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912 Mercury Drive Princeton, TX 75407

4 Beds 3 Baths 2,143 sqft Built 2018

$285,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $132.99
  • 2 Days on Market
  • MLS # : 14469662
  • Updated Date : 11/14/2020 at 09:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,143 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fathom Realty

Listing Agent's Description

Delightful well kept home nestled on a quiet street in a beautiful neighborhood. This home offers a sprawling open concept floor plan with vaulted ceilings in the family room, lots of windows with an abundance of natural light. Kitchen offers trendy gray & white granite with dark cabinetry and stainless steel appliances. Primary retreat downstairs with a huge walk in closet for all your wardrobe needs. Oversized shower, and modern color tones in primary bath retreat. Three additional large bedrooms up with a small loft niche. Backyard offers an open patio and a large backyard for family BBQ's and lots of room for kids to run and play.

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: 75407

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $114k243k

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

Zip Code: 75407

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8671734

* 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
Lacy Elementary School Primary Regular 695 47 6
Clark Junior High School Middle Regular 540 33 8
Princeton High School High Regular 1,048 67 6

Lacy Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 47
6
GreatSchools Rating

Clark Junior High School

  • Education Level: Middle
  • # of students: 540
  • # of teachers: 33
8
GreatSchools Rating

Princeton High School

  • Education Level: High
  • # of students: 1,048
  • # of teachers: 67
6
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,052
Property Tax -$594
Property Insurance -$151
HOA -$38
Property Management Fees -$99
CASH FLOW
-$143

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$285,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$5,311

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,784

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,685
1$1,6852$1,7903$1,8004$1,8005$1,800
$1,800
RENT COMPS ANALYSIS
  • 912 Mercury Drive Princeton, TX 2
    • 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.84
    •  
  • 1008 Emerald Drive Princeton, TX 1
    • 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 2019
    property image
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $0.79
    •  
  • 1405 Granite Path Princeton, TX 3
    • 4 beds 3 baths ∙ 2,147 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,147 Sqft ∙ Built 2017
    property image
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.84
    •  
  • 702 Rustic Meadows Trail Princeton, TX 4
    • 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 2018
    property image
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.84
    •  
  • 1500 Copper Street Princeton, TX 5
    • 4 beds 2 baths ∙ 2,089 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,089 Sqft ∙ Built 2017
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.86
    •  
PROPERTY LISTING DETAILS
Maryjane Mathew
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469662
Last Updated: 11/14/2020
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