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913 E 5th Street Springtown, TX 76082

3 Beds 2 Baths 1,826 sqft Built 2020

$274,900

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $150.55
  • 6 Days on Market
  • MLS # : 14498181
  • Updated Date : 01/14/2021 at 14:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,826 sqft
  • Baths : 2 full
Listing Agent

Century 21 Judge Fite Company

Listing Agent's Description

Another great home form Built-Rite Builders. 3 bedroom 2 bath 2 car garage in Inheritance Estates in Springtown. Beautiful wood grain ceramic tile floors in common areas. Wood burning stone fireplace in Living room. Open concept Kitchen and Dining. Custom wood cabinets and granite counter tops. Stainless Steel appliances double oven, built-in microwave,large Pantry. Breakfast bar. Natural light in Dining. Master bedroom with Master bath with separate tub and tiled and detailed shower, dual vanities, walk in closet. 2 additional bedrooms and another full bath also tiled enclosure (no fiberglass inserts here!). Covered back porch. Fenced backyard. Epoxy floored garage.Sprinklers and fully sodded.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Zip Code: 76082

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 76082

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8791734

* 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
Springtown Elementary School Primary Regular 508 33 6
Springtown Middle School Middle Regular 530 35 6
Springtown High School High Regular 912 72 5

Springtown Elementary School

  • Education Level: Primary
  • # of students: 508
  • # of teachers: 33
6
GreatSchools Rating

Springtown Middle School

  • Education Level: Middle
  • # of students: 530
  • # of teachers: 35
6
GreatSchools Rating

Springtown High School

  • Education Level: High
  • # of students: 912
  • # of teachers: 72
5
GreatSchools Rating
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$955
Property Tax -$571
Property Insurance -$133
Property Management Fees -$99
CASH FLOW
-$238

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$274,900

PROJECTED PRICE

$1,520

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

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$74,849

INVESTMENT

$74,849

Down Payment
$68,725
Rehab Estimate
$2,000
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$807

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,506

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,5203$1,575
$1,575
RENT COMPS ANALYSIS
  • 913 E 5th Street Springtown, TX 2
    • 3 beds 2 baths ∙ 1,826 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,826 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.83
    •  
  • 253 Firefly Drive Springtown, TX 1
    • 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 2007
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.70
    •  
  • 340 Lynch Bend Road Springtown, TX 3
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2017
    LEASED 09/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.95
    •  
PROPERTY LISTING DETAILS
Randy Plyler
Century 21 Judge Fite Company
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14498181
Last Updated: 01/14/2021
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