors in the baths. The Master bath has granite countertops, double sinks, tile floors, a separate shower and a garden tub. Hall bath also features double lavs and tile flooring. Ceiling fans in all rooms and wood-burning Fireplace with granite face and hearth. A large covered patio for enjoying the evenings in this counter setting. Close to shopping and the new Collin County College under construction. NO HOA.
SEE MORE
- . 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: 75442
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 75442
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,350 |
| EXPENSES | Loan Payment | -$1,476 |
| Property Tax | -$826 | |
| Property Insurance | -$173 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$224
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.
$425,000
PROJECTED PRICE
$2,350
PROJECTED RENT
0.55%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.78% |
| Appreciation Year (1-5) | 9.8% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.39% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$118,375
LOAN DETAILS
$1,476
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $106,250 |
| Loan Amount | $318,750 |
2
YEARS SAVED
$5,757
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,350
LIST RENT -
$0.93
LIST RENT PER SQFT
-
$2,426
COMP ESTIMATED VALUE -
$0.96
COMP AVG. RENT PER SQFT
Comps Range
-
870 Southgate Court Farmersville, TX 3
- 3 beds 2 baths ∙ 2,527 Sqft ∙ Built 2019 3 beds 2 baths ∙ 2,527 Sqft ∙ Built 2019
- Rent
- Rent Per SQFT
- $2,350
- $0.93
-
861 Lester Burt Road Farmersville, TX 1
- 3 beds 2 baths ∙ 2,240 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,240 Sqft ∙ Built 2008
LEASED 05/20/20- Rent
- Rent Per SQFT
- $2,100
- $0.94
-
727 Lester Burt Road Farmersville, TX 2
- 4 beds 3 baths ∙ 2,192 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,192 Sqft ∙ Built 2007
LEASED 07/10/20- Rent
- Rent Per SQFT
- $2,100
- $0.96
-
865 Southgate Court Farmersville, TX 4
- 3 beds 2 baths ∙ 2,591 Sqft ∙ Built 2020 3 beds 2 baths ∙ 2,591 Sqft ∙ Built 2020
LEASED 10/08/20- Rent
- Rent Per SQFT
- $2,550
- $0.98
PROPERTY LISTING DETAILS
Ebby Halliday, Realtors Mckinney
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14521583
Last Updated: 02/24/2021
