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8829 Hidden Pond Drive New Fairview, TX 76247

4 Beds 3 Baths 2,691 sqft Built 2021

$478,900

List Price

$2,410

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $177.96
  • 2 Days on Market
  • MLS # : 14509754
  • Updated Date : 01/30/2021 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,691 sqft
  • Baths : 3 full
Listing Agent

Fathom Realty

Listing Agent's Description

*All photos attached are for reference only of what we have built and can build. Call Beth Ross at 910-590-8244 for more information.* Falcon Ridge is a beautiful peaceful community located in New Fairview, TX off of 407. With minimum .50 acre lots and privacy fencing included. We have around 5-6 lots left available to build your dream home on. We have several different plans to choose from ranging from 2400 sf - 3476 sf. Our pricing starts around $450,000 and up; prices subject to change. We have 3 available specs currently that will be completed by April and June timeframe. All of our plans can be customized to fit your needs and desires. Contact Beth Ross for all further information to build your dream home.

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

Neighborhood: Ski Haven

NeighborhoodNIR Market*Market2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $122k398k

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

Neighborhood: Ski Haven

NeighborhoodNIR Market*Market2010Year20002019 Q212001400160018002000220024002600Rent in $11262602

* 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
Justin Elementary School Primary Regular 506 33 5
Gene Pike Middle School Middle Regular 743 53 7
Northwest High School High Regular 2,793 170 6

Justin Elementary School

  • Education Level: Primary
  • # of students: 506
  • # of teachers: 33
5
GreatSchools Rating

Gene Pike Middle School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 53
7
GreatSchools Rating

Northwest High School

  • Education Level: High
  • # of students: 2,793
  • # of teachers: 170
6
GreatSchools Rating
 

$431,010$526,790$478,900

PURCHASE PRICE

$2,169$2,651$2,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,410
EXPENSES Loan Payment -$1,663
Property Tax -$998
Property Insurance -$183
HOA -$42
Property Management Fees -$99
CASH FLOW
-$575

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.

$478,900

PROJECTED PRICE

$2,410

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.7%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,909

INVESTMENT

$128,909

Down Payment
$119,725
Rehab Estimate
$2,000
Closing Costs
$7,184

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,663

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $119,725
Loan Amount $359,175
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$111

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,410

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,408

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4103$2,495
$2,495
RENT COMPS ANALYSIS
  • 8829 Hidden Pond Drive New Fairview, TX 2
    • 4 beds 3 baths ∙ 2,691 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,691 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,410
    • $0.90
    •  
  • 15300 Sam Reynolds Road Justin, TX 1
    • 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 2016
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.90
    •  
  • 14705 Lost Wagon Street New Fairview, TX 3
    • 4 beds 3 baths ∙ 2,811 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,811 Sqft ∙ Built 2020
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.89
    •  
PROPERTY LISTING DETAILS
Beth Ross
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509754
Last Updated: 01/30/2021
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