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9020 Nathaniel Drive Providence Village, TX 76227

4 Beds 4 Baths 3,170 sqft Built 2013

$295,000

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 2013
  • Price/Sqft : $93.06
  • 3 Days on Market
  • MLS # : 14462801
  • Updated Date : 11/01/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,170 sqft
  • Baths : 3 full , 1 half
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

If you need space, this home has it! The large living and dining area open to a kitchen big enough for everyone to gather round. Prep meals on the kitchen island and still have more than enough room for dining in the breakfast area. The space is light and bright with all the windows, too. Two master suites, one on each floor, have ensuite baths and huge closets. The second floor has two additional bedrooms with walk-in closets, another full bath and a huge second living space that opens to a balcony with a view of the nearby soccer park. Enjoy the neighborhood pools, private lake, jogging paths, skate park and various playgrounds and parks, too. So many things to do in this community!

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: Island Village at Providence

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $116k336k

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

Neighborhood: Island Village at Providence

NeighborhoodNIR 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
Monaco Elementary School Primary Regular 642 36 6
Aubrey Middle School Middle Regular 484 29 7
Aubrey High School High Regular 585 36 6

Monaco Elementary School

  • Education Level: Primary
  • # of students: 642
  • # of teachers: 36
6
GreatSchools Rating

Aubrey Middle School

  • Education Level: Middle
  • # of students: 484
  • # of teachers: 29
7
GreatSchools Rating

Aubrey High School

  • Education Level: High
  • # of students: 585
  • # of teachers: 36
6
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,088
Property Tax -$631
Property Insurance -$210
HOA -$60
Property Management Fees -$99
CASH FLOW
$202

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.

$295,000

PROJECTED PRICE

$2,290

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$33,867

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $2,504

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,2903$2,2954$3,000
$3,000
RENT COMPS ANALYSIS
  • 9020 Nathaniel Drive Providence Village, TX 2
    • 4 beds 4 baths ∙ 3,170 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,170 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $0.72
    •  
  • 1608 Goodwin Drive Aubrey, TX 1
    • 4 beds 3 baths ∙ 3,302 Sqft ∙ Built 2013 4 beds 3 baths ∙ 3,302 Sqft ∙ Built 2013
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.59
    •  
  • 2437 Evening Stone Drive Little Elm, TX 3
    • 4 beds 3 baths ∙ 2,913 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,913 Sqft ∙ Built 2019
    LEASED 05/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.79
    •  
  • 139 Las Colinas Trail Cross Roads, TX 4
    • 4 beds 3 baths ∙ 3,034 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,034 Sqft ∙ Built 2015
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.99
    •  
PROPERTY LISTING DETAILS
Julia Kappel
Opendoor Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462801
Last Updated: 11/01/2020
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