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906 Swift Drive Sherman, TX 75092

4 Beds 3 Baths 2,475 sqft Built 2020

INVESTimate

$297,775

List Price

$2,220

$1,998 - $2,442

Rent Est.

$315,939  ( +6.10%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $120.31
  • 7 Days on Market
  • MLS # : 14415754
  • Updated Date : 08/21/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,475 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ntex Realty, Lp

Listing Agent's Description

The 2,475 square-foot Barrow floor plan incorporates 4 bedrooms, 2.5 baths, and an open concept in the main living area. The kitchen, dining, and family room come together, each with a dedicated space but no walls to divide them. Get creative in your smartly appointed kitchen, including a center island, granite countertops, walk-in pantry, decorator cabinets, and stainless steel appliances. The owners suite is situated on the first floor for privacy and convenience. Unwind in an oversized bedroom where you can view your backyard, maybe from a sitting area. The master bath is styled with dual, but separate, vanities, a soaking tub, and a walk-in shower. Don't miss the flex room with a double-door entry.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Zip Code: 75092

ZipNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150k160k170k180k190kPrice in $60k199k

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

Zip Code: 75092

No Data Available.

* 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
S And S Cons Elementary School Primary Regular 383 26 4
S And S Cons Middle School Middle Regular 190 14 6
S And S Cons High School High Regular 268 25 5

S And S Cons Elementary School

  • Education Level: Primary
  • # of students: 383
  • # of teachers: 26
4
GreatSchools Rating

S And S Cons Middle School

  • Education Level: Middle
  • # of students: 190
  • # of teachers: 14
6
GreatSchools Rating

S And S Cons High School

  • Education Level: High
  • # of students: 268
  • # of teachers: 25
5
GreatSchools Rating
 

$267,998$327,553$297,775

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,099
Property Tax -$526
Property Insurance -$162
HOA -$42
Property Management Fees -$99
CASH FLOW
$292

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.

$297,775

PROJECTED PRICE

$2,220

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 6.10%
Maintenance Year (1-5) 3.00%
Vacancy 6.00%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$80,910

INVESTMENT

$80,910

Down Payment
$74,444
Rehab Estimate
$2,000
Closing Costs
$4,467

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,099

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,444
Loan Amount $223,331
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$42,367

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,178

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,2003$2,2204$2,2505$2,250
$2,250
RENT COMPS ANALYSIS
  • 906 Swift Drive Sherman, TX 3
    • 4 beds 3 baths ∙ 2,475 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,475 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.90
    •  
  • 3015 Preston Club Drive Sherman, TX 1
    • 3 beds 3 baths ∙ 2,179 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,179 Sqft ∙ Built 2007
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.87
    •  
  • 3120 Preston Club Drive Sherman, TX 2
    • 4 beds 3 baths ∙ 2,565 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,565 Sqft ∙ Built 2010
    property image
    LEASED 06/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.86
    •  
  • 3112 Preston Club Drive Sherman, TX 4
    • 3 beds 3 baths ∙ 2,500 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,500 Sqft ∙ Built 2010
    property image
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.90
    •  
  • 3205 Preston Club Drive Sherman, TX 5
    • 3 beds 3 baths ∙ 2,528 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,528 Sqft ∙ Built 2009
    property image
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.89
    •  
PROPERTY LISTING DETAILS
Clinton Shipley
Ntex Realty, Lp
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415754
Last Updated: 08/21/2020
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