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910 Sw 10th Street Mineral Wells, TX 76067

3 Beds 2 Baths 1,409 sqft Built 2021

$179,900

List Price

$1,180

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2021
  • Price/Sqft : $127.68
  • 2 Days on Market
  • MLS # : 14467741
  • Updated Date : 11/07/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,409 sqft
  • Baths : 2 full
Listing Agent

Source 1 Real Estate - Mineral Wells

Listing Agent's Description

Curious about Mineral Wells living? Find out for yourself where the living is easy in this new construction three bedroom home on a large lot just minutes from downtown. Great open layout with a fabulous kitchen that includes a middle island, stainless steel appliances and granite countertops. Master bedroom has a walk-in closet. Special features inside the home include rounded corner edges, ceramic tile accents in the baths and recessed lighting. Perfectly situated near some of Mineral Wells favorite pastimes, like drinking coffee at Coffee & Cocktails, eating lunch at the Brazos Market & Bistro or shopping at The Market at 76067. Photos of what the home will look like will be coming soon.

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

Zip Code: 76067

ZipCityMarket2010Year2005 Q3201970k80k90k100k110k120k130k140k150k160kPrice in $64k162k

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

Zip Code: 76067

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
Houston Elementary School Primary Regular 567 37 3
Mineral Wells Junior High School Middle Regular 506 39 5
Mineral Wells High School High Regular 887 66 4

Houston Elementary School

  • Education Level: Primary
  • # of students: 567
  • # of teachers: 37
3
GreatSchools Rating

Mineral Wells Junior High School

  • Education Level: Middle
  • # of students: 506
  • # of teachers: 39
5
GreatSchools Rating

Mineral Wells High School

  • Education Level: High
  • # of students: 887
  • # of teachers: 66
4
GreatSchools Rating
 

$161,910$197,890$179,900

PURCHASE PRICE

$1,062$1,298$1,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,180
EXPENSES Loan Payment -$664
Property Tax -$416
Property Insurance -$106
Property Management Fees -$99
CASH FLOW
-$105

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.

$179,900

PROJECTED PRICE

$1,180

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 2.7%
Maintenance Year (1-5) 3.00%
Vacancy 6.00%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k$450k

PROJECTED ANNUAL CASH FLOW

11530-$3.0k-$2.0k-$1.0k$0.0$1.0k$2.0k$3.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k$450k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$49,674

INVESTMENT

$49,674

Down Payment
$44,975
Rehab Estimate
$2,000
Closing Costs
$2,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$664

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $44,975
Loan Amount $134,925
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$1,038

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,180

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,381

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,180
1$1,1802$1,395
$1,395
RENT COMPS ANALYSIS
  • 910 Sw 10th Street Mineral Wells, TX 1
    • 3 beds 2 baths ∙ 1,409 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,409 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,180
    • $0.84
    •  
  • 1106 12th Street Mineral Wells, TX 2
    • 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 2010
    property image
    LEASED 10/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.98
    •  
PROPERTY LISTING DETAILS
Carolyn Shipp
Source 1 Real Estate - Mineral Wells
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467741
Last Updated: 11/07/2020
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