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902 Bentwood Cleburne, TX 76033

3 Beds 3 Baths 2,238 sqft Built 2021

$333,462

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $149.00
  • 2 Days on Market
  • MLS # : 14509791
  • Updated Date : 01/30/2021 at 15:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,238 sqft
  • Baths : 2 full , 1 half
Listing Agent

Hanna & Cook Realty, Llc

Listing Agent's Description

Just broke ground. Drawing of plans on Mls. You can pick colors .. Open concept . Light and cozy. Beautiful area of homes .

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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: Belle Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $93k243k

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

Neighborhood: Belle Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9011841

* 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
Gerard Elementary School Primary Regular 531 31 5
Smith Middle School Middle Regular 775 53 4
Cleburne High School High Regular 1,653 110 4

Gerard Elementary School

  • Education Level: Primary
  • # of students: 531
  • # of teachers: 31
5
GreatSchools Rating

Smith Middle School

  • Education Level: Middle
  • # of students: 775
  • # of teachers: 53
4
GreatSchools Rating

Cleburne High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 110
4
GreatSchools Rating
 

$300,116$366,808$333,462

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,158
Property Tax -$821
Property Insurance -$157
HOA -$12
Property Management Fees -$99
CASH FLOW
-$577

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.

$333,462

PROJECTED PRICE

$1,670

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,367

INVESTMENT

$90,367

Down Payment
$83,366
Rehab Estimate
$2,000
Closing Costs
$5,002

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,158

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,366
Loan Amount $250,097
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$13

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,835

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,670
1$1,6702$1,695
$1,695
RENT COMPS ANALYSIS
  • 902 Bentwood Cleburne, TX 1
    • 3 beds 3 baths ∙ 2,238 Sqft ∙ Built 2021 3 beds 3 baths ∙ 2,238 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.75
    •  
  • 806 Chestnut Grove Drive Cleburne, TX 2
    • 4 beds 2 baths ∙ 2,072 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,072 Sqft ∙ Built 2004
    LEASED 11/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.82
    •  
PROPERTY LISTING DETAILS
Edie Hanna
Hanna & Cook Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509791
Last Updated: 01/30/2021
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